The game of roulette is straightforward and as long as you have a coherent strategy and game discipline, you should enjoy it and always revolve around breakeven value. In order to win big, you need to take higher chances and unless you have a bankroll capable of withstanding the inherent blows, you risk going bankrupt. That’s why it is essential to understand concepts such as expected value, volatility and variance and use them when crafting a functional strategy.
Those who are particularly good at math, can dwell on more complex strategies and will understand the aforementioned concepts better. Beginners and regular players don’t need to concern themselves too much with a mathematical approach, because a basic understanding is sufficient. Expected value is commonly referred to as EV and it stands for the amount that you can win or lose when you wager. The advantage with roulette is that all the bets that have the same stake will always have identical expected value.
Calculating EV is very easy but not particularly useful as you have very little control over what happens as you played by strict rules. On the other hand volatility and variance are important concepts that bear several similarities, referring to how often players are going to win. For example, those who regularly bet on color, even and odd numbers or columns, are more likely to win than those who wager on a single number. The return on investment is also different, so on the long run it all evens out and the house is supposed to win due to the proverbial house edge.
Understanding volatility doesn’t increase your chances to win, but it can help you when creating a strategy in accord with your bankroll. The idea is to take lower chance if you don’t have enough resources to wager, because players can stay unlucky far longer than they stay solvent. Low volatility games in general are preferred by beginners, while those with high variance are more suitable to highrollers and professionals. The good thing about roulette is that it is suitable for both categories, as it all depends on how far players are willing to go when taking chances.