The Fibonacci betting system is one of the numerous negative progression systems that are applied in the world of betting. It is all about the strategy of increasing the betting stake every time after having suffered a loss. The basis of this system is to have a high stake on the bets that end up being successful rather than on the losing bets. This is the strategy of every negative progression system in the world of betting.
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Superficially, the Fibonacci betting system may appear to be a complex world, but it is not necessarily true. It takes a few trades in order to understand the system, which is all about adjusting the stakes. A punter also needs to be aware about the sequence of numbers in the Fibonacci system in order to apply this strategy. Regarded as one of the top strategies in the world of betting, Fibonacci system is applicable on sports betting and casino gambling in the same time.
One of the common applications of the Fibonacci strategy is in sports. Specifically when it comes to the strategy of the system in the world of soccer/football betting, it is all about backing a draw. If going with a draw fails on one occasion, the system insists on sticking with the same outcome for the next bet too. A punter needs to repeat the process until the end of successful. While sticking with the same selection, it is important to be aware about two elements:
Now, let us consider an example in order to see the effectiveness of the system. The data from the Premier League 2016-17 season reveals that an astonishing 168 matches among the 380 games finished as a draw. This translates into a whopping 44% of the games finishing as a draw. Interestingly, the odds for a draw always happen to be excellent and well above the 2.6 requirement placed by the system. Even if the percentage of draws reduces, one could still be looking at a payout after every three games.
As a result, the third number of the Fibonacci sequence – 1, 1, 2, 3, 5, 8, 13, 21 and so on – comes into the play for this occurrence. The third number of the sequence (2) happens to be the key behind the total bet, which is now at £4 (winning stake added with the previous failed bets: 1, and 1). The average odds for a draw were at around 4.2, and this brings the average payout to a reasonable £8.4 (the £2 stake multiplied by the odds). Now, the profit is an impressive £4.4 when the stake of £4 is subtracted from the payout of £8.4.
Over the course of the campaign and 380 games, a punter stands to make an impressive profit of close to £1,300 on a stake of just £1. Such is the impressiveness of the Fibonacci system – especially in the world of football betting. Even though the number of draws may seem excessive in the Premier League’s 2016-17 season, one would be surprised by the even greater number of draws in the 2015-16 season. There were an incredible 210 draws in the 380 game campaign when Leicester City finished top of the table. A punter stands to make even greater sum of money under such circumstances.
Just as with the numerous benefits of the system, it is also possible to experience drawbacks. The biggest disadvantage with the system – especially when it comes to football betting – is the inability to increase the stake since several matches are being played at the same time. Hence, the punter has to effectively go with one game at a time rather than through the whole list of fixtures in a domestic football campaign.
Yet, even going with one match at a time may not be effectively great considering that some teams tend to go on a strong run of matches without a draw. In the 2016-17 season, Manchester United were the draw specialists in the league after being involved in 15 stalemates out of their 38 league matches. Yet, the punter would have suffered immensely if Chelsea was the preferred team to back in game during the season.
Chelsea went on a 13 game winning run which would have effectively extended the Fibonacci sequence to huge numbers, thus increasing the total outlay for a punter. Small to medium punters would have seen their bankroll diminish on such runs. The lower part of the Fibonacci sequence may not trouble the punter in terms of stakes, but there is a significant possibility of the punter pulling out of the system after witnessing several consecutive losses of increasing magnitude.
The Fibonacci betting system is not ideal for emotional gamblers, loss chasers, and those who believe in the element of luck. Emotional gamblers and loss chasers would suffer immensely with the system, which only rewards the patient punters with deep pockets.
The sequence of the Fibonacci system is regarded as a complex mathematical calculation which has been reduced into a simple formula: N3 = N1 + N2
The presence of a starting number can be used to calculate the sequence. If a punter goes with £1 as the first of bets, Fibonacci sequence would progress as 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, and so on. The sequences in such a way that the number increases exponentially once it goes beyond 10 numbers. It is one of the key factors behind punter’s not going all out with the Fibonacci betting strategy, even if it is capable of reaping some rich rewards for the patient punter.
The great question in the minds of every punter is the doubts regarding the system and if the Fibonacci betting strategy does really work or not. While the system is certainly great on a number of occasions, it manages to suffer from the same disadvantages of every other negative progression system. Even though the punter is likely to make money on the short-term punts, there would be a situation where they stand to go on an extended run without a victory. This is the testing time within the Fibonacci system, as the punter is looking at the stakes increasing ever higher with every losing bet. At some point, the punter may exhaust the bankroll and would be staring at a mammoth loss.
It is common to experience such a situation in football almost every season. Chelsea’s 13 game winning run in the 2016-17 season is a classic case of the same. If the punter was to stick to the Fibonacci system throughout this run while backing a draw, the stake by the 13th match would be a mammoth £233 – one a single bet. The punter would be looking at a loss of more than £600 while backing just a single team. Most medium and small punters would be out of the picture a long time before the run breaks.
On the contrary, this could be a great system for someone with deep pockets and the mental strength to be able to withstand such heavy losses.