The Fibonacci betting system is founded upon the Fibonacci sequence which is quite well known in different areas such as architecture and art.  This sequence of numbers was created by Leonardo Pisan, an Italian mathematician, in the 12th century.

The series of numbers for the Fibonacci system is 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 and so on.  Each number in the sequence is produced by totaling the two previous numbers.  The concept behind this betting system is that a win will compensate for any losses.

• The first step when using the Fibonacci betting system is to place one unit on an even-money bet.
• In the event that the player wins the first bet, then the sequence is not started and the player places one unit again on the following bet.
• In the event that the first bet is lost, then the sequence of the Fibonacci betting system begins.
• The player then follows in the Fibonacci sequence of 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 etc., and having already placed a bet in the amount of 1 unit, places the next bet in the amount of the next number, which is also one in this case.
• If the next bet produces an additional loss, then the player progresses to the next number in the series.
• Upon a win, the player returns to the basic original betting amount.
• Once a number has been used by a player, it is then crossed out.
• It should also be noted that in the event of a win, the player erases the last two numbers in the sequence.
• The player comes to the end of the Fibonacci betting system pattern when all the numbers have been crossed out.

• It should be noted that this system is only recommended for a short period of play.
• The Fibonacci betting system is aimed at increasing wins in the short term.
• It is recommended to limit the length of a Fibonacci betting system row to six or seven consecutive losses.
• This is considered to be a relatively steady system.
• This method is appropriate for players using small amounts of money.

To conclude, the Fibonacci betting system is a simple method that involves following a set pattern of betting.  Many players prefer this system to other methods, such as the Martingale betting system, as it does not necessitate such high stakes.  It is advisable for players to bear in mind that no system is foolproof and this is also the case with the Fibonacci betting system.  Gamers are recommended to set limits and bear in mind that this particular system is most effective in the short term.