The Fibonacci betting system originated from a mathematical theory developed by Leonardo Pisano, most famously known as Fibonacci. This mathematical theory was derived from Indian Mathematics and is popularly used in various significant fields of life. The system is based on a series of numbers starting with 0 and 1 with the next number being the sum of the first two numbers before it. When using this betting system, the bettor moves up one unit after a loss and moves down two units after a win. It is said that with the Fibonacci betting system, each win evens out the two losses before it. A standard sequence in this betting system would look something like this: 0, 1, 2, 3, 5, 8, 13, 21, 34, 55 and so on.
In this betting system, one places a range of bets where a bet is the total of the two bets preceding it. This system is effective in situations where one can wager on even money bets and there have been several losses in a row. The purpose of the Fibonacci betting system is that a win can make up for previous losses as the bets pay out even and are added again to the sum in the sequence. You can only begin to use this system when you are experiencing losses, but if you are having a winning streak, then the Fibonacci will not be of use. The betting system is suitable for short-term gains and is ideal for those playing with a tight or small budget.
In the most typical form of the Fibonacci betting system, a bettor starts his bet with 1 unit and continues to bet using one unit until he reaches the stage when his bet loses. If the bet is lost, he bets the starting unit again. In case the bet is lost again, the bettor will begin using the Fibonacci series by applying the next unit, which is the sum of the previous two units and the chain continues in this manner till the bettor wins. Once he wins, he will go back to the initial unit and start once again. However, hard line players will not go back right to the beginning, but might step down a level or two and start from there.
An example of this type of bet would be something like this : using the above sequence, you can start betting with $1 and keep betting this basic unit until you lose and have to step up to the next unit, which is $2.If you win, you go back to the first unit and if you lose, you go ahead to the next unit that is $3. If you win this, you step back to $1, but if you lose you go to the next unit in the sequence that is $5. If you win this level, you go back to the second unit, which is $2 and if you lose you go on ahead to $8. If this is won, you go back to the third unit, but if you lose, you go to the next bet of $13. This one win will take you back to the fourth unit and if lost, your next upgrade will be $21. Win this and you step back to the fifth unit, lose it and you proceed to the next number in the series, $34. A win will take you back to the sixth unit while a loss will mean that you start all over again from the initial bet.
A useful piece of advice for the more aggressive and skilled players and those who play for high stakes is that when using the Fibonacci system, if you win, you must take away a single unit from your bet instead of the two units that is usually deducted according to the betting system. Continue playing in this manner until you get to a point where you make two wins in a row. You may now go back two steps as you had planned to do the first time. This betting pattern is suitable for long term betting purposes while it can also earn you profits while you are playing. There are several variations of the system, but the basic Fibonacci is not profitable for a high roller because there are too many losses and the profit margin is also very low. Also they may find that they have reached the table limit and cannot place any more bets, which can be quite disappointing for them especially if they have just started making some good profits.
As for the novice, it should be noted that the Fibonacci betting system requires great practice and skill as remembering the progression is very important if you are to use the system. Therefore you need to have a sharp memory and a good grasp of the betting system. Also to bear in mind is the fact that this betting system comes in handy for making up short-term losses and cannot be used to make up for larger losses. Your bankroll is also an important factor to consider because if you have a small bankroll, the Fibonacci system may not be suitable for them. Since the sequence can go on, you need to limit your bets if you wish to recover a few losses, as big stakes and the number of loses can drain out your money fast.
The Fibonacci betting system is a highly effective strategy for even money games like Roulette, Blackjack and Baccarat and can also be personalized into a money management strategy for sports betting. As compared to the Martingale theory, where one places bets after a winning as well as a losing round, the Fibonacci system is only used when a bettor encounters a succession of loses. Which of these two theories is more appropriate is hard to tell, as both these systems can cause you to lose money if not played with care. Therefore it is necessary to be knowledgeable about these before you apply them to theory.
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