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The Fibonacci betting system and how it works

Whenever you're settling down to play a casino game, be it at a brick and mortar or online at somewhere like Betfair Casino, it becomes tempting to try and develop a system so you can 'beat' the casino. There's a lot of ways to go about this but most systems will eventually lead into the two main approaches of either positive or negative progression, increasing your stake if you win or lose. But one of the most interesting systems to come up in recent times is inspired by a famous mathematical formula and has a unique niche in the area of systems.

The Fibonacci sequence was invented twice, once in India devised by numerous mathematicians (most likely Virahanka) and again independently in Italy by Fibonacci in 1202 AD. The sequence is fairly simple and goes as follows:

1, 1, 2, 3, 5, 8, 13, 21, etc

Every number in the sequence is the sum of the two previous numbers which (translated into squares) produces a spiral in what is known as the golden ratio.

While this is one of the coolest sequences in mathematics, it also has the distinction of being a betting system which relies on more than a 50:50 chance.

You may have already worked this out, but the Fibonacci betting system involves placing bets that fit into the sequence. It's not a straight doubling and unlike the Martingale doesn't involve a complete reset after you win. What happens is you start at 1 and if you lose you move up the sequence to 2, again to 3 then to 5. This helps keep your bets relatively low but what you do when you win is go back by 2 down the sequence. So, for instance, if you bet 5 and win you go back to 2 rather than 1. This helps balance your losses and doesn't have a major impact if you start to win again. This system's also been regarded as a good choice for sports betting as the odds of a draw in a game of football are notoriously difficult for bookies to predict and as long as the probability is reasonable, there should be a pay-out on average for the fourth game which is the greatest number if not for any games before.

It'd be nice to say the system works better than any of the others but truthfully it suffers from much the same drawbacks. With any progression system, the over-riding flaw is that the results of past games have no impact on the one you're playing right now. Flipping a coin as heads 9 times in a row previously doesn't make tails more likely for the tenth flip. While it hedges around the issue with the back 2 on a win, the truth is that over a long enough time frame, you will likely be unlucky enough that you reach the bet maximum and can't make back your losses with just one win, assuming your bankroll even lasts that long.

That's not to say this system can't be fun, but as with any system, it just can't get past lady luck no matter how clever it seems.

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