Labouchere system is also called the cancellation roulette system. It gives players the option to win high amounts even with relatively low bets. Compared to the Martingale system, where an unsuccessful series means that you need to bet high amounts, Labouchere system only required significantly lower bets.
Write down an arbitrarily long sequence of numbers, for instance: 1, 2, 3, 4, 5. The amount of the bet is the sum of the first and last number, i.e., 1 + 5 = 6. Bet 6 chips on your selected color (or on odd/even, high/low); you will only be betting on your selected choice.
If you win, cancel out two numbers (one from each side), which in our example are 1 and 5. The sequence now is: 2, 3, 4, so your next bet will be 2 + 4 = 6.
If you lose, add the lost amount, meaning 6, at the end of the sequence, which would then be 2, 3, 4, 6, and so your next bet would be 8 (2+6).
Continue using this system until all numbers have been canceled out. When you lose, you add only a single number, and when you win you are canceling two numbers.
Labouchere system has the advantage that if you win as many time as you lose, then you'll always be in the positives. To stay even, it suffices to win only one game out of three.