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Sigh, this thread is for the mathematically challenged, and it's got nothing to do with table limits.
The series of bets boils down to betting whether your colour will come up BEFORE you run out of money. It boils down to this bet here: You have $15 in your pocket. You bet 15$ ($1-$2-$4-$8) that in the next 4 spins red will come up (at least once). If it does you win $1 (wow!), if 4 non-reds come up, you lose $15.
Do you take the bet? Answer: No, of course not.
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