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Roulette is a game synonymous with excitement and exhilaration, not to mention the fact that it is the game renowned for many players' legendary winning streaks. Over the decades there have been a number of huge winners, most notably Joseph Jagger who won 65,000 in the mid 70's, Gonzalo Garcia-Pelayo who won over $1.5 million using the infamous advantage play wheel bias method and most recently Ashley Revell who sold everything he owned and bet the cash value on red at the Plaza hotel in Las Vegas and walked away with $270k which was double his money after just a single bet.
You too may enjoy a game of roulette and can even end up winning pretty huge sums but it is important to realize that even if you feel like you're on a winning streak, it simply can't last forever. Here we take a look at why you should never let your guard down and become blas about your roulette profits.
The long term house advantage will lower your overall winnings
If you play European Roulette which carries a 2.70% house edge and stick with even money bets like black or red, Odd or even or high and low, you have a 48.64% chance of winning on a single spin of the roulette wheel. If your objective is to win two consecutive bets, the odds of doing so are a mere 23.67% and if you're going for a trifecta the odds are even lower at 11.5%.
That said though, many players do manage to beat the odds and enjoy a winning streak. For some this may end in a small $100 or less profit but for higher stakes players, this kind of luck can pay off in a big way.
So if you make a single even money bet, you'll always keep the 48.64% chance of winning but the more bets you make the lesser those odds become with only a 35% likelihood that you will win over 100 even-money bets. This means that the house advantage continually eats into any profits that an average player makes over time.
Bankroll management trumps strategy
It's not uncommon to encounter players and so called casino experts touting their foolproof roulette systems, tips and strategies that guarantee consistent wins, in fact many of these so called systems are for sale online in the hope that unsuspecting roulette players will snap them up in the hope of getting rich quickly.
The reality however is that the only legitimate way to make money playing roulette is by using the advantage play wheel bias method, which is only possible in land based casinos and the problem is that this method is exceptionally time consuming as it requires that you to observe thousands of spins or hire someone to do it for you. In the end you may not even find a roulette wheel with a bias!
So in general day to day roulette, the best strategy is to play even-money bets and hope for a little bit of lucky. Sure, it isn't a strategic way of playing like some players swear by but it won't cost you anything except your wager and is the best bet for average players looking to have a little fun.
If you do happen to enjoy a winning streak, manage your casino bankroll wisely instead of placing increasingly riskier bets until the house edge chisels away at your bankroll. Instead cashout some money and make the same bets as you did at the outset. This way you'll actually go home with some money before the casinos win it back.