Roulette, just like any other casino game, comes with the risk of emptying out your pockets within minutes. Keeping track of your bankroll is the wisest tactic to avoid losing every penny when gambling. Whether we play roulette, poker, or video slots, it is always crucial to have a money management plan in place, even though it cannot change the realities of casino gambling – that the house has the edge.
Importance of Money Management
Understanding the importance of money management is fundamental to long-term success when playing roulette online or in a land-based casino. The concept of managing one’s bankroll and adjusting the playing style accordingly is practically the same whether it is a live game or virtual roulette.
First and foremost, players should know that no money management plan, no playing strategy or betting system will shift the odds in their favor – each casino game is structured in such a way that it gives the house a mathematical advantage. As a negative expectation game, roulette is a wonderful example of that and over time, casinos will always make a profit from players’ losses.
Depending on whether they feature an American or a French/European wheel, roulette games may have a house edge of 5.26% to 2.70%, which means that players are expected to ultimately lose 2.70%-5.26% of their bets on average. This is just a theoretical expectation, though, and in a real-life situation, some players may lose over half of their bankroll, while others may end up in a profit.
And this is where money management comes in – with careful planning and a good money management strategy, players have a chance to maintain their bankroll for longer. In other words, money management cannot guarantee profits – it can only help lose money in a much slower fashion so that you can enjoy your gambling experience to the full.
Last, but not least, money management helps players maintain discipline and self-control even after a long losing streak that could easily stir up some negative emotions. Chasing losses is never a good idea so following a strict bankroll management plan will help players make wiser decisions and quit playing at the right time.
First Steps into Online Roulette Money Management
Determine the Size of Your Bankroll
Determine a Basic Betting Unit
To implement a successful money management strategy, online roulette players need to be familiar with the basics and one of the most important rules is to always stick to your budget. Casino patrons should be able to come up with a fixed amount they will play in the casino with – depending on their financial status, this could be $500, $5,000 or 50,000. Irrelevant of their luck on the tables, they should never spend more than this fixed amount.
We will refer to this amount of money as the bankroll. It must be kept separate from the money for bills, rent, food, and gas and instead, it must be dedicated to playing roulette. It should not be considered savings or investment money. To put it differently, your bankroll should be money you are prepared to lose since gambling always involves financial risk.
The specific size of the bankroll should be up to the players – it should be an amount they are comfortable with, even if this is only $100. In fact, there are many online roulette games allowing bets from $0.10 so a $100 bankroll is not as small and negligible as it may seem. After all, $100 is sufficient for a thousand gaming rounds if we stick to the minimum bet per spin. Considering we play 50 rounds per hour, our bankroll should last for at least 20 hours of play, which is quite a lot, indeed.View more...
Money Management Strategies
There are many different money management strategies and tactics and they depend on the players’ personal preferences, experience on the roulette table, and tolerance for risk. There cannot be one universal method for managing your gambling bankroll, so below we have selected some of the most widely used tactics among roulette players.
Choosing More Favorable Rules
As we have explained above, no money management plan can change the odds of the game. All casino games give the house a certain mathematical advantage, which is built into the rules and payouts. This is why players should always look for types of games with a lower house edge. When it comes to roulette, the European and French-style wheels offer better odds and a house edge that is half of that in the classic American roulette.
Progressive Betting Systems
Progressive betting systems are extremely popular among roulette players and they can be applied to both online games and traditional games played in land-based casinos. Unlike the strategies for playing other games such as blackjack or poker, betting systems do not involve decisions on how to play the game. Instead, they are usually applied with one type of bet (even-money bets) and include adjusting the bet size based on past outcomes or on the expectations for the future.
These systems, often called betting progressions, comprise of simple rules that determine the size of the stake at any given moment during the game. Sometimes, they also include sequences of numbers that demonstrate how many units one should bet after a win or a loss. Players should know that there are several types of betting systems, namely positive, negative and flat and some of them can be extremely risky for their bankrolls.
It is also important to understand that these systems do not give any guarantee that you will generate any substantial profit over time. On the contrary, using some progressive systems may lead to quickly depleting your bankroll - for example, some of them require you to double your bet after each loss. This is why they should be applied very carefully and analyzing their pros and cons.
Taking Advantage of Comp Points
Most online casinos have loyalty or VIP programs intended for regular players. They reward patrons for their activity on the website – i.e. their gambling, with points that can be exchanged for cash or other perks and rewards. Roulette players can take advantage of such schemes and offers but before claiming a cashback bonus or some other reward as part of the loyalty program, they should carefully review the T&Cs of the casino.
There are multiple restrictions and conditions applying to cashback or other types of bonus funds – maximum bet per spin, wagering requirements, maximum cashout, etc. Players should also check how many loyalty points they can earn while playing roulette – some casinos reward more points for slots play, for instance. To make the most of a casino loyalty program, players should also take into consideration the following factors:
- Comp return rate or percentage
- Speed of the game
- Number of hours played
- Average bet and the total amount wagered
- House edge and theoretical loss per hour