In this system we ensure that the amounts at stake do not escalate too quickly.
We also take a greater profit for BET 1 and BET 2. After all, it is more likely that you will win BET 1 and BET 2 than BET 6 for example.
At a certain moment we stop raising the stake. Instead, we start back at BET 1.
This gives us the following series of stakes:
Factor / odds=2:
Bet 1: 5 dollars
Bet 2: 9 dollars
Bet 3: 14 dollars
Bet 4: 20 dollars
Bet 5: there is no Bet 5. Instead we start back at Bet 1 and a stake of 5 dollars.
Factor / odds=3:
Bet 1: 2 dollars
Bet 2: 2 dollars
Bet 3: 3 dollars
Bet 4: 3 dollars
Bet 5: 4 dollars
Bet 6: 4 dollars
Bet 7: there is no Bet 7. Instead we start back at Bet 1 and a stake of 2 dollars.
To test this method in practice you can look at the following random series with a chance of 50% (for odds=2) or a chance of 33% (odds=3).
Pros and cons:
This system has the advantage that you don't have an endlessly escalating series in the case of consecutive losses, such that you don't lose all your winnings in one go. However, the downside is that you will have to accept smaller profits.