The average roulette player understands that there are many types of bets you can place while playing roulette. But most never bother to understand the various odds that come with placing each of these bets. What is actually more common are misconceptions about chances of winning with these bets.
For instance, there are people who firmly believe that their odds of winning an Even/Odd and Black/Red bet stand at 50%. When playing this game for fun, odds might seem like a distant concern, but if you are truly keen to win more regularly, then it is important to understand different roulette odds.
Chances of Winning at Roulette
As I have already mentioned above, many people don’t understand roulette odds properly. In particular, anyone who thinks they have a 50% chance of winning the Red/Black and Even/Odd bets isn’t taking into consideration the fact that the game has an inbuilt house edge.
This edge, in practice, puts the effective chances of winning these roulette bets at slightly under 50%, depending, of course, on the roulette variant you are playing. Speaking of which, you should always play European roulette in place of its American alternative; the lack of an extra slot makes it more rewarding.
When playing European roulette, the house edge is 2.7%. But with American roulette, the house edge is much higher at 5.26%. That is because American roulette has a double zero in addition to a zero, which is one more pocket that could make things go against you. And because that is practically the only difference between the two games, you should only play European roulette to enjoy better payout percentages.
Winning Probabilities for Different Roulette Bets
Red/Black, Even/Odd, and Low/High Bets
Each type of bet you meet while playing roulette will give you a different chance of winning. As already mentioned, the Red/Black, Even/Odd, and the Low/High bets, which have a payout of one to one (even money), will give you winning odds of 48.65% with European roulette and 47.37% with the American version of the game.
Dozen and Column Bets
When placing dozen bets and column bets, where the payout is two to one, the odds of winning will be 32.43% for European roulette and 31.58% in the case of American roulette. As you already know, each of these bets involves selecting 12 numbers out of 37 in the case of European roulette and 12 out of 38 numbers in the case of American roulette.
A corner bet requires that you pick 4 numbers. The payout is usually 8 times your initial deposit. The odds of winning this bet are 10.81% and 10.53% in the case of European and American roulette respectively.
A street bet requires that you pick 3 numbers, in order to give yourself a chance of winning getting paid 11 times your initial stake. This is a pretty good payout, therefore, the chances of winning are also pretty low. With European roulette, you have an 8.11% chance of success, which drops to 7.89% when you opt to play American roulette.
When you place a split bet, you are supposed to select two numbers. This bet pays pretty well since you can get 17 times your initial stake if you win. However, the odds of winning are also quite low since they stand at 5.41% for European roulette and 5.25% for American roulette.
A straight bet is a bet on a single number on the roulette table. This is the best paying bet because it gives the player 35 times their initial stake if they succeed. But the odds of winning are also pretty low for this bet. With European roulette, you have a 2.7% chance of winning, while with American roulette, your winning odds are just 2.63%.
Those are the different roulette bets, and the odds of winning with them as you play. This information is critical if you are serious about becoming a winning roulette player. For instance, placing straight bets requires a different strategy from placing the even money bets (Red/Black and so forth).
Most people don’t seem to realize this, which is why even today you will find people placing most of their bankroll on a single straight bet despite its low chances of success. So, try to understand these roulette winning odds and you will have a better time playing this game, be it be for money or just for fun.
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