Comparison of the effectiveness of roulette betting strategies using Monte Carlo simulation

This study presents the performance of seven betting strategies in European roulette via Monte Carlo simulations across 48 scenarios. Performance metrics included mean and median net profit, win and ruin probability, maximum drawdown, VaR and CVaR. Results confirmed that all strategies have negative expected value. Progressive strategies had higher short-term win rates but incurred much heavier loss tails. Fractional Kelly and Fixed-fractional showed moderate profiles with no long-term advantage. The fixed-stake strategy proved to be the safest, effectively limiting the risk of ruin. The study can be used to modify new betting strategies and serve as a warning to casino users.