Large Moneyline Favorite Chases

Has anyone ever tried chases of huge favorites?  I cant ever remember any situations where picking moneyline favorites of -600 to -1000 would have had consecutive losses and certainly never 3 straight losses.  I know that it could quickly wipe out a bankroll, but really, could anyone really be unlucky enough to lose 3 in a row at those odds.  It seems like you could really churn out money that way if you had the balls to try.  Anyone ever tried this and been wiped out?

Yes, people have tried chasing big favourites before.  Some failed but others succeeded (for years) such as Frank at therx.  In this forum, various persons post results of similar method that uses runline instead of moneyline.