Rule of 72

[Scarface]

There is alot of disagreement here on bet selection (system vs advantage).  However, the most important aspect of roulette is proper money management.  Without it, everyone would go bust. 

I dabbled is short term stock trading for awhile, and did quite well.  But it was time consuming and frankly I just got bored with it. 

I look at roulette alot like I did when it come to investing....especially when it comes to money management.  It would be nice to pick a stock and double your money in a short period of time, much like it would be awesome to double your money in the casino.  But this is a risky move.

The Rule of 72 is a quick way to determine how much of a return you need to double your money.  Let's say you have an investment that is earning you 10% return a year.  Basically, all you do is divide 72 by your rate or return (72/10=7.2).  So, 7 years to double your money with a 10% return.  When I was trading, my goal was 10% a month.

In my opinion, the right money management is what makes someone a professional when it comes to gambling.  A session to one person may be several hours, or 10 spins for another.  This all depends on the system you play.  Why not play it safe, and aim for a 10% return.  In 7 sessions, you could double a $2500 bankroll into $5000.  In 14 more sessions, that $2500 will have become $20000. 
Small gains compounded will add up quickly.  Play safe my friends.

[RouletteGhost]

There is alot of disagreement here on bet selection (system vs advantage).  However, the most important aspect of roulette is proper money management.  Without it, everyone would go bust. 

I dabbled is short term stock trading for awhile, and did quite well.  But it was time consuming and frankly I just got bored with it. 

I look at roulette alot like I did when it come to investing....especially when it comes to money management.  It would be nice to pick a stock and double your money in a short period of time, much like it would be awesome to double your money in the casino.  But this is a risky move.

The Rule of 72 is a quick way to determine how much of a return you need to double your money.  Let's say you have an investment that is earning you 10% return a year.  Basically, all you do is divide 72 by your rate or return (72/10=7.2).  So, 7 years to double your money with a 10% return.  When I was trading, my goal was 10% a month.

In my opinion, the right money management is what makes someone a professional when it comes to gambling.  A session to one person may be several hours, or 10 spins for another.  This all depends on the system you play.  Why not play it safe, and aim for a 10% return.  In 7 sessions, you could double a $2500 bankroll into $5000.  In 14 more sessions, that $2500 will have become $20000. 
Small gains compounded will add up quickly.  Play safe my friends.

good post

everything is relative to the individual

most of what is said here is opinion based because thats not how that particular person would play

[Scarface]

I agree.  I am a system player myself, and I do believe a good system cam win.  My losses are normally due to my own greed.  A few drinks, and I get too risky in my bets lol.  I need to take my own advice.  Playing it safe is a little slower, and could be a little less fun...but that's the way to go.

[RouletteGhost]

this thread is top 10.

all about money management

with that anything can work

[The General]

In my opinion, the right money management is what makes someone a professional when it comes to gambling. 

Not even close.  Money management is the simplest part for a professional player.  What enables someone to become a professional is the bet selection.  Being able to make a prediction that is correct more frequently than what basic probability predicts and that enables the player to overcome the house edge. 

A professional gambler's goal is to play as long as possible when the playing conditions are at there best.  We don't try to "hit and run".  We try to make as much as we possible can, while preserving the betting opportunities.

Over time the gambler will still lose, because money management can not turn a losing system into a winning one if the bet selection doesn't already provide the player with an edge.

[MrJ]

  What enables someone to become a professional is the bet selection.   
 

100% accurate General sir. I completely agree. 

Ken

[Scarface]

Not even close.  Money management is the simplest part for a professional player.  What enables someone to become a professional is the bet selection.  Being able to make a prediction that is correct more frequently than what basic probability predicts and that enables the player to overcome the house edge. 

A professional gambler's goal is to play as long as possible when the playing conditions are at there best.  We don't try to "hit and run".  We try to make as much as we possible can, while preserving the betting opportunities.

Over time the gambler will still lose, because money management can not turn a losing system into a winning one if the bet selection doesn't already provide the player with an edge.

Proper money management is not so simple to everyone.  I agree that bet selection is equally as important.  Let's say you are confident that your bet selection gives you a 5% edge, and you are betting 4 or 5 numbers.  In my opinion, individual bets should be no more than 1 or 2% of total bankroll.  Even with an edge, it can take awhile for profits to materialize.  I've played a double 0 wheel for nearly 10 hours straight playing minimum bets ($5), and walked away $1200 ahead. 

Without the right money management, you can still go broke before those profits kick in, even with an edge.

[The General]

Without the right money management, you can still go broke before those profits kick in, even with an edge.

True, if you only have a small edge.  The percentage of your bankroll that you bet is of course tied to the size of edge that you have.  (Edge/Expectancy) x (Confidence level of playing conditions) = Percentage of Bankroll bet at each spin.  When in doubt, bet between 1/2 and 1% at each spin.   Still the money management part if by far the easiest part of being a professional gambler.

Tooooooo many gambler's have wasted far toooooo much time searching for just the right progression to make their systems work, when all along they should have been focusing on how to first get the edge!

[Turner]

Caleb....assuming you have them ....you are out with friends in a casino. You have no data on any wheels.
Its a social night
How would you bet....just to to be polite.

[RouletteGhost]

Caleb....assuming you have them ....you are out with friends in a casino. You have no data on any wheels.
Its a social night
How would you bet....just to to be polite.

Friends?

Turner with the wild assumptions

[The General]

As a group, in order to include everyone in the fun, we'd all pool our money and play the reverse labby on the red and shoot for the chandeliers.

[RouletteGhost]

As a group, in order to include everyone in the fun, we'd all pool our money and play the reverse labby on the red and shoot for the chandeliers.

Not the 0 though. They windex it. Stay off that sucker. 00, forget that one to, I have seen them take a toothbrush to it.