I have now decided to do a test of the Gofibonacci horse racing system. It’s a system that has been around for quite some time and there has been lots of talking about it on different forums because it is so simple. I personally thought I could guess the selection process without buying the system, but I was wrong 
What is included in the Gofibonacci horse racing system?
You get Gofibonacci in a PDF ebook you can download and there is 16 pages, where only a few of them are with the system selection process. The selection process is quite simple but also have other rules than just laying all odds on favourites. Then there are some information about the staking plan which has a stop loss included so that it will never get too high.
Gofibonacci is a very simple system that I hope will turn out to give the same results as the author quotes since it then will be a very good addition to my betting portfolio.
To operate the system you need to be at your computer after each race so you know what amount to place on the next horse.
Problems with the results quoted on the site
One problem that I don’t see any other so called unbiased review sites mention is that the results are quoted at inudstry SP and NOT actual Betfair prices. Everyone knows that it’s never possible to LAY at industry SP over a long periode. Mostly the odds you are laying is 10% higher than industry SP. This means that you lose more money than quoted on the results section. Another problem is that you don’t get the same selections since many of those horses that are quoted around 1.85 and higher actually only is available at Betfair at odds 2.02 or higher which means it’s a no bet.
This means that you DON’T get excactly the same selections as shown in the results page. I really don’t understand why the author don’t use Betfair SP if he believes the system works, there is no excuse for not using Betfair SP. To be fair I have to say that he seems to use the Industry SP consistently, so he has also loses where the industry SP showed a bet but you would not bet because the odds were too high at betfair. Time will tell if it works at Betfair SP – But no doubt that the actual results will be lower than those quoted on the site.
I will in the coming month update with my results the days I’m available at a computer to play the selections so stay tuned and read my Gofibonacci review when I’m finished with the test.
FINAL REVIEW OF GOFIBONACCI (3rd september 2008)
I have now decided to stop the test of this system. The reason is that I simply don’t believe that it can make a profit in the long term. As you can see we ended with a big losing streak that wiped out a couple of months good return in just a couple of days. It will take a lot of time to recover from this, and I don’t like such systems.
Furthermore the system has been shown to do a lot better as a backing system. Actually it has done so well that I may consider using it in reverse. This means maybe use the Fibonacci staking plan with backing the selections. If I had done so I would have a profit of 2258 so far. However, this is still early days and I need a lot more results before I will conclude anything about this system as a backing system.
As you can imagine this is now going to be a NOT RECOMMENDED system (unless you want to experiment with it and making it a backing system where it shows a quite good level stake profit).
Many other so called review sites have this as a recommended system because they have only testet it shortly, these streaks of “bad luck” happens quite often and when it happens it will destroy most or all of your profit made in other months.
Conclusion is that I will not use this system, but will look at a way to maybe profit from it in a Backing perspective.
Some results from the test periode:
127 bets placed
Lay Strike rate 39,37%
14 unit level stake loss
Test Results started 9th June – start stake 50:
9th June
Newt 2.30 LAY Rapscalion odds 1.59 – WE WON 47.50
10th June No selections qualified before race start.
