Fibonacci was an Italian mathematician and is considered to be one of the most skilled Western mathematician in the Middle Ages. Fibonacci is famous for introducing the world to the Fibonacci sequence. The sequence starts with a zero and followed by a one. Each subsequent number in the sequence is an addition of the earlier two numbers. The sequence does not have any end number.

0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55 and so on.

This
sequence of numbers is the basis of a modern-day **Fibonacci betting system**. This type of betting follows what is
called as a negative progression, which means you raise your stake after you
have lost a bet.

**Fibonacci betting system explained**

The betting system makes use of the Fibonacci sequence but without the zero. So, the sequence looks like this 1, 1, 2, 3, 5, 8, 13, 21, 34, 55 and so on.

Before proceeding further, you have to set your stake per unit e.g. one unit can be €5. It is up to you how much you wish to stake but it is recommended to start with a smaller stake per unit to ensure you have enough money, if you are faced with a losing streak. Setting a stake per unit at 1-2% of you bankroll is recommended.

**Starting the sequence:**Your first bet must be a single bet with your chosen stake per unit. If, you have declared to wager €5 per unit, your first bet should be equal to €5. Continue betting with your initial stake per unit until you lose a bet.**Next step after a winning bet:**When you win a bet, make sure that you move back 2 numbers in the Fibonacci sequence i.e. if you win after wagering €5 (5*8), your following wager should be €15 (5*3).**Next step after a losing bet:**If your bet loses you move on to the second number in the Fibonacci sequence. This equals the betting units you are wagering for your second bet. In other words, raise your bets after each loss, so the figures will look like €5, €5, €10, €15, €25, etc.

**Example with €5 stake per unit: **

- Bet €5 until you lose. Then bet €10 (5*2).
- If you win at €10, then return to step 1. If you lose, then bet €15 (5*3).
- If you win at €15, then return to step 1. If you lose, then bet €25 (5*5).
- If you win at €25, then return to step 2 and bet €10 (5*2). If you lose, then bet €40 (5*8).
- If you win at €40, then return to step 3 and bet €15 (5*3). If you lose, then bet €65 (5*13).

The success of this sport betting strategy depends on the length of your losing streaks. The system is not risk free and there is a high chance that the stakes will get so high at some point that it gets too risky to continue. However, if you like using betting systems, and are prepared to accept the risks involved, then using the Fibonacci betting system can be fun.

**Who should use the Fibonacci betting system**

Use the betting system when you have a large bankroll or choose a very small stake per unit. Even though the system can be profitable, it is advised to set a max betting limit and start over from the beginning in case you reach that limit. The system is not recommended for complete beginners and when using any betting system it is important to stay disciplined regardless of the outcome of your bet.

**Pros and cons**

Although the Fibonacci system is used in games like Blackjack, Craps and Roulette and sports such as football, it comes with its own set of pros and cons.

**Thumbs up for these Pros**

- The sequence is easy to follow and not complicated.
- Frequent wins mean you can place many bets

**Beware of these Cons**

**The Fibonacci betting system**is for players with a large bankroll.- If you hit a losing streak, your stake will increase at a fast pace and you may have to quit the system or start over.

## Variations to the system

**Betting on draws**

Draws are notoriously difficult to predict and therefore difficult for the bookmaker to price. Hence, one strategy is to only bet on draws.

**Betting on markets with two outcomes**

If you bet on a market with only two outcomes you are more likely to win right? Another strategy when using the Fibonacci system is to only bet on markets with two outcomes and odds over 2.00. That can be on e.g. tennis or over/under goal markets.

**High roller**

A high roller version of the system is to only go down 1 step after each win instead of the traditional 2 steps. Once you have 2 winning bets in a row you go down 2 steps.