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Labouchere System

The Labouchère roulette system, also known as The Labby, The Spilt Martingale, The Cross-Out The Cancellation System and the Ian Fleming (as it appears in a couple of James Bond plots).

It was invented by an Englishman with a French name: Henry Labouchere who died in 1912.

Here's how you work a Labouchere Progression System at the roulette table.
Jot down a run of numbers. The number of digits in the Labouchere sequence and the individual digits are down to you. So, for example, you might pick the following:
1,2,3,4,5,6.

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To start off a Labouchere Progression, place a bet  that equals the sum of the first and last numbers, so 1+6=7, going on the sequence above.

If you win strike off the 1st and last numbers (leaving you with 2,3,4,5 in the Labouchere Sequence above.
Repeat. Your next bet would be 2+5 = 7 again. Strike the first and last off again if you win, leaving a final bet of 3+4 = 7.
If you lose, add the loss to your sequence. In the run above, you would tack on a 7 to the end. your next bet is 1+7 = 8.

If you land a good sequence of wins, you will strike off all the numbers and begin again with a new Labby sequence.
The Labouchere aims to help you win the sum of your combined numbers in the initial starting sequence at some point, before you cancel every number.

NOTE: you are NOT improving your odds with the Labouchere (just as you are not with any system actually), but you are playing methodically with this system.

If you want to reduce the risk then load the Labouchere Sequence that you use with lots of 1s at the front- this means that your bets don´t ramp up too aggressively.

Just as in the Martingale, you are going to run into the same issue of a table limit (normally around $300) which will limit your ability to cover your losses if you hit a long losing streak.