13th-century Italian mathematician Leonardo “Fibonacci” Pisano Bigollo developed the Fibonacci sequence.
It is a set of steadily increasing numbers where each one is equal to the sum of the previous two numbers in the sequence.
In What Fibonacci Used to Emphasize?
Fibonacci emphasized that the integer sequence had many occurrences in nature, such as tree branches to how flowering plants are arranged. The sequence was also widely used in art and music.
Many years later, gamblers discovered they could use the sequence as a betting strategy.
The Fibonacci betting system is a negative progression strategy in which the bettor must increase the stake with every losing bet.
The concept is the basis for a betting strategy used with casino games that have 50-50 scenarios, like betting red or black in roulette.
The Fibonacci strategy was eventually adopted and used by sports bettors to help them plan how much they should bet in specific scenarios.
How To Use The Fibonacci System
The Fibonacci system is most effective when used in making bets with even money odds. These bets give the player about a 50% chance of winning and can double their money with each win.
Example of the Fibonacci System Applied
For example, if the starting wager is $1, all that needs to be done is to follow the sequence, which is: $1, $1, $2, $3, $5, $8, $13, $21, $34, $55, $8, and so on.
Starting at the beginning of the sequence, players would bet $1, and every time they lose a bet, go to the next higher stake in the progression. Each time they win a bet, they should move two numbers lower in the progression.
Because the numbers in the Fibonacci pattern represent betting units, it’s easy to follow, regardless of the amount staked.
For example, if the starting bet is $5, the sequence would then be $5, $5, $10, $15, $25, $40, $65, $105, and so on.
Bettors can continue the process until they’ve made their desired profit or their bankroll is exhausted. In theory, using this pattern of increasing and decreasing bets will recover losses and even make players a profit in the long term.
Pro and Cons
The Fibonacci system was designed to help players recover their losses, but a lot depends on the skill of the bettor and the size of their bankroll.
Bettors like using this system because it’s easy to follow and guarantees a profit if playing with the right odds and an unlimited bankroll. Any betting system is better than making wagers based on emotion or a hunch.
Fibonacci Betting System Advantages
However, there are several advantages to using the Fibonacci betting system. First, no matter how many consecutive losses the player has, as long as they have the bankroll to make another bet, they will eventually recoup all of their losses.
Also, the system is easy to follow and doesn’t require much thinking. Players will also win many small bets the longer they play.
Fibonacci Betting System Disadvantages
Unfortunately, as with any betting system, there are disadvantages to the Fibonacci strategy. First, all negative progression betting systems have one huge risk involved, which is blowing through an entire bankroll on a single losing streak.
Players that are chasing losses could find themselves in a scary situation if they hit a losing streak and don’t have the bankroll to cover the next wager.
Example of a Disadvantage
For example, if the initial stake is $5 and the player loses eight bets in a row, they need to bet $170 on the next bet to break even.
If they were to lose again, the stake would go up to $275. If the players don’t have the cash to defend themselves from the losing streak, they will end up taking heavy losses.
Also, because the system was adopted primarily for games with about a 50-50 outcome, it can be a solid betting strategy.
The Fibonacci system doesn’t increase a player’s chance of winning at the casino.
It can help win small profits in the short term and even more if a player can avoid a long losing streak. Some experts would go as far as saying the system doesn’t work.
However, for those that prefer to use betting systems and have no problem accepting the risks, it can be fun and even profitable.
It’s important that the bettor is disciplined and decides on a bankroll amount that they can afford to risk. Should they lose that amount, they should always cut their losses and come back to play another day.
When To Use The Fibonacci System
When applying the Fibonacci system to sports betting, players must know the right scenario to use when wagering on their favorite team.
As explained earlier, this strategy should be used on wagers where there is a 50-50 chance of winning.
However, it can sometimes be difficult to find even-money odds in sports betting markets. To use the system effectively, players must find a bet that gets them as close as possible to even odds, such as betting the over/under.
Because players need to find bets with even money odds, roulette has always been a favorite game to use the Fibonacci system.
There are several even-money bets available, such as odd/even, red/black, and 1-18/19-36. Other bets aren’t recommended, as they don’t offer even-money odds.
Fibonacci System at the Blackjack Table
Players often use the Fibonacci system at the blackjack table, although this is a slight violation of the 50-50 rule.
There are instances in blackjack where the player may want to double down or split their hand.
This is why many people believe it’s not a suitable option for blackjack because it sometimes goes away from the even-money principle the strategy is based on.
Another disadvantage when playing any table game is that the betting limit can sometimes work against you. Playing at a $100 limit blackjack table won’t permit a player to recover losses if they hit a cold streak.
Negative Progression Systems
All negative progression systems are a form of chasing losses. The Fibonacci system assumes that betting at even odds will result in each outcome occurring 50% of the time. While this is accurate in the long term, it sometimes can lead people into a fallacy.
Hitting red on the roulette table doesn’t increase the chances of black hitting on the next spin, as the odds are still 50-50, no matter the previous result.
It’s sometimes hard for players to let go of biases that fool them into believing that a long losing streak increases the chances of winning future bets. However, understanding the law of probabilities indicates otherwise.
While the Fibonacci system can be a useful strategy in helping to figure out how much to wager.
Wins and Losses Depend on the Player
The number of wins and losses depends on how good the player is at finding value and choosing the right wagers. It helps players stay in the game longer than wagering at random.
As long as they can afford to keep raising the stake, they’re guaranteed to recover losses over time.
However, it can be a slow process, with only a small number of units that will be won for each wagering session.
For players looking to spend a long time at the roulette table, it’s a great strategy as long as they have the bankroll to cover any losing streaks.
Fibonacci system FAQs
Yes. The system can be used at any bookmaker or casino, whether land-based or online. The system doesn’t give players an unfair advantage and is just a method of calculating the size of a bet.
Since it doesn’t affect the outcome of the game and doesn’t involve counting cards, it’s a 100% legal strategy. However, players should always carefully choose their game, as it’s best used in betting markets with even-money odds.
Yes. Beginners can use this system but must be careful when first using it. They should always be very familiar with how the system works and make sure they have a big enough bankroll to help them recover any losses. However, it’s recommended that novice bettors stick with simpler betting methods until they become more familiar with the activity.
In sports and casino betting, no strategy or system can be considered the best to use. There are many systems available that can be effective tools. Still, the most important thing is for players to be very familiar with whatever strategy they decide to use and have a sufficient bankroll.
Yes. Many bettors use this system to bet on sports such as football. However, it’s not effective in every betting market because it should only be used when making wagers on even-money markets, such as over/unders or prop bets.
Leonardo Bonacci was a mathematician who lived in Italy in the 13th century. He’s most well-known for his book called Liber Abaci, which was written in 1240 and contained a mathematical problem using a population of rabbits that demonstrated the Fibonacci sequence.