The Fibonacci sequence has been apart of Indian Mathematics since the first known writings of it by Virahanka in 700 AD. So as you can see this method has attributed to the world for a very long time and has been used in gambling for hundreds of years. For this method is used mostly in roulette, it has also been used in just about every other form of gambling such as blackjack, craps, baccarat and bets outside of casino games.
When using this strategy how does the player know how much money to start off his first bet? Completely depending on your bank roll the player should regardless start out somewhat small. The problem with placing to high of bets starting off is that your first bet continuously multiplies as the sequence progresses. If you place a $100 bet, before you know it you will be at a couple hundred dollars.
Now what does one do regarding to the Fibonacci sequence after a bet is won instead of lost? Say you lost your first 4 bets, you would then be 4 numbers up in the sequence which would put you at unit 5. After every win wherever you are in the sequence states you should move down two units. However this would now put you at unit 2 and you would then wager 2 times the original bet. So if your first bet was 5 dollars you would then be wagering 10 dollars. The only time that you reset to the start of the sequence is if you have not move up 2 numbers in the sequence before a win.
Keeping track of the way this betting strategy functions can be stressful. And knowing your profit margins can prove to be very important. Quite often when using the Fibonacci, when the player is ahead a hefty sum they should reset to the beginning of the sequence. All-though this method has proven to be successful, negative progression can always have its detriments. Along with this strategy usually comes betting with a large amount of money at some point in the sequence. Knowing when to get up from the table and walk away is important. Keep in mind you are relying on chance, and a winning streak may be the right time to take your chips and go.