One of the most important aspects of successful roulette play is using a money management system. Failure to take care of your bankroll can see it disappear very quickly before your eyes.
Many roulette systems are based on exploiting your knowledge of previous spins. This may give you an actual edge over the casino, but you still don’t want to risk too much of your bankroll at any one time. Even if you had a 90% edge in a game of chance you wouldn’t want to risk everything you owned on a single bet. You’ll always want to have a something left to continue your play with.
Roulette is Entertainment
Remember that playing roulette is a form of entertainment. To start with, you’ll want to enjoy what you are doing. That will hardly be the case if you spend every Euro, Dollar or Pound you have in a single session of play.
Your gambling bankroll should represent money you don’t need to live on. Don’t take your grocery money to the casino and don’t spend your max credit on an online game. Moderation is key.
How to Start
To determine your first roulette bankroll, examine your expenses and decide what you can put aside for a month of play. Whether you can replenish this amount each month or not, you should divide the total by ten and never put more than that one-tenth on the table at any time. In reality, you shouldn’t take more than one-quarter with you on any single trip to the casino.
By breaking your available bankroll down into units you will be forced to bet conservatively and manage your money throughout the month. If you lose the whole amount you’ve got to wait until next month to replenish your entertainment cash.
If you are lucky enough to have some winning sessions, you can increase your bets and take advantage of your hot streaks. After each session, reassess your bankroll and continue to divide your total into ten units. If you start the month with 200 Euros and have increased your stake to 500 Euros, you’ll be able to take 125 with you on your next trip – and your buy-in can now be 50, up from 20.
Your One Big Edge
Casinos win because they have the statistical edge, but they wouldn’t win nearly as much if players did just one thing – maximized their wins. Most players think they need to get their losses back and start betting more each spin when they are losing. That’s a huge mistake. Two keys to beating roulette are to have a money management plan you follow religiously, and to follow your system.
The other key is to bet the least when you are losing and bet the most when you are winning. There is no way to know when a winning streak starts or when it will end, but you will obviously win considerably more money if you increase your bets as you are winning. When the streak ends, back off to your lower bets. Do not chase your loses by increasing your bets.
Suppose you love to bet a chip to cover 1, 2, 3 and they keep hitting. You should certainly start betting each number individually so your payoff is higher, but the casino’s edge will also drop if you do so. With a 3-number bet you will be paid 11-1, but when you bet them individually you will be paid 35-1. Your overall bet goes from a payoff of 33 for 3 up to 35 for 3. That’s a big increase. If you continue to hit on a regular basis and your on-table bankroll is increasing, continue to increase your bets. When you see your chips decreasing, drop your bets back down.
If you are using a roulette system, such as Labouchere, where you risk a finite amount for each round, you’ll want to give yourself two or three shots while at the casino. Take your “trip” bankroll and divide it into three units before playing. Take a single unit and make that your “buy-in” for this round.
If you win the round by doubling your stake you can start another with the same amount or divide your new total by three and play your next round for the higher stake. Doing this allows you to have substantial wins on the nights when you and the roulette wheel are one, but limits the amount you can lose. That’s the real key to successful money management.
Stop playing when you’ve lost your allotted trip bankroll, but maximize your winning sessions by progressively betting more while the spins are good.
The Record Keeping
You should keep track of your sessions. Not just because you need to know what your current bankroll is, but you also need to know what is working. Record faithfully what happens in each session and with each system you try so you’ll have a record to help you choose which system to use on your next outing.
Remember: Exploit the winners, dump the losers, and stay faithful to your money management and protect your bankroll.