50% Win Chance - Best Strategy?

Why hello my fellow strategists.

The other day, me and a friend started talking about gambling and such, and he knows I'm sticking money out on all sorts of things - and the question popped up.

"If there was a game, where you had a fixed 50% chance of winning, could you win consistently?"

I of course replied, "Yes, I would be able to." At this point I was already making a Labouchere line in my head, and decided to try and show him what I meant, yet he didn't believe me.
The rules are as follows for the game,

1. Minimum Wager - €5
2. Maximum Wager - €400
3. Bankroll of €500
4. Fixed 50% Chance of Winning
5. Payback for wins is 1:1

The first time around I was thinking about setting up a standard 5-5-5-5-5 Labouchere line, and if I get to a certain point in a losing streak, simply create a new line for the last number in line. For instance if I lost 3 times in a row, my line would look like this:

5-5-5-5-5-10-15-20

I would then take the 20 and make a new line of 5-5-5-5 when I cleared that line, I would go back to the 5+15 wager and have another go untill I clear the line for profit.

Now my question is to you guys, are there an more optimal way of making profits from the above? I know I can stick my neck out further and make the line grow larger, but I also want to eliminate as much of the very big bets as possible to have my bankroll overcome a bad losing streak. Any suggestions ?

Thanks alot

Another add to the game, would it be profitable to simply make 2 Labouchere lines and bet each side all the time, to maximize profits ?

You wont make much profit by doing that,plus you don't know what order the wins will come in.....but a little profit is better than a loss...gl

Yea, your probably right about that .. I just did some testing, with a piece of software which will randomly select either X or Y ...

I've just been so lucky to encounter one heck of a losing streak, I'm currently at €400 after I got my bankroll to €800 .. So yea, losing streaks do occur