11th June
Brighton 3.00 LAY African pusuit 1.87 – We lost 43.50
Bev 4.50 LAY Tableu viant odds 1.85 - We won 95,00
Ham 9.40 LAY society music odds 1.73 – We won 47,50
Leo 9.00 LAY Timari odds 1.80 – we won 47,50
12th June
LAY The good guy odds 1.63 – We lost 31,50
LAY Panjo bere odds 1.91 – We lost 91,00
13th June
LAY MISS CAROL 1.98 – WE WON 142,50
14th June – Not available to bet
15th June
Lay Factotum 1.88 – we won 47,50
16th June
Sedge 2.3 LAY Simarian odds 1.91 WE WON 47,50
17th June
Filigree odds 1.94 WE LOST 47
18th June
Reve de soleil odds 1.62 WE LOST 62
5.10 LAY Shady Gloom odds 1.92 LOST 138
8.55 LAY Hits only vic odds 1.98 LOST 245
19th June
Fair 6.35 Lay Glisten odds 1.76 Lost 608
20th June
Muss 4.35 Faraway sound odds 1.74 WE LOST 962
Good 6.20 Mohatab odds 1.75 WE WON 1995
Lim 9.00 Ballet boy odds 1.86 WE WON 47,50
21st June
Redcar 4.10 Lay Filigree odds 1.85 WE WON 47,50
22nd June
Ponte 3.10 Kaateb odds 1.90 WE WON 47,50
Redcar 4.10 Lay Filigree odds 1.85 WE WON 47,50
23rd June
6.00 LAY Kalellshan odds 1.69 WE LOST 34,50
8.20 LAY Victoria Reel odds 1.89 WE WON 95
24th June
3.00 Lay Zaarmit odds 1.96 WE LOST 48
25th June
8.00 Lay Toirneach 1.91 WE WON 95
26th June
4.10 Lay Almajd odds 1.63 WE WON 47.50
9.00 Lay Flying Carets odds 1.53 WE LOST 26,50
27 June
3.15 LAY Zilcash odds 1.86 WE WON 95
7.15 Lay Cornish Rose odds 1.55 WE LOST 27,50
28 June
3.00 Lay Tranquil tiger odds 1.75 WE WON 95
3.35 LAY King of Dixie odds 1.98 WE WON 47,50
4.00 Lay My Aunt Fanny odds 1.65 WE LOST 32,50
8.15 LAY Caprivi odds 1.97 WE LOST 97
29 June
3.10 Lay Mastercraftman odds 1.79 WE LOST 118,50
3.30 Special Reserve odds 1.89 WE WON 237,50
30 June
3.15 Lay Indian Art odds 1.91 WE WON 47,50
4.45 Lay Lee Miller odds 1.77 WE LOST 38,50
6.40 Lay Like for Like odds 1.98 WE WON 95
7.40 Lay Lindelaan odds 1.95 WE LOST 47,50
1 July
2.30 Lay Readily odds 1.65 WE WON 95
7.30 Lay Inchwood odds 1.94 WE LOST 47
2 July
2.30 Lay watergate odds 1.80 WE LOST 80
3 July
3.00 Lay Rocket Bob odds 1.97 WE LOST 145,50
3.40 Lay Tanto Faz odds 1.67 WE LOST 167,50
6.40 Lay Rivaulx world odds 1.62 WE LOST 248
9.20 Lay Sceilin odds 1.78 WE WON 617,50
4 th July
3.25 Lay Zacinto odds 1.96 WE LOST 48
9.10 Lay Quotation odds 1.61 WE LOST 61
5 th July
8.05 Lay Terracos Do Pinhal odds 1.74 WE WON 142,50
6th July
2.50 Lay Snow Bay odds 1.80 WE LOST 40
3.15 Lay Sanglote odds 1.94 WE WON 95
3.30 Lay Desert Chill odds 1.45 WE LOST 22,50
7 july
2.15 Lay Highland Warrior odds 1.57 WE LOST 57
6.50 Lay Lizzie Wiggins odds 1.70 WE WON 142,50
7.20 Lay Sweet applause odds 1.94 WE WON 47,50
9.20 Lay La Sarrazinbe odds 1.87 WE LOST 43,50
8 July
No qualifying bets
9 July
2.20 lay Casual style odds 1.79 WE LOST 79
10 July
2.45 Lay Tableau Vivant odds 1.51 WE LOST 76,50
7.20 Lay Schindlers Gold odds 1.99 WE LOST 247,50
11 July
No selections
12 July
3.10 Lay Bhamian odds 1.90 WE WON 380
7.10 Lay little jimbob odds 1.79 WE LOST 39,50
13 July
2.40 Lay Franc Villes odds 1.73 WE LOST 73
14 July
6.40 Lay Icemancometh odds 1.77 WE WON 142,50
15 July
6.10 Billion dollar kid odds 1.90 We lost 45
16 July
