Roulette System

So I wanted to talk to some mathematicians here and some who have been around "Roulette" for a while.  I've got this system (one of them just for this specific game) from a old friend who is a professional gambler (now).  He said he made a great money and that's what got him started going into other games with much larger bankroll. Although I gave couple of shots, every time I left with my pockets empty (as far as "Roulette" goes).  Here is how you are supposed to play it:

Units (100$ bettor starts with 3,100$ bankroll)

1 - 1 - 1 - 2 - 2 - 4 - 4 - 8 - 8 (stop and regroup)

So you are supposed to pick one color (black or red) and ride it to win (2) in a row.  So you bet out 1U ... win or lose ... you bet 1U ... if you win ... you start from the beginning ... if you lose you continue until you hit (2) in a row ... you get the idea ...

So two questions:

1) Is this profitable over a long run? 

2) Should I be changing colors after I hit two in a row or always stick to the same one?

I was just curious if anybody actually tried this.  I know this is a old system, but I just never heard anybody mentioned anything about it.

If you have any type of experience with "Roulette" let me know what you think about this and what my chances look like to beat it.  

Thank boys!

I forgot to add to that ... I do not play anything online ... everything I deal with is real live dealers in casinos ... thanks

I agree.  When this happens. You would lose half the bet, but with the system you ignore it and let it ride again.

1) No.  Doesn't matter if it's an American or European wheel, there is a house edge built in (otherwise why would the casino offer such a game?).  The casino has the edge, and there is no system or bet structure that will change this.  Chasing only compounds the problem.  You cannot win long term.

2) Doesn't matter.  The previous spins have no effect on the next spin.  If you've had 15 reds in a row, the chance the next spin is red is 50%.  If you've had 15 blacks in a row, the chance the next spin is red is 50%.  In actuality, it's less than 50% due to the green 0 and 00 (there's the house edge), but you get my point.

1) Yes you are correct.  Although I am only chasing it up to 8's and then win or lose I start over.  But I do see your point.

2) I get your point. I know it's always 50% chance.  But I know couple floor guys who tell me the black/red will always come down to 50% in a long run (based on millions of spins).  So my theory was if I do the system with 50% over long run I would have a chance.

But when you lose half your money you would have to add to it to make the next bet so you win 2 in a row.  Why don't you play baccarat?  You bet player or banker and if it's a tie you get all your money back.  There is a 5% commission on banker, but banker comes up more often.  Also never bet tie, bad odds!!  Check it out.

Hey, thanks for the website I will check it out.  I know a "Field" System for Craps which worked for me for years, but you have to come in with serious bankroll and be very patient (which i don't mind).  I also know exactly what you are talking about =D

I'm very disappointed nobody believes in this system, but hey! it's better to find out from someone that did it and learn from the mistakes.  Thanks boss and I wish you best of luck at craps!

Well, yes and no.  I just forget about it and continue with the system.  ( it would be a good idea to find out what the odds are of 0 or 00 to come out, so that the odds don't kill the system in a long run). 

You are like the tenth person that told me to play the baccarat this week.  I will look into it.  Thank you!

I honestly don't know how baccarat works.  Is it same concept where you can play black and white?  50/50 chance?  

Yes, you either play banker or player, thats it.  There are other bets on the table but just ignore them as they have sucker odds.  Google it for instructions and you should be able to find a free site to try it out.  All you have to do is decide how much to bet and whether to put your money on banker or player.  The dealer deals the cards and that it.  It's not like blackjack where you decide to stand or hit.

they allow you to bring pen and paper to a roulette table - NOT blackjack tables tho ...

i have tried a system similar to this, it can work, but I got raped one time. so it is far from fool proof

Really cool when it hits though!