Money Management is one of the most important aspects of making money with Roulette. It is the ability to budget my betting activities and follow my betting plan to minimize my losses and maximize my winnings. Whether it is the Las Vegas or the Atlantic City wheel, roulette is a game of chance. There is no real skill to be learned in mastering the game. However, it is a game of strategy. And a player’s strategy is based on the type of betting the player does. There are various betting strategies possible.
- Straight Betting Strategy
This is the most simple of all roulette betting strategies. The player puts a single chip on one number. If the number hits, the player gets paid even money. This is how the game is played in the United States.
- Come Betting Strategy
The player puts one chip on two numbers. When either number hits, the player is paid 2 to 1 on the bet. This is how the game is played in Las Vegas.
- Edge Betting Strategy
This betting strategy can be used in any roulette game. The player puts one chip on one of the 38 numbers. If the number wins, the player is paid even money. This is how the game is played in the United States.
- Red or Black Betting Strategy
Players bet on only one number. When the player wins, he receives even money. This is how the game is played in most of the casinos.
- Even or Odd Betting Strategy
Players bet on even or odd numbers. When the ball lands on any of the numbers, the player is paid odd money. This is how the game is played in most of the casinos.
- Low or High Number Betting Strategy
A player can bet on the numbers in the range of 1 to 18. When the ball lands on any number in the range, the player will be paid a half. This is how the game is played in most of the casinos.
- Split Betting Strategy
Players can bet on two numbers that are next to each other. When either number hits, the player will be paid even money. This is how the game is played in Las Vegas.
- Vacant Betting Strategy
Should a player bet on 17 or lower, the table has an option to “away” bet when the ball lands on a number that is not on the betting board. The player is betting the next number up. This strategy is helpful when a player has a period in which no numbers are on the board.
- House Betting Strategy
This strategy, also called the “7Meter” betting strategy, is a simple strategy that involves the backing of one’s bet and laying off another bet when winning. The first lay off is the one that is on the bottom. The next bet is the one on top. Keeping on with this method, if a player lays a bet on black, he will have an option to take it if the ball lands on red instead of the black number.
- Insurance Betting Strategy
Here the player takes the place of the blackjack dealer, doubling his bet if the dealer shows an ace card. Players can choose to take insurance even if the dealer has a blackjack. Should the dealer have an ace card, however, the player will lose the insurance bet.