What is ‘Fibonacci’?
Fibonacci is another name given to the ‘Fibonacci Betting System’. The method is based on a set of numbers in which each new number introduced equates to the previous two numbers added together.
The Fibonacci Betting System, or simply Fibonacci, takes its name from the nickname of the mathematician who devised its basic principles: Leonardo Pisano. The Italian-born mathematician brought the system to Europe, and its popularity soon spread to the gambling landscape worldwide.
Fibonacci is a system used in casino games such as roulette and blackjack. Based on a number sequence in which each number equals the sum of the previous two, Fibonacci is best used in a game with bets paying even money – namely, a bet that pays 1-1 and in which the player has a 50-50 likelihood of winning.
To apply the Fibonacci system to gambling, the player would use the sequence to command their betting units, which is the amount that the player wagers in each hand. If, for example, their typical bet is $10, 3 units would be $30. So using the Fibonacci Betting System, the player bets each lost unit on the next wager in order to make up for the bet they previously lost. The main idea behind the Fibonacci Betting System is to cover multiple losses by shifting either up or down the number sequence.
The Fibonacci method is best explained using an example. Since 1 is always the first number in Fibonacci’s sequence, the player would begin their betting by staking a $10 wager, for instance. If the player wins in this round, the player would simply bet that one unit again – $10. Because 1 is also the next digit in the sequence, even losing that initial bet would mean betting one unit of $10 again. Let’s say that the player loses the first bet and the second consecutively. In this instance, using the Fibonacci system, the player would take these two units, add them together, and bet that amount – so, $20. Losing this bet too, the player would add $20 and their previous loss of $10 together, making three units – which is $30. The sequence runs as follows: 1, 1, 2, 3, 5, 8, 13, 21, and so on.