Blackjack is a highly mathematical game and the success of the blackjack player depends to a certain extent upon knowledge of probabilities and basic math. It should come as no surprise to any blackjack player that the Fibonacci sequence can be applied to betting in blackjack.
Before trying to use the Fibonacci sequence in blackjack it is a good idea to become familiar with the Fibonacci in general and learn the basic theory of it.
What is the Fibonacci Sequence?
The Fibonacci sequence is very old. It is attributed to a mathematician named Leonardo of Pisa, who published the sequence in 1202. Leonardo was also known as Fibonacci, hence the name of the sequence. There is some dispute, however, as to the genuine origin of the sequence. It has been proven that some Indian writings, published long before Leonardo’s work, contain examples of the Fibonacci sequence.
For our purposes, the history of the Fibonacci sequence is marginally important. It will be helpful, however, to give an example of the sequence.
As you can see, each number in the Fibonacci sequence is the sum of the two numbers which immediately come before. 0+1=1, 1+1=2, 1+2=3, etc. This is always the manner in which the Fibonacci sequence is written.
The Fibonacci Blackjack Betting System
Sooner or later, mathematically-inclined blackjack players were bound to develop a blackjack betting system based on the Fibonacci. As far as using this betting system in blackjack, it is very straightforward and simple.
The blackjack player begins with a bet of one unit. This is the first number in the Fibonacci sequence that allows the player to begin. Each time a bet is won, the next bet corresponds to the next number in the Fibonacci sequence.
Here is how the Fibonacci betting system would be used at the blackjack table:
As long as you know what the next number in the Fibonacci sequence is, you’ll always know what to bet. Whenever you lose a hand, the sequence begins again.
Because it is simple, and because it was not specifically designed for blackjack betting, some critics claim the Fibonacci method is a poor method of betting in blackjack. In fact, when examined closely, the Fibonacci betting system has all of the hallmarks of a sound blackjack betting strategy.
Advantages of Fibonacci Blackjack Betting
The first thing to notice about the Fibonacci system is that it is what is known as a positive progression. Positive progressions are the only systems which will work for blackjack betting in the long run. In a positive progression, the player only increases their bets when they are winning. The bet is never increased while the player is losing.
Many positive progressions in blackjack dictate that the player’s bet is doubled after each winning hand. It has been demonstrated in other articles here on Counting Edge that this type of progression will not sustain a profit. Instead, bets must be increased in increments which correspond to the minimum bet at the blackjack table. The Fibonacci betting system is a wonderful example of how to do this correctly.
In the Fibonacci sequence, a player will never be forced to double their bet. A profit from each winning hand will always be retained. Only a portion of the profits will be bet on subsequent hands. By doing this, a player increases their chances to not only walk away from the blackjack table with a win but to also reach a point in the session where they are essentially playing with the house’s money.
A final advantage of the Fibonacci betting system is that it maximizes the player’s ability to take advantage of sustained winning streaks. All betting systems are designed to exploit streaks, but the Fibonacci increases the bet in a way that gives the player maximum leverage of their bankroll.
Disadvantages of Fibonacci Blackjack Betting
There aren’t many bad things to say about the Fibonacci, but one glaring disadvantage stands out. In order to truly profit from the Fibonacci, a player needs a sustained winning streak of 5 or more hands.
The Fibonacci takes a while to begin raking in a sizable profit because it begins with just a one-unit bet. In addition, the next bet in the sequence is also one unit. On the third winning hand the bet becomes three units, and then increases to five. This slow progression is sometimes ineffective because sustained winning streaks do not happen that often in blackjack.
A player can offset this disadvantage of the Fibonacci by only employing the progression when the true count has become very high.