4.20 Lay Master of Arts odds 1.73 WE LOST 73
6.00 Lay Incline odds 1.98 WE LOST 147
6.30 Lay Chintz odds 1.92 WE WON 237,50
17 July
3.50 Lay Pampas cat odds 1.77 WE LOST 38,50
5.00 Lay Changing Skies odds 1.96 WE LOST 96
5.45 Lay Thomas an Tsioda odds 1.96 WE LOST 144
18 July
3.50 Lay Montbreia odds 1.70 WE LOST 175
7.15 Lay Hoh Mike odds 1.72 WE WON 380
19 July
7.40 Lay Welsh Emperor odds 1.98 WE LOST 49
20 July
3.40 Lay Our Choice odds 1.99 WE WON 95
21 July
3.15 Lay River dee odds 1.56 WE LOST 28
6.10 Lay Belles Ridge odds 1.87 WE LOST 87
6.30 Lay Metroland odds 1.71 WE LOST 106,50
22 July
7.30 Lay Distiller odds 1.90 WE LOST 225
23 July
2.50 Lay Debbys Boy odds 1.90 WE WON 380
6.45 Lay Burning Flute odds 1.97 WE LOST 48,50
24 July
6.00 Lay Arabian Art odds 1.69 WE LOST 69
25 July
NO SELECTIONS QUALIFIED
26 July
4.15 Lay Captain Ellis odds 1.58 WE WON 142,50
6.50 Lay You’ve been moved odds 1.80 WE WON 47,50
7.05 Lay Elnawin odds 1.57 WE LOST 28,50
27 July
No selections qualified
28 July
2.45 Lay Night of fortune odds 1.48 WE WON 95
6.20 Lay Broad meaning odds 1.90 WE LOST 45
29 July
6.40 Lay Mhilu odds 1.97 WE LOST 97
7.35 Lay Rare ransom odds 1.78 WE LOST 117
30 July
3.45 Lay Premier Dane odds 1.98 WE LOST 245
31 July
3.30 Lay Yeats odds 1.65 WE LOST 260
4.50 Lay Laoch Dubh odds 1.90 WE WON 617,50
6.25 Lay cool Dodger odds 1.76 WE WON 47,50
1 August
5.55 Lay War Native odds 1.88 WE LOST 44
7.25 Lay Matters at hand odds 1.81 WE WON 95
2 August
5.05 Lay Dark Humour odds 1.93 WE WON 47,50
3 August
4.15 Lay Suailce odds 1.91 WE LOST 45,50
4 August
2.50 Lay Vilasol odds 1.66 WE WON 95
4.15 Lay kossack odds 1.48 WE LOST 24
5 Aug
2.45 Lay It’s Toast odds 1.94 WE LOST 94
6 Aug
2.30 Lay Starry Sky odds 1.86 WE LOST 129
8.20 Lay Act of diplomacy odds 1.49 WE WON 237,50
7 Aug
3.50 Lay Cetain promise odds 1.77 WE LOST 38,50
6.05 Lay Casual Garcia odds 1.88 WE LOST 88
6.40 Lay Oil Man odds 1.98 WE LOST 147
8 Aug
2.50 Lay Distiller odds 1.94 WE LOST 235
5.55 Lay Total exctiement odds 1.90 WE LOST 360
7.05 Lay Servoca odds 1.80 WE WON 617,50
7.50 Lay Meydan city odds 1.83 WE LOST 41,50
8.35 Lay Amber queen 1.80 WE WON 95
9 Aug
NO SELECTIONS QUALIFIED
10 Aug
3.10 Lay Cherri fosfate odds 1.67 WE WON 47,50
11 Aug
4.15 Lay Mizen Raven odds 1.88 WE LOST 44
12 Aug
6.25 Lay Crack down odds 1.59 WE WON 95
13 Aug
3.55 Lay Myanmar odds 1.69 WE WON 47,50
4.30 Lay Maddy odds 1.96 WE LOST 48
14 Aug
3.05 Lay Poyle Dee Dee odds 1.71 WE WON 95
4.00 Lay Censored odds 1.70 WE LOST 35
15 Aug
2.20 Lay Shyrl odds 1.90 WE WON 95
6.25 Lay King Olav 1.86 WE LOST 43
16 Aug
2.50 Lay Zuzu odds 1.99 WE LOST 99
6.40 Lay Seymour Weld odds 1.46 WE LOST 69
17 Aug
2.30 Lay Shiva adiva odds 1.82 WE LOST 205
18 Aug
2.45 Lay Crystal Moments odds 1.83 WE LOST 332
4.00 Lay War Native odds 1.57 WE LOST 370,50
19 Aug
5.25 Lay Keepitsecret odds 1.97 WE LOST 1018,15
7.10 Lay Good Citizen odds 1.88 WE LOST 1496
Running Total since 9th June: -2516
(50 used as starting stake)
All results from 16th june and after will be made from Betfair SP so everyone will be able to get the same results.
