Discipline plays a significant role when you want to have a successful and profitable roulette gameplay session. Regardless if you’re already trailblazing with your hot winning streaks, gambling experts suggest that one must know when to quit. This also works in the opposite side of the scale.
Economics experts Douglas M. Walker, Stephen W. Litvin, Russell S. Sobel, and Rene A. St. Pierre postulated in their study entitled “Setting Win Limits: An Alternative Approach to Responsible Gambling,” that in responsible gambling there needs to be a self-imposed “win limits” on each individual gaming sessions. They found out in the study that players who establish both loss and win limits lost less in their bankroll.
In a previous article, we revealed some Tips on How to Better Manage Your Roulette Bankroll. Today, we are going to tackle the methods on how to effectively set losing and winning limits when playing online casino roulette.
Before we proceed to the meat of this article, let us first be clear that money management is definitely not the key to winning any game. Remember that roulette is a game that is extremely dependent on luck and there’s no possible way to influence the outcome of each spin. However, establishing win goals and loss limits can somehow help you keep from losing more than what your wallet can afford or plunging into an unmanageable circumstance.
So how do we do this?
Simple. We set a stop loss and profit target.
Stop Loss – is the total amount of money from your bankroll that you are willing to lose in a game
Profit Target – is the total amount of money from your winnings, minus the capital
By establishing these limits, a player will be able to take control of what’s coming in and what’s coming out from his bankroll. He can also easily calculate how much was lost or gained on a particular game day. Furthermore, this can help reduce a player’s drive to get greedy when things are getting pretty.
Let’s look at this example:
Suppose the player has a bankroll of £1,000. He setup the limits as follows:
Stop Loss – £250
Profit Target – £250
This means that the player is willing to lose £250 in a single game of roulette. He is, at the same time, hopeful to gain £250 as profit from that same game. Hence, when luck is hard to come by and he already reached his lose limit, he should leave the table. In the same way, if he is winning and was able to hit the £250 profit target, then it’s time for him to stand up.
Setting win and lose limits is sometimes called the “Hit and Run” strategy.
Using with Betting Systems
Betting systems work perfectly well with bankroll management. By knowing when to properly raise and lower your bets or how to choose a game appropriate to your bankroll ensures that you’d have an enjoyable roulette gaming experience every time.
We have a handful of roulette betting systems that might be worth your time to check and learn. We personally recommend roulette betting methods that are of positive progressions. Basically, a player increases the stakes when he wins and decreases when he loses. Examples of which are One Half Up, Paroli, and 1-3-2-6, just to name a few.
This is directly opposite to negative progression systems like Martingale, D’Alembert, Labouchere or the Fibonacci.
No matter how high or how low your limits can be, keep in mind that when playing online roulette, the odds are not often the same and sometimes it works for you, oftentimes it won’t. In short, it’s all but a gamble and the circumstances are beyond your control. However, there are things that you can somehow manage and that is your bankroll.
For such reasons, a wise gambler has a rule: to play and have fun within your limit. Take charge of your playing finances and don’t get too impulsive as to change your limit in the middle of a battle because it might end up badly for you.
Always play safe and good luck!
