Roulette Betting Odds
: Roulette Betting Odds
It is no secret that the game of roulette offers many betting options for players looking to score big. However, ignorance is bliss when it comes to the betting strategies and odds that are involved. In other words, though roulette is known to provide high payouts to its winners, it is important to understand the mathematical odds that are associated with each type of betting technique.
To better understand the whole idea of odds calculations, it is crucial that one realize that there are two different types of roulette games. In American roulette, there is a wheel numbered one to thirty-six, with two zero pockets. In French roulette, there are still thirty-six numbered pockets, but there is only one zero pocket as opposed to two. The absence of this additional zero pocket can actually make a notable difference when calculating odds.
Probably the most important figure to pay attention to in roulette is the house edge. While different bets have different odds and various payout structures, the house edge is a figure that always remains constant. With regards to roulette, the house edge is the advantage that the house has on any wager placed. In other words, it is the percent that favors the house on any type of bet. Inside bets, outside bets, and call bets all have the same house edge. It should be noted that the house edge varies for both American roulette and French roulette.
Consider that an American roulette wheel has thirty-eight pockets, with two zero pockets. Betting on numbers one through eighteen is placing a wager on eighteen of the thirty-eight total pockets. The probability of landing one of these numbers is simply eighteen divided by thirty-eight, which equates to 47.37%. This figure represents the approximate number of times a gamer will win when betting on numbers one through eighteen. Now imagine that over 380 wagers, the number of times a gamer will land a number between one and eighteen is 180 (.4737*380), while the number of times a gamer will not land a number between one and eighteen is 200. If a dollar is wagered on each bet, the gamer will have lost twenty dollars (180 wins - 200 losses = -20). When taking the loss that is incurred (twenty dollars) and dividing it by the total number of dollars wagered ($380), the percentage yielded is 5.26%, which is the house edge for American roulette.
When calculating the odds for French roulette, the same approach is taken. However, when dividing the probability of landing a particular number, the denominator of the equation becomes thirty-seven instead of thirty-eight. This tweak in the calculation is due to the one zero pocket on the French gaming wheel. After taking this pocket into consideration, the house edge for French roulette is calculated to be 2.7%, which is a little more than half of the 5.26% American roulette house edge.
In terms of calculating actual probabilities, the math is quite simple. To find the probability of landing any type of bet, one must simply take the number of pockets in that bet and divide that figure by the total number of pockets on the wheel. For example, placing a dozen bet on numbers one through twelve means that a gamer will have a 12/38, or 31.58% chance of winning. Remember that if it were a French roulette table, the odds would be more favorable with the absence of that second zero pocket. Without that additional zero, the probability increases to 32.43%.
Obviously, it is important to know the odds of winning in roulette. However, understanding the payout structures is crucial as well. Payouts can be found on several online gambling web sites, and the structure is common for all roulette tables. To provide a basic example, the payout for betting straight-up, or on a single number, is 35:1, or 35 to 1. What these numbers mean is that for every dollar wagered, thirty-five dollars can be won. For a bet on black, the payout is 1:1, meaning that every dollar wagered provides the opportunity to win an additional dollar.
In short, the mathematics involved in calculating roulette odds are quite elementary, to say the least. At the same time, it is crucial that one be aware of the house edge that comes into play with the presence of the zero pockets. These zero pockets ever so slightly put the odds in favor of the house. However. as the number of wagers increases over the long run, the amount that the house can win due to the house edge grows tremendously.
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