BetMGM’s library of casino games online is huge and the number of ways to play those games is just as massive. Players’ choices can be as individual as they are but there are also some common casino winning strategies.
These systems include the Fibonacci betting system. It’s a popular gambling strategy that owes its name and rules to a famous mathematical sequence.
However, you don’t need to be a mathematician to follow the method. BetMGM makes it easy to explore playing many games with the Fibonacci strategy.
What is the Fibonacci System and How Does It Work?
To understand what the Fibonacci betting system is, you need to understand the Fibonacci sequence. In the Fibonacci sequence, each number is the sum of the two numbers preceding it.
For example, a standard Fibonacci sequence usually goes 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, etc. The person who developed this sequence was Leonardo of Pisa. He was also known as Fibonacci.
The Fibonacci gambling strategy takes those numbers and assigns stakes in gambling bets to each. It is quite simple once you understand the rules.
How to Use the Fibonacci Betting System
Before you start playing any game with the Fibonacci system, you need to establish an overall budget for your gaming session. This is important not only for the math of the strategy but for responsible gambling practices as well.
Additionally, set a time limit and win limit for your play. After doing so, decide how much you want to wager on each bet. That will be your unit going forward.
Once you have set all your parameters, you’re ready to start playing with the Fibonacci system. You’ll start with the second Fibonacci number, as the first is zero. With each step, you multiply your unit by the Fibonacci number.
With each wager, you progress in the Fibonacci system until you hit your win limit, your time limit, or exhaust your overall bankroll. As an example, assume you’re playing online roulette and your unit is $10.
The second Fibonacci number is 1, so 10×1=$10. Your first bet in this instance would be $10. Moving on, your second bet would be the same amount as the second Fibonacci number is also one.
Your third bet would be $20, as two is the third Fibonacci number, and 10×2=20. While this is a simple method once you understand it, that doesn’t mean winning with it is easy.
Pros and Cons of the Fibonacci Betting System
Creating a sustainable gambling bankroll with the Fibonacci system is possible but you need luck on your side to do so. There are as many disadvantages to the strategy as advantages.
The upsides of using the Fibonacci system include taking the guesswork out of your betting and helping you play responsibly. The Fibonacci system can also maximize your wins, allowing you to make a small profit with some luck.
However, like other betting methods, the Fibonacci strategy can exhaust your budget quickly if luck isn’t on your side. With a little bad luck, you might find yourself placing wagers that seem out of proportion with the potential return.
To limit that downside, many players will also set a gambling loss limit. For example, you might end your session early if you lose three consecutive bets.
Another great thing about the Fibonacci system is that it is a versatile strategy. You can apply it to nearly any game that BetMGM offers.
Casino Games Where the Fibonacci System Can Be Used
BetMGM players regularly use the Fibonacci system to play baccarat, blackjack, craps, roulette, and even slots. It can work with all of these games with some tweaking.
In that adaptation, the important thing is to stick to bets with similar odds. In roulette, for example, you may want to stick to outside bets to make the Fibonacci system work.
For fans of baccarat, the dealer bet could be your main focus. Betting systems fail when there is too much variance from one wager to the next because it throws off the math.
That’s true for other systems besides the Fibonacci. BetMGM is the top choice for players looking to explore betting strategies on a wider scale.
Other Casino Betting Systems to Try
Popular gambling betting systems all become easier to follow with experience. There are many strategies besides the Fibonacci to try.
The Paroli betting system is a popular positive progression system while the Romanosky betting system is a common choice for roulette players. All of these casino game betting strategies have the goal of setting you up to realize a small profit if you get lucky.
The best way to try any or all of them is to register for BetMGM and make a qualifying deposit. When you do, you’ll get in on BetMGM’s amazing casino welcome bonus for new players. If you collect some winnings, you can thank Fibonacci and his mathematical discovery.
