The Labouchere betting system has been around for ages and is also often known as "Cancellation", "Crossout", "Labby", and "Split Martingale". This blackjack betting system is considered to be a negative progression system. There are many different variations of the Labouchere betting strategy but we will look at it in simplest form.
You begin by writing down a series or set of numbers such as 1 2 3 4 5 6. This string of numbers doesn't have to be sequential and can short or long. For example, the set of numbers 1 1 1 3 2 5 8 would also work fine. The choice of the series of numbers you choose varies depending on what game you are playing and what odds you are getting.
Each number in the betting series that you create represents the amount in units or chips that you are going to bet. You add up the first and last numbers in the series and that is the amount of units you will bet.
If you win the bet, you cross out these numbers and move along to the new first and last numbers in the series. Once you have rotated through your entire series of numbers by winning each bet, you have completed one full cycle and you then start over from the beginning.
If you lose the bet, you write the number you were betting (the first and last numbers added together) at the end of the series of numbers. You are tacking on a new number to your betting series for every bet you lose.
For an example, let's say you are using the 1 2 3 4 5 6 betting series. Your first bet will be 7 units (the first number, 1 unit, plus the last number 6 units). If you were playing blackjack at a base unit of $5, the first bet would be 7 units x $5 per unit = $35.
If you win the first bet of 7 units, your new betting series of numbers will be 2 3 4 5 because you have crossed out the numbers you just won with. You will proceed to add up the new first and last numbers of the betting series, 2 and 5, so your next bet will also be 7 units.
If you lose the first bet, you will add the number of units you bet, 7 units, to the betting pattern so the new series of numbers would be 1 2 3 4 5 6 7. Your second bet would be 8 units, by adding up the new first and last numbers on the betting series, 1 and 7.
By using the Labouchere betting system, you will always turn a profit when you finally finish cycling through your entire betting series by winning all bets.
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