How It’s Done…
The Labouchere System is a betting strategy sometimes called The Cancellation System. The user of such a strategy decides before playing how much money they want to win, and writes down a list of positive numbers that sum to the predetermined amount. With each bet, the player stakes an amount equal to the sum of the first and last numbers on the list. If only one number remains, that number is the amount of the stake. If bet is successful, the two amounts are removed from the list. If the bet is unsuccessful, the amount lost is appended to the end of the list. This process continues until either the list is completely crossed out, at which point the desired amount of money has been won, or until the player runs out of money to wager.
We created Excel worksheet that you can use to test staking plan profit/loss with different odds or edit sequence and adjust it by your own needs.