Online roulette - the mistakes

1st blog post, may aswell talk about the 1st thing on my mind. I randomly came across the world of online roulette about a week ago, I have to admit, it does look extremely promising, and if you're lucky, it is.

I first got caught up with the Martingale System, the system basically involves betting on the 1:1 bets (for example, bet a number will be a red, an odd, in the 1st half of the board etc) and doubling your money if you lost. So for example, you'd bet 1 on black, and red would come up, so you'd bet 2 on black, and red would come up again, so you bet 4 on black and continue doubling your money until it lands on your colour. Sounds great on paper right? If theres a 50:50 chance it's going to land on black, what are the chances of it landing on red 6 times in a row (that would be a $32 bet)? The answer is alot higher than you would think. You need to consider that in an offline casino the casino has a 5% house edge for having a single 0 on the roulette wheel, but on an online casino the casinos add a further 2.7% to this house edge. This leaves almost all the roulette spins extremely biased, and this is something you'll notice immediately.

So, I still went down to business, I started with just $20 and hit a winning streak, within 15 minutes I'd made $150. Needless to say, I got cocky and lost the lost in another 30 seconds.

Second go, I decided to start betting on the opposite colour after another colour came up 3 times. Sounds safe, and I got quite lucky, making $400 in 2 hours. I however foolishly thought that the more money I had the safer I was, and with $400 was practically invincible. So I hit a horrid losing streak, 13 reds came up, and I lost it all. I don't think there was anything I could have done to stop this, except to stop doubling when I had to bet $64 to keep going, after that I honestly do think the house edge increases the more you bet. This was awful disappointing though, and I'd felt I'd had enough, there was no reliable way of making money this way, and you could never know when to stop. You may think this is obvious, but making money can be so ridiculously easy you start to take it for granted.

Finally I wanted to recoup my losses. I deposited $50 and tried a different, purely luck based system. I bet 2 $5 bets on 2 rows, and hope it didn't come up on the row I hadn't covered. Doing this I win $5 each time, but lost $10 if I didn't win. Surprisingly I made $150 and completely recouped my losses.

I've stopped now as I don't think it's reliable, however if anyone's interested I'd thought I'd give you a few tips so you don't make the same mistakes I made.

• Firstly, 13+ reds/backs, highs/lows, odds/evens have come up in a row more than 20 times when I was playing, so yes, although the odds of that happening are 0.002% (without online house edge) it DOES happen.

• Don't bet more that $50 on a single bet. The largest bet I made was $180 and if I won I would've made a profit of just $2.

• If you ever think to yourself "well it HAS to come up next time", just stop. Take a break, come back in 20 minutes, you've made a loss, move on, and don't make it worse.

• For every $20 you make, withdraw $5. I find that this is the best way to guarantee a profit at the end of it. Or you could do something like "withdraw every win after $200", just make sure that if you lost it all you'd still make money.

• The only roulette gambling system available that flips the odds in your favor without increasing your bet is the reverse roulette system. And I wouldn't recommend that unless you have a $1000 starting balance (I paid for the reverse roulette system, I won't link as I don't want to advertise for it, it's a good system, but you need a high starting balance). Don't pay for roulette software, most of it is useless. Always look up torrent sites first, if not there then ebay.

• Only use REPUTABLE casino sites. This is very important, as many of them are illegitimate. I recommend http://888.com . They're one of the oldest online casinos available and deliver the money to paypal within 5 days, no fuss, no need to verify your identity.

Well, that's a short review of online roulette. It's not all bad, you can make alot of money easily, just remember, you CAN lose it all alot quicker than you can make it, but if you follow some of the tips in this blogpost, you should be If you're reading this after trying roulette, I'd love to hear your comments and tips, might give me incentive to give it another try ;)