The Fibonacci betting system works by increasing your wagers when you lose a bet, also known as a negative progression system, according to the Fibonacci sequence. It is more high-risk than other strategies and can be used on any online casino game that pays even money such as Roulette, Blackjack online, and online casino Craps.
A Background to the Fibonacci Betting System
The Fibonacci sequence was named after the Italian mathematician Leonardo Pisano, also known as Leonardo of Pisa and Fibonacci, hence the name of the sequence. The sequence was first published in his book Liber Abaci, or in English The Book of Calculations, published as far back as 1202. However, the origins of the sequence have been said to appear in Sanskrit in Indian mathematics around 200 BC. The Fibonacci sequence not only appears in mathematics very often but also in nature. Rabbits multiply in the Fibonacci sequence; the patterns in tree branches and flower petals also adhere to the Fibonacci sequence, and Leonardo Da Vinci’s The Vitruvian Man is also based on the Fibonacci sequence. Now the Fibonacci sequence is used by casino players the world over in order to make winnings on their favorite games.
How the Fibonacci Betting System Works
Although it’s not the simplest betting system you will find, you don’t have to be a genius in order to learn the rules and use them when you play. It seems counterintuitive to keep betting when you have just lost money, but the idea behind it is that as you keep wagering larger amounts despite a loss, you will eventually win back your last two losing bets, not the total sum of your losses like if you were to use the Martingale betting system.
You have to memorize or write down the Fibonacci sequence – a series of numbers that you need to know when you play. You also need to know the steps to take as you move through the sequence.
Fibonacci Betting System Sequence
The sequence works in a cumulative fashion, in that each number in the sequence is the sum of the two previous numbers in the sequence. Each number in the sequence represents a betting unit. In simple numbers, this is what the sequence would look like:
1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.
When you use this sequence at one of the fantastic online casinos found in our toplist the numbers will be your betting units. This is what the sequence would look like if you have a single betting unit of $20:
$20, $20, $40, $60, $100, $160, $260, $420, $680, $1100, $1780, $2880, etc.
Fibonacci Betting System Steps
The first thing you have to do is choose an online casino from our toplist – we have many great ones to choose from. If you don’t have an account yet then sign up, and you will be eligible for some generous sign up online casino bonuses as well. Put some money into your online casino account using your online casino payment method of choice, and then pick your favorite online casino game that has even money bets.
Now you are all set up, you are ready to start using the Fibonacci betting system. Before starting to play you need to pick a singular betting unit you want to use the betting system with. In order to determine your first betting unit you need to have a good grasp of your budget and your financial limitations. It’s always best to start with a lower single betting unit such as $10 or $20 as there is greater potential for losses when you play using a negative progression betting system. You should also pre-determine the maximum amount you are willing to lose, and then be strict with yourself and stop playing if you lose that maximum amount.
Once you have placed a wager, whether you go up or down the sequence depends upon whether you lose or win your wager. You move up the sequence when you lose a bet, if you lose the next bet then you move up the sequence again and bet the next amount of money in the sequence. This continues for every single loss you incur as you play. You are always increasing the amount of the wager according to the pre-determined sequence with every single lost bet.
If you win one of the wagers, you have to move down two numbers in the sequence. If you were at 5 betting units in the sequence and you won the bet, you would move down two spots in the sequence to 2 betting units for your next wager. You do this step every single time you win a bet, regardless of where you are in the sequence. If you are still at the beginning of the sequence and you don’t have two spots in the sequence to move down, simply go back to the beginning of the Fibonacci betting sequence and start again.
In short, simply follow these steps:
- Choose an online casino.
- Select a casino game.
- Start betting a low single betting unit.
- Place your wager.
- Adjust your next wager accordingly.
- Up the sequence, if you win.
- Down the sequence, if you lose.
Examples of the Fibonacci Betting System in Action
So you can see how this works if you were to play at an online casino, the following example shows how you would progress through the Fibonacci betting system by using a single betting unit of $5 to start with, as most online players prefer to take slightly less risks with these kinds of risky betting systems.
- Bet $5 (one unit)and lose
- Bet $5 (one unit) and lose
- Bet $10 (two units) and lose
- Bet $15 (three units) and lose
- Bet $25 (five units) and lose
- Bet $40 (eight units) and lose
- Bet $65 (thirteen units) and lose
- Bet $105 (twenty-one units) and lose
- Bet $170 (thirty-four units) and win
- Bet $65 (thirteen units) as you won the previous bet, and you go back two steps in the sequence from 34 units to 13 units. You win again.
- Bet $40 (eight units) as you won the previous bet, you once again go two steps back in the sequence to 8 units. You lose.
- Bet $65 (thirteen units). You win again.
- Bet $40 (eight units) as you won the previous bet, you once again go two steps back in the sequence to 8 units. You win again.
- Bet $25 (five units) as you won the previous bet, you once again go two steps back in the sequence to 5 units.
This is just one example of how your betting can play out using the Fibonacci betting system as you play. This will change depending on your single betting unit and whether you win or lose. Just write down the sequence with your betting unit of choice until the maximum amount you are willing to wager, so you can always check this sequence when you are playing without getting lost.
Advantages and Disadvantages of the Fibonacci Betting System
There are both pros and cons to playing with this system. Like with all betting systems, it will depend on what you want to achieve out of the game, how you want to play, and also what kind of bankroll you’re working with. From the outset, it may look like a losing scenario for players, however, there are some advantages to using this method. Make sure you understand what the cons are to this betting system so you know what you’re risking when you use it.
Pros and Cons of the Fibonacci Betting System
- Simple to Follow
- Consistent Small Profits
- Potential to Lose Big
- Betting Amounts Increase As you Lose More
Even though the potential to win big exists, only use this system if you have a high bankroll, are content to risk losing that bankroll, and have enormous self-discipline with knowing when to walk away from the table. You should determine beforehand how much you are willing to lose and be strict with yourself and stop playing if you reach that amount of losses. If you don’t satisfy those conditions it’s best to choose from the many progressive betting systems that are low-risk, and set up for you to lose a lot less.
Use the Fibonacci Betting System at a CasinoTop10 Online Casino Today!
As the Fibonacci betting system gives you small wins without massive losses, you can use this system at one of the online casinos featured in our toplist if you are after a bit of fun, and you are willing to risk a loss. If you want to see what a negative progression betting system is like this is the one to try out first, as it’s less extreme than some others like Martingale. As long as you are not on a long losing streak, you will see small profits every so often, but you will also have the occasional loss as well. All you need to do is pick a single betting unit, write out the sequence using your betting unit of choice, then click on our toplist and start playing.
1) Choose an online casino
2) Select a casino game
3) Start betting a low single betting unit
4) Place your wager
5) Adjust your next wager accordingly
o Up the sequence if you win
o Down the sequence if you lose