Bankroll Management In RouletteBy: Rick Balding, Tuesday June 23rd 2009
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Bankroll management is a term that is often used in connection with online gambling. The importance of bankroll management cannot be denied. However bankroll management is not the "one shoe fits all" kind of process. There are different kinds of online players and each type needs a different kind of bankroll management.
Online players differ in their propensity to risk taking. Some players do not mind losing their bankroll by the end of the session but they want to win big, if at all. Other players want to conserve their bankroll and do not mind small wins or small losses. And there are players in between these two extremes. Fortunately roulette has many different kinds of bets that cater to all three types of players. Another advantage that roulette has is that the house edge is common for all bets and the player need not worry about being suckered.
The risk taking players should look for bets that have a payout of 5 to 1 or more. The bets that fit into this category are the six number bet that pays 5 to 1, the street bet that pays 11 to 1, the split bet that pays 17 to 1 and the single number bet that pays 35 to 1. There is no need to start with the single number bet because the probability of winning is very low. It would be good bankroll management or start with the six number bets. The player should track both his chip balance and the time. If either his chip balance has fallen by 25% or 25% of the allotted time has elapsed without the player achieving his targeted win then he should switch to the higher paying street bet. However if the player is on target he should continue with the six number bets. The player should keep taking stock of his chip balance and time and switch to the higher paying but riskier bets according to the above described principle. This procedure of bankroll management is consistent with the player’s desire to end with a big win even though he may lose the bankroll in the process.
The risk-averse players should settle for the even money bets at least to start with. These offer the greatest likelihood of winning and therefore the most likely to conserve the bankroll. There are three bets that the player can choose from. One is red or black, another is odd or even and the third is the first 18 numbers or the last 18 numbers. If the player has been lucky and has managed to increase his bankroll beyond his expectation then he can earmark part of the winnings for the riskier bets. However should he lose that allocated bankroll in the riskier bets he should immediately switch back to the even money bets.
The players who want to toe the middle path should split their bankroll in two parts. About 25% can be allocated to the riskier bets. The balance should be used on the more conservative bets. In roulette the players can place more than one wager at a time. The player can place a small wager from the allocation of the riskier bets on bets like street, split or single number bets. He can place larger wagers on the even money bets or the column bets that pay 2 to 1. Should he do well in the riskier bets he should keep setting aside funds so that is original bankroll is covered.
The above systems are indicative and meant to illustrate the philosophy of bankroll management for different risk taking propensities. The most important part of bankroll management is that the player should fix both his bankroll and his time before starting to wager. Once either the time or the bankroll is over there should be no replenishment.
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