The Fibonacci betting system is a progressive betting system that can be employed when playing roulette at a live casino, or when playing at an online casino. Like other progressive betting systems that can be used when playing roulette, the Fibonacci betting system is based around the idea that all losing streaks must come to an end at some point during a betting progression. This notion that results are ‘due’ is known as ‘gambler’s fallacy’, and while this concept is irrational, it forms the foundations to many of the betting systems that are used or written about.
The Fibonacci betting system takes its cue from the Fibonacci Sequence, which is an almost mystical sequence of numbers found by a man named Leonardo Pisano Bigollo (or Leonardo Fibonacci) at the turn of the 13th century. This sequence of numbers are held in such high esteem due to their relation to the Golden Ratio – the ratio which some believe to hold the key to beauty, nature and, in some cases, the building blocks of life. Of course, you are not here for that kind of lesson, so we should move on. However, it is worthwhile taking the time to familiarize yourself with this sequence, even if you do not intend on using it when playing roulette.
The Fibonacci Sequence is simple enough to work out. The next number in the sequence is the sum of the two numbers preceding it. So, as the sequence starts with 0 and 1, the next number in the sequence is 1 (0+1). The next number would then be 2 (1+1), the next 3 (2+1), then 5 (3+2) and so on ad infinitum. The sequence is as follows: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55… And, of course, the Fibonacci system does not have to follow the Fibonacci sequence; it can start with any number you desire, and as long as you follow the rule of adding the previous two numbers together, it will work. For example, you may start with a 2 unit bet. The next number would be 2 (2+0), then 4 (2+2), then 6 (4+2), 10 (6+4) and so on.
So now you know how to work out the next number in a sequence, the next part is implementation. The concept of the Fibonacci betting system is that you must cross off all the numbers on your list, and once you do that, the progression ends. You cross a number off by winning a bet with that stake. And if your bet loses, you add a number to the progression using the Fibonacci Sequence (the sum of the previous two numbers).
Let’s start off with 0 and 1 on our list, to keep it traditional. Our first bet will be 1, as that is the last number on our list. We would bet that usually on an even-money wager such as red or black, simply because it is easier to keep track, and keeping track is important when using any betting system. If that bet wins, we cross off the 1, and our sequence is complete, because we cannot bet 0 units. We now have a 1 unit profit we can take away, if we choose. However, if our bet loses, we add a number to the sequence, and in this case that number will be 1 (0+1), which will also be our next wager. If this bet wins, we cross that off, look at our list and see our next bet is again 1 unit. This sequence of events then continues until you clear your list or your bankroll is depleted. The end result of a completed sequence would give you an overall profit of 1 unit, regardless of how far down the sequence you went.
The Fibonacci betting system is a fun betting system to use, as it actually requires you to use your brain a bit when betting, which is not always the case, especially with a sequential betting system such as the Martingale System. However, like all betting systems, it does not guarantee you success in the long term, as the house always has an edge in games such as roulette. Another downside is that if you do go on a losing run, your bet sizes can start to spiral out of control, and your bankroll may not be able to withstand such variations, and it would take a considerable winning run to break even should you go on a lengthy losing streak.
In short, while it is a fun system, there are betting systems you could use when playing roulette. The Fibonacci betting system is flawed at its core, as it works on the fact that you will eventually win at some point in a sequence. However, as each event is separate to the others before it, your chances of winning are exactly the same as the spin before, and the spin before that, and the spin before that.