Many players confuse money management with roulette systems. Both are systems, but money or bankroll management is more to do with having a plan before you hit the table. Most casual player will sit down or log in to an online casino, and throw down their money without having thought about their objectives beforehand. Maybe your plan is just to have no plan and just throw your money around the table in the hope of catching a big win? That´s fine, but it´s always better to have thought of a plan to have no plan beforehand!
Generally, you´re better off having fixed ideas of what you want to achiEve at the table before you start. That may sound "boring", but trust us, it´s more fun leaving the table with more money than when you started.
If you are even just a little bit disciplined, it can go a long way. You don´t need to go into the kind of analysis of indicators that you might do if you were trading the stock market (try doing a Fibonacci regression on the roulette wheel), but you can learn some valuable lessons from professional traders who also have a battle to keep their emotions firmly locked away when trading). Money management is key when you are coming up with a plan of how to win at roulette. You need to maximise your winning streaks and minimise your losing streaks.
Roulette bankroll management is very important.
Let's look at some tips on how to manage your money when you are playing.
Know Your Limits
Set your budget before you play. How much can you afford to lose? What profit would you like to make? Don´t bet your whole budget on one spin, we´d recommend a maximum of 5% of your budget on each individual bet. At least stick to this at the beginning. You are not going to win every bet, you need to have some leeway to lose some bets.
If you do win big, it´s good practice to bank profits. Readjust your stop loss limits (in trading they call this a trailing stop). This way you can get to the situation where you are playing with the casino´s money!
Never Increase Your Stop Loss
It´s OK to decrease your stop loss, that is to say, if you win, it can be a good idea to bank profits and move it up. Bet NEVER increase it. Be strict with yourself on this one. Only mugs chase losses past their stop loss. You are better off leaving the table, and coming back another day.
Keep your Bankroll Ring Fenced.
Never have an easy direct line from your bankroll to your normal every day finances. This seems obvious, but it ties in to our point above. Any money you play with should be thought about and earmarked for this kind of entertainment. If you are a serious player, you ought to have a completely separate account for your roulette play. Like a "trading account". This can be done with a Neteller roulette account or a Skrill account, for example. Most decent casinos these days accept all kinds of web wallets which can be an excellent way of managing your bankroll (you may even get a bonus for using them to deposit, like 10-15% extra.
The main thing is, to avoid funding your casino account from your main bank account.
Play with your Head.
Keep your emotions tucked away.
Don´t drink and play (ever wondered why you get free drinks in Vegas)?
Remember, the longer you are at the table, the more time the casino has of taking your money off you. Take regular breaks and keep sharp!
Research the Bonuses
Make sure you read the small print before taking an online roulette bonus. Can you hit the playthough requirements playing roulette? Are the play-through requirements applied to the bonus only or the deposit plus the bonus? Are there any low risk bets that are excluded? Read through our roulette reviews here to help you make a decision on a bonus.