Yes, Martingale's doesn't raise your expected value above zero/negative for any games of chance. Towards infinity, it won't change your outcome -- you will still eventually loose all your money.
If you factor in the times the player went bankrupt, your win percent probably won't look so hot.
Though it did (in the simulation). The accumulated winnings with the limits on bankrupt and cashing out at 1500 created a over time win percentage in a otherwise negative-biased game?
By definition, if there is negative expected value, simply changing your betting strategy won't help. Any short term fluctuations would be from "luck".
The famous MIT black jack team was able to 'take down the casino' by counting cards and waiting for expected value to swing positive, and then placing large bets at that time. If the game is truly random and negative (like all well-constructed casino games should be) then there should never been an opportunity for positive expected value.
If you factor in the times the player went bankrupt, your win percent probably won't look so hot.