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Managing Your Money While Playing Roulette

 
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It is important to manage your money properly no matter what you are doing with it. Even if you are gambling, you still need a system to manage your money. In fact, it is especially important when gambling because there can be a lot of money at stake. When gambling, knowing how to manage your money properly is even more important than understanding the rules of the games you are playing.

When gambling, you need to manage your money in such a way that you reduce the chances of losing a considerable amount of money. In order to do this, you need to understand the odds of the games that you are playing so that you can place bets that give you a higher chance of winning.

In American roulette, for example, there are 38 numbers on the wheel. Eighteen of those numbers are red, 18 are black and 2 are green. Betting on either the black, red, odd or even gives you the same odds for each of these bets, since there are 18 possible wins for each. If you divide 18 by the total number of slots available on the roulette wheel, you get the percentage of times you are likely to win by placing this bet. It comes out to 47.36%. That means that for every 100 times you place that bet, you are likely to win 47 times.

Now let’s convert this to currency. If you place one of these bets 100 times, with a bet of $10 on each spin, you are likely to end up winning 47 times and losing 53 times. Your profit of $470 from the times you won is offset by the losses of $530 for the times you lost, leaving you with a net loss of $60 for every 100 spins.
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