This is my solution to this problem. I use medical tape, mainly because it is waterproof. I go all the way around the wheel, and overlap it a couple of inches. I seal the end with clear nail polish, this helps keep it waterproof.
Being my scope has a lot of separation between the distances that I have, and a Connecticut Custom Airguns large Nautilus wheel, helps give me that large separation. I do not put lines on my tape, mainly due to the reason above, it bleeds. I have an adjustable Maestro pointer strip/indicator on the right side of the sidewheel.
I use electrical wire markers, they come in books of 1-45, and 46-90. This should cover most yardage marks that most of us use. I'll get my focus distance, say 10 yds. I'll put the square marker in the center of the indicator. The wire marker sticker is about 3/16" square, perfect size. Then I'll go to 11 yds, and so forth. I'll mark individual yds. up to 25, then, I use 5 yd. Increments on the rest. Once all the marks are set, I'll seal each marker with a dab of clear nail polish.
For those that would like to see my sidewheel, and markers, I have my Benjamin Marauder with my Sightron Slll 10-50x60 on several different episodes of my Field Target Tech Channel on U Tube.
Hope this helps, any questions, don't hesitate to contact me.
Tom Holland