Understanding Roulette Odds at Online Casinos
Roulette is one of the most popular games at online casinos. This is mostly because players need not have any special knowledge or skills to comprehend how the game is played. It should be noted in relation to other games of chance (slots) at a casino, roulette offers a smaller edge to the house, whereas in relation to games of skill, such as poker, the roulette house edge is a bit higher.
Variations of Roulette
You will find many variations of roulette including the European, American and French versions. The most commonly played variant is European roulette, which includes digits from 1 to 36 along with an additional single zero.
The difference between the American and European roulette is that the former includes a double zero and has a total of 38 numbers. As such, American roulette favours the house, the addition of the double zero means there is less chance of players winning at this version of the game.
How to Play Roulette
In order to play roulette, players are required to place a bet on a number of their choice, and if the ball lands after on this chosen number after spinning the wheel, they win. The primary objective of roulette is to predict which space on the wheel the ball will land on after the spin.
There are several options to place a bet and players can bet on even or odd numbers, red or black, a single number, group of numbers, dozens, columns, or rows. The odds become greater or lesser in accordance to the bet you have made. If you are looking to understand the basis of roulette, you should know how the odds work. Roulette odds predict that the more are your chances to win, the lower will be the payout.
Roulette Odds: What are they?
If you like playing roulette and want to earn quick money you should know about the odds involved and the house edge. Here’s everything you should know about roulette odds:
Roulette odds basically indicate to the possibility of each type of win at the roulette table. A typical roulette wheel is numbered from 1 to 36, which implies that the possibility to win is on average once in every 36 times. The typical odds for a simple bet on a single digit in roulette are 38 to 1 in the American version and 37 to 1 in the European roulette.
Nevertheless, you can make various combinations of bets, each with their distinct possibility of winning and payouts. Roulette odds also comprise bets such as odd or even and red or black. These offer 50% winning possibility; however, the extra zero adds an additional chance element for players making this type of bet. In this case, the player only has 18 in 37 probability of being winning the bet with a house edge of 2.7%.
It is worth noting that for every different combination of betting, the odds against winning changes for players. Roulette odds are designed in a way that a player will lose a fraction of their money over the long term. However, in the short-term, roulette odds provide players with a relatively decent chance to win.
The Roulette Odds and Payouts for Outside Bets
If you are new to roulette, you should maybe think about placing outside bets to begin with as these are considered safe and offer much better odds of winning.
- Even Money Bets: The most commonly used outside bet is ‘even money’ bets because they include a large group of numbers, excluding zero in the European roulette and double zeroes in the American one. To be exact, even money bets have a 48.65% possibility of winning in the European version, and 47.37% in the American version. Because these bets offer the high possibility of winning, the payout for them is 1:1.
- Column and Dozen Bets: These outside bets cover 12 digits on the roulette table, including the zero and double zeroes. They offer one-third of possible winning results because they also cover zeroes. This approximately works out to be around a 32.43% chance of winning in European Roulette and 31.58% in the American version. You are allowed to bet on numbers from 1 to 12, 13 to 24, or 25 to 36 on their respective columns. The good thing is that these bets offer you higher payouts than the even money bets. The payout for Column and Dozen bets is 2:1.
The Roulette Odds and Payouts for Inside Bets
Players can place a bet inside bets that include betting on a single digit or a group of small numbers. The inside bets offer considerably lesser winning chances than outside bets, but their payouts are quite lucrative.
- Single Bet: Also known as a straight bet, you place the bet on one number. Because this bet has a rare winning possibility, it offers a higher payout of 35:1. The probability of the ball landing on the certain numbered pocket is 2.70% in European and 2.63% in American roulette.
- Corner Bet: It means betting on four numbers that create a square on the roulette table. For example, 1, 2, 4, and 5. The possibility of winning is 10.81% on European Roulette, and 10.53% on its American version.
- Basket Bet: It is only offered in the American roulette and allows the player to bet on five digits including 0, 00, 1, 2, and 3. This bet offers 13.16% of winning possibility and has a payoutof6:1.
Roulette Odds: Beats the Odds and Win
When you intend to play roulette for real money, make sure that you consider the odds. Take odds into consideration when you are planning your strategy, use this information wisely and with luck, you will win big! Do also keep in mind that whatever strategy you use, the house edge will remain against you.
Know when to take a break, and don’t forget to have fun!