Roulette is one of the most popular and exciting casino games for both online players and those who visit on-the-ground casinos. It’s a game of luck and the players can’t affect its outcome. The only thing for a player to do is to practice careful bankroll management and implement a variety of different betting strategies.
In this article, we’ll go in-depth about how important bankroll management is for roulette players and what players need to pay attention to when it comes to managing their bets.
Understanding Bankroll Management
A bankroll is the sum of money that the player has at their disposal to bet. It doesn’t matter if you play in roulette sites that accept Bitcoin, if you use only fiat money or both. All of the funds combined are referred to as bankroll and the process of managing it refers to how the funds are allocated.
The process is crucial to betting as it lowers the risks that are inherent to gambling games. Good bankroll management can also prolong the gameplay and allow the players to enjoy the games longer. It also provides the players with strategies used to recoup after losses.
What to Avoid With Roulette Bankroll Management
There are a few common mistakes that players make when they manage their funds in roulette games. These are intuitive actions but the players should fight against them as they end up increasing the risk and can lead you to burn through your bankroll too fast.
One of the most common mistakes players make is over betting in roulette games. Players often believe that a few bold bets that they win early on can help them increase their initial budget and bet with a newly gained safety net.
There’s an internal logic to this argument but more often than not, over betting leads the players to quickly burn through their entire budget. Betting that way makes the game less fun and less satisfactory.
Chasing Your Losses
Roulette is a game of luck and every spin is determined by a random number generator. This means that there’s no point in chasing your losses after a few bad turns. Players often fall into the trap of expecting a win after a few losses as they feel they are owed a win.
However, the outcome of a roulette spin is randomized and players can have long streaks of losses as well as no pattern at all in their outcomes.
Inconsistent bets are the worst way to approach a roulette game as the outcomes are already randomized. Players can’t control how a spin will turn out but they can control how much they’ll bet and when. Increasing the size of the bet on a whim is usually ineffective.
Instead, players should set their baseline bet that they can increase to recover the losses, or that they can return to when the bets are going their way.
Knowing the Risks
Before making any bankroll management strategy players should be aware of the risks involved. The information about risks, chances, and volatility is public for each game and type of bet is available online and the players should study the odds.
Inside and Outside Bets
Inside bets, such as straight-up bets, splits, or corners have potentially higher payouts, but the odds of winning them are pretty low. Outside bets like red/black or even/odd have a much lower payout but they are 50:50 bets meaning that there’s always a 50:50 chance of winning or losing.
The House Edge
Roulette has an edge in favor of the casinos as is the case with any other gambling game. How big the edge is depends on the type of roulette you’re playing. American roulette has a somewhat bigger casino advantage than the European one.
The most common betting strategies for roulette games also have risks of their own. The strategies with the lowest risk such as Martingale have the lowest risk, but that means the players will increase their budget incrementally, by recovering their losses and betting the same amount once they win.
How to Protect Your Bankroll
There are many bankroll management techniques that can help players protect their bankrolls regardless of the type of roulette they are playing and the size of the bankroll. Many of these can be automated when betting in online Bitcoin casinos.
Diversify Your Bets
The best way to protect your bankroll is to diversify your bets. This means both placing a mixture of inside and outside bets (of different odds) and placing bets of different amounts. This will increase your chances of winning even though the potential winnings may be lower than hedging your results on one large bet.
Stop Loss and Stop Win Limits
A stop loss is an essential part of every bankroll management strategy. It’s the amount the player is willing to lose after which they’ll give up on a game of roulette. It’s essential to set up a stop loss early on and to stick to it. With most of the online casinos you can even automate it and the game will sign you out automatically once you reach the amount.
A stop win is a much less discussed term but it’s equally important. It’s the amount after which the player is ready to withdraw their winnings or at least a portion of them. This too can be automated in most online casinos.
Segment the Bankroll
Many players find that it helps to segment the bankroll into different sessions. For instance, if you have $5.000 at your disposal, separate the bankroll into 5 sessions of $1.000 with each session having its own stop loss and treated as an individual bankroll.
This will help the gameplay last longer and it gives the players a chance to better plan their strategies. Such an approach also allows the player to test out different strategies and use a different approach for each session. That way they can change things up if one of the sessions doesn’t work out.
The Importance of Self-Discipline
The most important feature of a good bankroll management strategy when playing roulette isn’t any of the ones we mentioned above. It’s about the discipline to actually stick to the management technique that you’ve set out.
There are tools that players can use to automate this process. Modern online casinos that can be played on a mobile device, and that allow betting in Bitcoin, can automatically set the bets and increase them based on the input the players set up. However, in the end, it’s up to the player to practice discipline even when they are doing well with their bets.
To Sum Up
Bankroll management is a key part of playing a roulette game. Roulette is based on luck and players can change the outcome of a spin, but they can adapt how they bet and how they respond to a winning or losing spin.
Managing your bankroll allows the players to lower the risks of the game and to play as long as they can. There are techniques to help with this, as well as the tools within the gambling sites themselves, but the key to doing it is discipline.