Roulette Odds: Inside Bets and Outside Bets
Preface: Roulette is all about placing bets on numbers, or combinations of numbers. Regardless of the roulette variant you play, there are certain bets with better roulette odds than others. Broadly speaking, roulette is divided up into 3 distinct variants, notably European Roulette, American Roulette, and French Roulette. In this Casinofy.com roulette guide we will explore the payout potential, including the odds of different types of bets.
What are odds?
Odds are essentially probabilities of a result coming through. On a simple coin toss, the odds are 50-50 that heads or tails will arise. In roulette, the house edge ensures that the house always wins, and that’s why players will notice a clear distinction between true odds and actual payouts. Without further ado, we will begin our detailed analysis of odds.
‘Roulette odds are probabilities associated with specific types of roulette bets coming good.’
Assuming that you are playing European Roulette, or French Roulette, and you place a bet on a single number, the odds of any number on a roulette betting deck appearing on the next spin are 1/37, or 2.70%. Those are the true odds because there are 37 numbers on a roulette wheel, including 0, 1-36. However, the house doesn’t pay you 37:1 if you win; the house pays 35:1. That means instead of getting $37 for every $1 that you bet on a number, you will get paid $35. The differential is how the house makes its money.
European Roulette and French Roulette Odds
Let us now examine European & French Roulette odds on the one hand, and then take a look at American Roulette in the next section. Recall that European Roulette and French Roulette feature a single green 0 on the roulette wheel – there is no 00 as with American Roulette. This means that there are fewer betting options available to players, but the house edge is significantly lower for European Roulette and French Roulette players.
- Even/odd bets – odds of 48.6% with a payout of 1:1
- Red/black bets – odds of 48.6% with a payout of 1:1
- 1-18/19-36 bets – odds of 48.6% with a payout of 1:1
- 1-12, 13-24, 25-36 bets – odds of 32.4% with a payout of 2:1
- Single number bets – odds of 2.70% with a payout of 35:1
- 2 numbers combinations – odds of 5.4%, with a payout of 17:1
- 3 numbers combinations – odds of 8.1 %, with a payout of 11:1
- 4 numbers combinations– odds of 10.8%, with a payout of 8:1
- 6 numbers c ombinations of – odds of 16.2%, with a payout of 5:1
If you read the roulette odds and the payout ratios, you will notice a disparity between them. The payout is always less favorable than the actual roulette odds of that result occurring. Even money bets should have a payout of 1÷0.486 = 2.06 instead, but you get even money. Dozens bets have a payout of 2:1, but you should be getting 1÷0.324 = 3.09. This is how roulette odds are calculated by casinos, for players.
American Roulette Odds
American Roulette games are unique in the sense that they feature an additional 00. This extra betting option adds lots more excitement to the game, but it also increases the house edge dramatically. In American Roulette, the house edge is 5.26%. There are 38 numbers around the wheel, including 0, 00, 1-36. Statistically speaking, each number should have a payback of 38:1, but the payout is 35:1, thereby accounting for a substantial house edge.
- Even/odd bets – odds of 46.37% with a payout of 1:1
- Red/black bets – odds of 46.37% with a payout of 1:1
- 1-18/19-36 bets – odds of 46.37% with a payout of 1:1
- 1-12, 13-24, 25-36 bets – odds of 31.58% with a payout of 2:1
- Single number bets – odds of 2.63% with a payout of 35:1
- 2 numbers combinations – odds of 5.26%, with a payout of 17:1
- 3 numbers combinations – odds of 7.89%, with a payout of 11:1
- 4 numbers combinations – odds of 10.53%, with a payout of 8:1
- 6 numbers combinations – odds of 15.79%, with a payout of 5:1
- Bets on 0,00,1,2,3 – odds of 13.16%, with a payout of 6:1
Roulette odds are easily explained if you think of the number of ways to win versus the number of ways you have to lose a bet. If you bet on a single number in European Roulette, there are 1/37 odds of winning the bet and 36/37 ways you can lose the bet. The house edge is calculated by determining the true payout that you should be getting with the roulette odds (37:1 versus the actual payout you receiving: 35:1. To better understand this, there are 36 ways that you can lose, so the odds of 36:1. You receive 35:1 meaning you are short a single unit 1/37 = 2.70%.
In American Roulette odds, a single number bet has 1/38 chance of winning, and 37 ways for you to lose the bet. Therefore, the odds are 37:1 of your losing the bet. To calculate the roulette house edge, simply determine 2/38 = 5.2631578 %. You should win 1:38, and you should lose 37:38. For the most part, this simple mathematics holds true. It is important to point out that you won’t win once every 37 spins or 38 spins in roulette – that’s simply a statistical determination over the long term. You could win 3+ successive roulette spins, or not win at all for dozens of spins. All the stats that you will be presented with throughout our roulette guides are showcased over the long term.
This in-depth discussion of roulette odds will serve you well during your gaming sessions. Understand why certain bets pay more than others by simply determining the frequency of those results occurring versus the frequency of those results not occurring. If you’re looking for an even-money bet with relatively even-money payouts, consider the outside bets of red or black, 1-18, or 19-36. Every other bet has a lower probability of occurring, but with a much higher payback than even money, 1:1.