Labouchere system (also known as Cancellation system) was created by Henry Du Pré Labouchère in the 19th century.
Henry Du Pré Labouchère was English politician, writer, and publisher. But above all, he was an enthusiastic gambler, specially at horse races. In two years he bet about £6,000 in those races!!
To create his system, he was motivated by the betting progressions published by Jean Le Rond d’Alembert. Labouchere studied the most common betting progression in that time and created his own.