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The system is founded on the principle that if the wheel has landed on one result more than once, it is more likely to revert to the other result: e.g. if it has landed on red 5 times in a row, it is more likely to land on black on the next spin.

This incorrect way of thinking is known as 'the gambler's fallacy'; it supposes that the wheel has some kind of 'memory' which will affect its result. Of course, this is not the way probability works: each spin of the wheel is a completely independent event, and the odds of any result are the same every time the wheel spins.

It's not difficult to see how this type of thinking can be attractive. After all, if you could bet that the wheel would land on red 10 times in a row, you would get good odds against that happening. But that is treating those 10 spins as a single, unlikely, event. In reality, if it has landed on red 9 times in a row, the chances of it landing on red a 10th time are just the same as it would be on any other spin.

This could be for one more spin, two spins, three or more. Obviously, the more spins you are prepared to let it ride, the greater the risk that one of those spins will see you lose, but the number of spins (or, the 'progression limit') is up to each player to set for themselves.

The advantage of the Paroli System is that you do not end up needing to make very large bets, as you never actually place a wager of more than your initial amount. What you are hoping to do, when utilizing this strategy, is to make the most out of your winning streaks while losing the minimum during any losing streaks.

However, this is just one way of looking at it. On the flipside, if you place one unit and win three consecutive spins, you are now wagering eight units that belong to you. You may think of it as a single bet which is still in play, but the reality is that those chips are yours - you could take them off the table and go spend them if you wished. You are still wagering those eight units, even if it feels like you're 'playing with house money'.

In this way, you are mathematically guaranteed to eventually break even, which is another reason why this system has many fans. However, as with all roulette strategies there are some pitfalls here to be aware of, and which make this a particularly risky and dangerous system to follow.

Firstly, as we saw with the d'Alambert System above, there is no statistical reason why a roulette wheel should 'revert' to black if it has been consistently landing on red, let's say. Streaks of one color or another, odds or evens, can run for much longer than you can imagine. A run of 10 reds in a row, for example, is nothing noteworthy.

Now, think of how much you have to wager if you are doubling your bet each time for 10 consecutive spins. Starting with just $5, you would double to $10, then $20, $40, $80, $160, $320, $640, $1,280 and $2,560 in just 10 spins. Assuming your bankroll could handle that swing, would you then be prepared to wager $5,120 if the next spin didn't go your way? Or over $10K on the spin after that, just to break even?

And that is assuming the table you are playing will allow you to place a bet that high. All roulette tables have maximum stakes, and eventually you will hit the limit - of the table if not for your bankroll.

The Martingale System is therefore one of the most risky strategies you can use, with the potential to incur huge losses chasing small wins.

It is actually a sequence that occurs in many places in the natural world, such as the structure of scales on a pine cone, the spiral in the shell of a nautilus, or in the 'golden ratio' beloved of Renaissance artists such as Leonardo Davinci.

When used as a roulette strategy, it is similar to the Martingale System as it dictates the size of bets one should place when making a series of even-money bets. Every time your bet loses, you move one place up the sequence, then when a bet wins you move two places down the sequence.

The result is a system much like the Martingale, but without the precipitous lurch into having to wager huge amounts when you hit a losing streak. You are still chasing losses by increasing your wagers, but the speed of progression is slower, making it a slightly safer - if still risky - system to employ.

The player starts by stating a target amount of money they wish to win, then dividing that amount up into a series of smaller numbers and writing them as a list. For example, if you were aiming to win $100, your list might look something like this: 10, 10, 20, 25, 20, 5, 10.

Each time the player bets, they add the first and last numbers on the list to make the amount they will wager. If the bet wins, they cross off those numbers. If it loses, they add the amount they lost to the list. This continues until the list is complete and the target amount has been won, or the player runs out of funds.

The drawback to the Labouchère System is a similar one to the Martingale: a losing streak can see the amounts required to be wagered escalate dramatically, with table limits and a finite bankroll potentially stopping a player from being able to place the mathematically necessary amounts.

While the d'Alembert System purports to track results in order to wager on the wheel 'reverting' to a statistical norm, the Andrucci System is instead looking for patterns in the random results of the wheel. In other words, rather than seeing what numbers or results have NOT been hitting as frequently as they ought to, statistically speaking, the Andrucci system aims to identify which ARE hitting more often than they should.

The Andrucci System advises players to first watch the wheel and note the results (to make things easier and encourage players to use this baseless 'strategy', this is often shown on a screen at the table itself). If players recognize any unusual patterns within 37 spins of the wheel, such as a number hitting multiple times, they should alter their betting for the next 37 spins to favor these numbers.

As with the d'Alembert Strategy, where this falls down is in the true random nature of probability. Patterns may appear to emerge, but that does not mean they are true patterns. In fact, any casino worth its salt will work hard to ensure a truly random result of any spin of the wheel, and indeed licenced operators are legally bound to make sure this is the case.

Our minds are naturally predisposed to spot patterns, but any patterns you spot in the random nature of roulette spins are quirks of chance and cannot be relied upon to predict future results.

Unlike the other roulette strategies mentioned above, this system does not involve making even-money wagers. It does, however, require you to place a large number of bets on each spin of the wheel, covering a lot of numbers at once.

Each spin using the James Bond System requires 20 bets: 14 on High (numbers 19-36), 5 on a six line bet covering the numbers 13-18, and 1 as a straight up bet on zero. The system is designed for use on a European Roulette table.

The idea is to build profits slowly and carefully by being a 1/3 favorite on each spin. However, as with all roulette systems an unlucky streak can undo any player, and by losing 20 bets every time your numbers don't hit, it can be an expensive strategy to employ.

Negative progression strategies require the player to increase the size of their bets when they lose. The famous Martingale System is a great example of negative progression.

Positive progression, on the other hand, requires the player to increase their bets when they win. A good example of a positive progression strategy would be the Paroli System.

Negative progression strategies can be dangerous as the amounts you need to wager for the system to 'work' can become very large, very quickly. They are essentially methods founded on the idea of chasing losses, which is always a terrible idea in any form of gambling.

Positive progression systems, on the other hand, embrace the idea of randomness and do not require the player to make bigger outlays than they are prepared to make. They aim to maximize opportunity when a winning streak occurs, without claiming to be able to engineer those situations.

However, it's important to understand that there is no such thing as a winning online roulette strategy. It's a fun game of chance, and the odds are always in favor of the house. If you go into the game with that mindset, and never bet more than you can comfortably afford to lose, you can have a great time playing roulette.