Labouchere is one betting system, also known as the ‘Cancellation’ system. The system has a number of variations. The simplest form is following: a player puts down a series of numbers, for example, 1 2 3 4 5 6. A series can be long or short and it may not be sequential like 1 1 1 3 3 5 7. The choice of a series depends on the variation of the game you are going to play and the odds of bet.
Every number is the amount of units or chips for betting. You make the bet using the first and the last numbers of your sequence, in our example, 1 and 6, which are 7 units overall.
If you win, you’ll cross out these 2 numbers and make a bet made of the next two the outside numbers that are 2 and 5 in our example. After another win you should bet the 2 remaining numbers that are 3 and 4, and in case you win again, you complete this series and start it again.
When you lose, you add that number to the very end of this series. For example, you have lost your first bet made of 1and 6 (7). You put 7 to the end of this series and get this: 1 2 3 4 5 6 7 and the next bet should be 8 (1+7). In case you win the first bet but lose the second that is 2 and 5, then you get the following sequence: 2 3 4 5 7.
If you stick to the system, you will realize when the series is completed, you will always get a profit. The negative aspect of the system is that you might end up betting big sums even though your original bet is tiny.