The Fibonacci betting system is among the oldest betting strategies that are commonly used by gamblers to date. Let’s not start with the history yet, there is a column for that below.
Does it still work?
Let’s face the fact every betting strategy appears near perfect from a distance, but after a closer look, you will discover their shortcomings. Is there any disadvantage of using the Fibonacci betting system? This and many more will be discussed here.
Advantages of the Fibonacci betting system
- It helps you maintain your profit
- Notwithstanding the number of times you lose a bet, this system will help you recover your losses after a long term
- Fibonacci is very easy to understand and those require too much thought process
- This betting system will help you build up small profits as you keep playing
Disadvantages of the Fibonacci betting system
- The level of risk involved while using this betting is a little bit high. This is a common phenomenon with negative progression betting systems
- If you’re unlucky, a losing streak can cause bankruptcy
How does the Fibonacci system work?
This is a very complex betting strategy but it is worth giving a try. The Fibonacci betting sequence starts from zero, one and each number equals the two previous numbers.
Here is the example, 0, 1, 1, 2, 3, 5, 8, 13, and so on. From the above illustration you have to add 1+1 to arrive at 2, then 1+2=3, and 2+3=5, etc.
Some gamblers may be wondering why this system looks entirely different. Come to think of it, is this system really special?
Let’s take a look!
Start your first bet with a single betting unit. The zero is non-consequential, so 1 is the first number on the sequence.
For example, assuming you want to stake for the first time, this step encourages you to stake a single betting unit that is from 1 to 9. In most cases, the lowest stake per line is usually $1, $2, or $5.
If you lose a wager, you must move to the next unit on the sequence. Assuming you staked $5 as the base unit and lost, you are expected to move to the next number which will be twice your initial stake.
For example, if you stake $5 as your first bet, you are required to stake $10 for the second bet. This step is applied anytime you lose a bet. So for every loss, you are expected to move a step higher than the previous bet.
If you win a wager, move two steps down the sequence. Assuming you win when you get to number 3 on the sequence, you are expected to go back to number 1. This step will help you save more after winning.
A flip side to this step demands that if you haven’t moved up the sequence before winning, just stick to the last number you were playing.
Does Fibonacci betting strategy work?
Most experts will tell you that the Fibonacci betting system does nothing to improve your chances of winning a bet. Regardless that it will assist you to win money in the short term, this achievement may not be sustained when you play for a long time.
Other factors that will affect the efficiency of this system are the high stakes after losing. Although you will go two steps lower after winning, there is still the possibility that stakes will increase after a few losing streaks.
Approximately, 80 percent of gamblers will tell you that this system is flawed especially since it’s a negative progression system. It may seem so because there is no guarantee that it will work all the time. You can give it a try a few times and see how it works out.
History of the Fibonacci betting system
The Fibonacci system was invented by Leonardo Pisano. He is an Italian mathematician who lived in the 13th century. He came up with this theory while studying how rabbits breed. It was on this basis that the system was named the Fibonacci sequence.
If this is the first time you are hearing about the Fibonacci betting system, then it may just be the strategy that will win you some money. Experts believe that his sequence has what it takes to conjure some surprises in the gambling world.
A look at other materials online clearly shows most experts have concluded that the Fibonacci system doesn’t work. Will our submission be different? Not really. Most of the casino betting strategies just give hope to gamblers. It may even cost you all your hard-earned money.
Gamblers ordinarily are risk takers so it will be out of place to advise against using this strategy. If you don’t want to lose your money, you can apply this strategy when you are playing for fun. They are so many online websites that have a demo version; you can give it a try instead of playing with real money.
However, if you want to play for real money, stake responsibly. Prepare a budget and stick to it. For more emphasis, using the Fibonacci strategy doesn’t guarantee winnings.
Frequently asked questions
Does the Fibonacci betting system encourage chasing losses?
The fact about the negative progression system (Like Fibonacci) is that they encourage chasing losses. One of the rules of this game stipulates that you increase your stake after your loss. The aim is simply to recover your losses quickly. Experts refer to this act as chasing losses. It is dangerous and can render you bankrupt.
Can the Fibonacci betting strategy be applied to other games?
Yes, you can try out this strategy with other games. For instance, other casino games that can fit in are blackjack, baccarat, Pai Gow, etc.
How long should I use the Fibonacci betting system before I stop?
The length of time to use this strategy before your stop is at the gambler’s discretion. Experts have advised that gamblers ought to have a budget. Your budget will help you know when to stop playing. The truth remains that there is no guarantee that this strategy will always work or work at all. So if you give it a try and lose a few times, stop playing.