A braking device and a system for braking thread being drawn off of a thread storage drum over its output circumference. The braking device includes a braking body having a band which is symmetric in shape around an axis and has a continuous active braking surface facing inwardly toward the axis, the surface being sufficiently hard to be resistant to wear from thread friction. An elastic member urges the band, and thus the braking surface, into engagement with an output circumference on the drum so as to brake thread passing through the braking body between the surface and the drum output curcumference.