Fibonacci betting - short guide

Whenever you decide betting on sports with your hard earned money, it is in your best interest to be armed with a good betting system. Not only will this increase your chances of winning, it will also help you avoid making mistakes by requiring you to act according to the system rather than your emotions. The Fibonacci sequence dates back to 1202 and is still used by bettors all over the world in 2017.

How does the Fibonacci betting system work?

The best way to explain the Fibonacci betting system is by using an example. Let’s say you are betting on soccer and you wager 1 dollar on your first bet. I know, it’s peanuts, but we’ll go with 1 dollar for the sake of simplicity.

You place your first bet on Liverpool vs Arsenal, hoping that Liverpool wins the match. The odds for this to happen are 2.15. You watch the match with your friend and, have a good time but once the game is over your mood goes down. You just lost your first bet. No big deal, you place your second bet on another event and you wager 1 dollar again, if you win this one you double your investment and gain 2 dollars, which means you will break even.

And… it’s a loss again. But no worries, we’re using the Fibonacci system! This time you add the total of your first bet and your second bet (1 dollar on the first bet + 1 dollar on the second bet), place it on 2.35 odds, and hope for the best.

Finally, it’s a win! You win 4.70 dollars. Not only do you break even, you also manage to make a small profit of 0.70 dollars. Not bad. For your next bet you start over at the initial amount (1 dollar).
Do you understand the idea behind the Fibonacci betting system? Every time you lose, you simply place a bet amounting the total of your last 2 wagers in order to minimize your losses. If you win, you always start over at your first wager, 1 dollar.

The betting sequence in case of fifteen multiple losses in a row would look like this: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610.
In order to manage to minimize your losses, it is important that the odds you bet on are always at a low limit of 2.0.

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Positive and negative progression

In the previous example I explained how the Fibonacci system works. The method we used was the negative progression. After each lost bet you increased the amount of your wager.
Using the positive progression you do the exact opposite. You wager more money every time you win. Instead of decreasing your losses you increase the amount winnings on your successful bets.

Let’s take a look at positive progression. As in our previous example, we will keep it simple and start by wagering 1 dollar. This time lady luck is on your side and you win your first bet. Now, instead of going back to placing a 1 dollar wager, you increase it to 2 dollars. You win again and after two betting rounds your earnings amount to 6 dollars.
Using the negative progression your winnings would only make a total profit of 4 dollars. That’s a 33.33 % increase!

Pros of the Fibonacci betting system

If you dispose of a large enough bankroll and wager your money on even paying bets, the Fibonacci system will definitely reward you with significant winnings.
It is similar to the Martingale system with the advantage that it is less aggressive, which means that you won’t require an immense bankroll to succeed.

Cons of the Fibonacci betting system

Although it is less aggressive than the Martingale system, you will still need a large enough bankroll which will sustain a streak of bad luck.

Take the example of the betting sequence of twenty losses in a row. 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, 6765. After losing nineteen bets in a row using the Fibonacci system, you will already have wagered a total of 10945 dollars and the next bet requires you to put another 6765 dollars at risk.
In this example we initiated our system with only 1 dollar. What if we start with 5? You do the math.

Conclusion

The Fibonacci system is a great way to bet on sports with a strategy, rather than just relying on emotional decisions and being at risk of placing bets that won’t provide you a benefit in the long run.

Know your limits, although you will make a profit in the long run if you manage to be persistent, you don’t want to be wagering your entire life savings hoping to regain your losses. Determine your boundaries and once you reach them, let go and move on.

Make sure to always use this system with a bankroll big enough to sustain a streak of bad luck, and most importantly, start small.