Casino players often bet red or black in roulette – one of the most common bets which often pays out close to 50/50 in odds. Many adhere to a red/black betting strategy or even employ systems which claim to beat the house edge.

Problematic with these bets, though: They’re rarely equal and could end in financial ruin.

First and foremost is that the house’s edge is always present, as casinos design games to generate profits for themselves. A single spin may provide you with a big win; but over time you will end up losing to the house as probabilities work their magic over long time frames; for instance if you bet red five times consecutively then your chances are lower that it will also turn red than if betting black instead.

Betting low or high and losing is still working against you – as there are 18 red numbers on a roulette wheel with 36 outcomes; so your chance of success in future rounds drops significantly if you bet low and lose.

This same principle holds true with the stock market; the odds that it will go up over any given year are approximately 70%; however, you must invest for that to happen and therefore risk 30% of losing money over time. We advise keeping 7-15 years worth of living expenses in cash before placing remaining savings into investments that will grow over time.