The fibonacci betting system is a negative progression system, and like all systems of that type, it requires the bettor to increase the stake following a losing wager.
So, in the case of this betting system, your wager size will increase when you lose! And decrease when you hit the winner.
Learning the “Fibonacci sequence” isn’t the simplest thing in the world, but in this article, we will try to explain why we think this strategy is dangerous. And eventual situations where the bettors could use this betting strategy.
What is the Fibonacci sequence?
This sequence was published back in 1202 by the Italian mathematician Leonardo Pisano (aka Fibonacci, Leonardo of Pisa). In the book “The Book of Calculations (Liber Arci).”
Leonardo Pisano, considered to be one of the most brilliant mathematicians of the Middle Ages. And you can find this sequence all over nature (in sunflower seeds, the seashells, and in the most of spiral shapes in nature).
The basic principle of the Fibonacci sequence is that every new number equals the sum of the previous two numbers (0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, etc.).
Casino players firstly used this sequence, and some twenty years ago, it was incorporated by the sports bettors, who tried to use this sequence for making the profit from sports betting.
Using of Fibonacci Sequence in Betting Practice
In the casino games, you used this system to place wagers on even money bets. Still, in sports betting, bettors went one step further and calculated that minimum odds should be around 2.60 in order to this system be profitable in the long run.
That’s why many sports bettors tried to implement the Fibonacci betting system. Playing on the draw in soccer because odds on this outcome are always around 3.00.
Looking at the data from the most popular soccer leagues in the last ten years, approximately 24% of all games ended in a draw. This means that bettor should get an average payout on every fourth game (the winning stake should be on the third Fibonacci number: 3).
Despite the fact that this statistical number looks pretty solid… In practice this betting system showed many drawbacks, and it is far from perfect.
The Drawbacks of Fibonacci Betting Strategy
There are a number of potential problems with this betting strategy. First of all, many games are played simultaneously, and there is no chance for the bettor to place his wagers using this system accordingly to the rules.
Bettors tried to overrun this obstacle by trailing the single team on draw. But results showed that often bettors can burn their betting bank waiting for some team to play draw.
For example, this season in all competitions Liverpool played 20 games without a draw. Using the Fibonacci sequence means that next game should be played with $10.924 in the next game! And there are not many bettors who start with $1 capable to cover this 21st wager. So, anyone without the $11k for the next game, will be without $20k overall.
As we wrote in our Negative Progression Betting Strategies article, we find these systems extremely risky. And we don’t recommend them to our readers. The Fibonacci sequence is the mathematical concept and can’t be perfectly implemented into sports betting.
Many negative things can happen! And if you don’t have the unlimited betting bank and the sportsbooks that will not limit your wagers… Then this betting strategy isn’t a good fit for you.
Without any doubt, there are many better betting strategies, that are not so aggressive on your betting bank! So our suggestion is to find some less progressive and aggressive betting strategy.
In some of our other articles, we already said that there is no perfect betting system that will work with 100% accuracy. There are some better and worse betting systems, but the closest to the perfect betting system is without any doubt, Arbitrage Betting Strategy. With that betting strategy, bettors make the safe bets and slowly build their betting bank. The biggest disadvantage of the Arbitrage Betting system is the fact that sportsbooks don’t like Arbitrage bettors and limit those accounts quickly.
The point spread is the betting line, which shows how much is certain team favored, and with how many points that team needs to win in order to cover the point spread line. The +/- 2.5 point spread line means that the favorite needs to win with 3 points difference or more for favorite backers to have a winning bet.
Several specialized betting sites accept only cryptocurrencies, but also many popular and famous sportsbooks accept Bitcoin as a deposit method. Bitcoin deposits are safe and fast, and most importantly, they are anonymous. There are many advantages of using cryptocurrencies in the sports betting world, and if you like to know more, then you should read our article, here.