From jackpot slots to poker, there are many exciting options when it comes to casino games, but here’s a question: can you name the casino table game that’s thrilling, a wild spectacle and easy to play? The answer is roulette. Whether you’re playing online roulette or at a physical casino, you need a sound strategy to maximize your wins and minimize losses. Read on to find out about the best gambling money management strategies, from understanding betting limits to managing your bankroll.
First up, here’s a quick primer on the rules of roulette. For betting, you can choose odd or even numbers, low or high numbers (1–18 or 19–36) and red or black. There’s also an option to choose green; if you’re right, the reward you’ll earn will provide tasty payout odds of +3,500. This means that if you bet $10, you’ll get $350 in return.
In summary, bets can be divided into outside bets and inside bets. Outside bets, which include colors, odd/even, high/low, column or dozen, offer the highest odds but the smallest payouts. On the other hand, inside bets offer low odds but the highest payouts. They include the following: straight (single number,) split (two adjacent numbers,) street (row,) corner (four numbers that form a square,) basket (exclusive to American roulette, involving specific numbers) and double street bet (two rows.)
As long as you’re careful about money management, roulette brings all the thrills without breaking the bank. Here are some vital tips.
Bankroll Management
Bankroll management is essential. For this, you need a plan before hitting the table. Start by allocating a specific amount, separate from your regular expenses and savings, dedicated solely to gambling. Very importantly, only set aside money you can afford to lose. Ideally, you even want a separate account for your roulette money. These days, many casinos accept all kinds of web wallets, which offer an excellent way to achieve your bankroll management goals.
Set a Budget
Once you’ve decided on the amount, the next step is to create a budget for each gaming session. As a rule of thumb, you should only bet a maximum of 5% of your budget on each individual spin. Whether you’re playing casino games online or at a venue, never exceed that limit. If you do lose the whole amount, wait until the next month to replenish your bankroll. However, suppose you’re lucky enough to enjoy some wins. In that case, you can increase your bets — a good gambling money management strategy involves reassessing your bankroll after each session and dividing your total into the number of planned casino visits for that month.
To stretch your roulette money further, take regular breaks when playing. The longer you are at the table, the more time the casino has to earn money from you. Regular breaks also keep you sharp.
Leverage Those Winning Streaks
Even though some players believe there are strategies for predicting where the roulette ball will land, such as using number prediction software, the bottom line is that roulette is a game of luck, with the house having an edge. Nevertheless, when playing online roulette for real money, you may get lucky. Here are some tips for increasing your chances of winning:
- Choose European roulette over American roulette — the house edge of European roulette is +3,604 versus +1,801 in American roulette.
- Pick bets with the best odds — high/low, even/odd and red/black offers odds of +106 in European roulette. Note, however, that the payout is only ±100.
If you win big, splitting the money in two is a good money management strategy. Add half to your bankroll and only use the other half for gambling. With this method, you ensure that you’ll walk away with an overall profit when gameplay ends.
Understand Betting Limits
Roulette tables often have minimum and maximum betting limits, which are usually noted on a special plaque. Minimum bets could be as low as $5, while others could have significantly higher minimum levels. Select a table that aligns with your budget. Lower minimum bets allow you to stretch your bankroll further — for example, with a minimum bet of $5, a player with a $200 bankroll can enjoy up to 40 spins.
Know When To Walk Away
Sometimes, it’s best to walk away. Every player experiences a bad betting session or a losing streak. Before approaching a casino, you need a plan outlining what to do in such a scenario. The best advice here is to determine your “loss limit,” which should not exceed 50% of your initial amount of money. The reason for this is that players can lose control in cases of long losing streaks and start chasing losses in the hope of making money back. Never do this. Instead, leave the table and come back another day.
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