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This systems has been around almost as long as Martingale.
One variant is known as "reverse Labouchere" and another variant as "reverse martingale".
Regardless, it is still nothing but VOODOO MATH, and an incredible tax on the statistically ignorant.
http://wizardofodds.com/gambling/bettingsystems.html
AB
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I am not basing it on previous results I am basing it on initial odds.
Answer this question. If I have a 1 percent disadvantage on the player bet. How many results on average would I have to play before there were 50 more banker results than player results?