Fibonacci and the roullette wheel

I have for a very long time been convinced that it is possible to use fibonacci sequence to generate a profit from a roullette wheel.

By betting three separate sequences on each of 1-12, 13-26, 27-39 which all pay 3 to 1 odds, each sequence would always provide a profit when it reaches its conclusion.

Other than a long losing sequence, can anyone offer any other reasons why this system would not work?

Sandy
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