When I saw the results page at GO FIBONACCI, i worked out how the system works, and at first it seems quite promising………..until you think about it a bit more.
This system is another one of those systems where you keep increasing your stakes until you find a winner or loser (whatever the case).
Looking at the results page, you see that the stakes are £1 for 1 point (incidently Betfair’s minimum stake is £2) and that in at least one instance you would of had to of made a bet of
£34 after a long losing streak just to get your previous stake money back…and yo could lose that bet as well.
The reality is that even if you were betting with only £10 stakes for 1 point, you would of been placing a bet of £340 just to get your money back!!
People sell systems saying that favourites win 1 in 3 races, maybe true as an average, over time.
BUT on a daily basis this doesn’t happen, some days favorites romp home and other days you cant get a winner.
Basically what i’am saying, is generally you could make money on this system, but you will have a spell eventually when your on a long losing run, and if you place stakes as per the formula, it will take only a few losses before you’d be placing really large amounts of money.
It will be a very nerve wracking experience, and you’d be probably better stopping the losing sequence after a few losses, and starting again.
Stay away from these loss retrieval systems!!!!!
Hi STeve,
Thanks for your comment and I must say that I agree with you in most of your statements.
However, there is a maximum on the loss sequence in this system (otherwise I would not even bother to test it because at some point a very unlucky streak could wipe out 1 year profit).
I think that when you encounter the losing sequence where you also lose the bet of 34 then you would probably have lost around 40-50 units maximum in the sequence. This will be 1-2 months of profit. However, if this only happens 1-2 times a year then it will still give good results.
My problem is that in the result section you never see a 34 unit selection actually lose, and the criterias are so that you could say that this was not a selection due to…… That’s why I’m testing it, the results are promissing and even though I’m not very happe about loss retrieval plans then I guess it could be fun to see how it goes
I’ve followed a system for 3 years similar to gofibnacci called Little Acorns. I have only had one losing sequence in 20 months, so its made plenty of money and could now easily absorb a losing sequence. i dont know why people are scared of the escalating stakes systems, so long as the system is proven by past results and has the stats on its side then its fairly safe. Its very hard to make profits level staking, so adopting progressive staking can pay big dividends with the right product.
Hi Admin
when i check back the results i found that my bet is different from yours
are you placing the bet 1 minute before off? or at the very early morning?
it’s an interesting point because i only generate 6points profit and you generated 19points profit, hope can hear from you soon.
I test it at betfair SP so it should be possible to obtain excactly the same results as quoted here.
I just received an email from Benjamin Street (owner of Gofibonacci) who is apparently trying to sell the system and website.
Look at:
http://clicks.aweber.com/y/ct/?l=ITZj4&m=1fsjlDvnxmbGu5&b=wERLd8OtCNmmsALy.tofRQ
Jon
Hi,Charlie who did you buy Little Acorns from. I seem to remember seeing it some where let us/me know.
Yours Robert. robertday13@btinternet.com
The test results says it all! Fibonacci staking plans are the quick way to the poor house. I am not surprised the system author is trying to sell the website!
No-one with any common sense is going to risk a 2,500 stakes on two odds on favourites! (19 August. The next bet would be 3,400 !!!
He is also busily promoting Betting autocash at the moment …………..
Jon
I emailed Mr Street, politely pointing out that, in my opinion, his loss recovery system is eventually going to lead to the poor house. I received a very abusive email from him for my pains. A very touchy individual!
Anyone knows if he succeeded selling the website and system on sitepoint some months ago??
I have just had an e-mail. He is now selling the system for £10
Ant
Keep your money in your pocket! This system does not work long term and certainly not to level stakes.
Jon