Best Odds For Roulette
Roulette Odds 00

Roulette is one of oldest casino games and its origins could easily be traced to more than a millennium ago when various simplified versions of it existed as a form of entertainment. Today, gamblers have access to dozens of betting systems, strategies, and even cheating devices that promise long-term success to those who dare use them. Still, there are only two simple concepts they need to grasp in order to improve their play and their chances of winning and that is the odds and the casino advantage that is built-in in every roulette game.

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Roulette House Edge Explained. Clearly, the payout does not correspond to the true odds of roulette bets. This advantage of the casino over its patrons is called house advantage and can be easily demonstrated with the following example – we bet $1 on the number 17 and win. The betting odds in roulette of hitting a single number with a straight-up bet are 37 to 1, since there are 38 numbers (1 to 36, plus 0 and 00). However, the house only pays out 35 to 1 on winning. To calculate the house edge in roulette, we multiply the difference between the true odds against winning and the casino odds by the probability of winning. On a double-zero wheel, the odds against winning with a Straight Up bet are 37 to 1 but the house pays only 35 to 1 which results in a house edge of 5.26%. Roulette is a drain on your wallet simply because the game doesn’t pay what the bets are worth. With 38 numbers (1 to 36, plus 0 and 00), the true odds of hitting a single number on a straight-up bet are 37 to 1, but the house pays only 35 to 1 if you win! Ditto the payouts on the combination bets.

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Knowing the odds is essential in playing roulette or any other game of chance where players’ decisions have no impact on the outcome of the round. Games of skill, in contrast, typically require at least basic knowledge of the rules and give skilled players the opportunity to improve their chances of winning. Unlike classic casino games such as blackjack or poker where individual actions can significantly change the outcome, roulette is a game of pure chance where the outcome is completely random.

Once players recognize this fact, they can truly understand the nature of roulette and learn how to optimize their play to avoid significant losses on the roulette table. Those who want to be successful in the long term need to learn the basic probabilities in this game and determine how likely to win or lose any given bet is. Moreover, all roulette fans should bear in mind that every bet they place is more likely to lose than to win – this is how casinos manage to always make a profit even with the occasional big wins they have to pay out.

So, what is probability and is there a difference between the true odds in roulette and the casino odds offered to players? These are fundamental questions that need to be answered honestly before gamblers sit around the roulette table.

Probability and True Odds

Often, the terms “probability” and “odds” can be confused by even professional casino players. Although they are, indeed, very similar in terms of their usefulness and relevance to evaluating different roulette bets, the two are quite different – at least theoretically.

First of all, players should know that if fair and unbiased, roulette wheels produce random results with every spin. Each of the numbers is equally likely to win or, rather, equally likely to lose. At the same time, for each number from 0 to 36, there are only two possible outcomes – a win or a loss.

Probability

The probability is the likelihood of any given outcome compared to all outcomes that are possible. Expressed as a number, the probability always exists between 0 and 1 – 0 would indicate that something is impossible to occur, while 1 would mean absolute certainty for the outcome. Even chances, for example, would be expressed as a 0.50 probability. In roulette, we have either 37 or 38 numbers in total, so these are all the possible outcomes.

Let us take the single-zero roulette wheel where for each number, there is only 1 way to win and 36 ways to lose. So what is the probability that the ball will fall on 17 in the next spin, for example? We can calculate it by dividing the number of ways to win by all possible ways – 1/37, which is 0.027. For most people, the probability is easier to understand as a percentage, so we simply multiply the decimal by 100 and we get 2.70%.

True Odds in Roulette

Now that we have established what probability is and how it is determined in roulette, we can compare it to the notion of “odds”. Odds are also used to describe the chance of an event occurring but they compare the number of ways it can occur to the number of ways it cannot occur. The odds of any particular number winning in roulette could be simply displayed as 1:36 or 1/36 where 36 is, once again, the number of ways to lose.

Sometimes, when it comes to expressing the odds of a particular bet in roulette, they would be in reverse, indicating the odds against winning. Using the same example, the odds of the number 17 against winning would be 36:1, or 36 to 1. These are known as “true odds” as compared to what some players refer to as “casino odds”. There is a huge difference between the two terms, but it will be explained in detail in the following section.

To make this even clearer, let us see the odds for probably the most commonly placed bet in roulette – red/black. If we place our chips on red, the probability would be 18 out of 37, while the odds would be 19:18 against us because there would be 19 ways to lose against 18 ways to win. In percentages, the probability would be 18/37 = 0.48648648648, 48.65%.

Casino Odds

When determining whether a roulette bet has good or bad odds, experienced players take into account not only their probability of winning and the true odds but also the potential reward they could bring. Each bet pays out differently, depending on its likelihood of winning – the less likely a given outcome is to occur, the more its potential payout would be. There is a sound logic behind this and in a perfect world where casinos would not have to make a profit, the payout of every bet would be equal to the odds against winning.

Let us take a look at the straight bet in European roulette – the odds against the player here are 36 to 1 (36:1) because as we have already shown above, there are 36 ways for this bet to lose and only 1 way to win. In order to offer a reward that would match the risk, the casino would be expected to pay players 36 to 1. In other words, it would be expected to return the original stake and to pay out winnings that are worth 36 times the amount of the bet.

Casino Odds Additional TipsIn reality, this does not happen, however, and the house gives a slightly lower payout of 35:1 on winning straight-up bets. The idea is that on every winning wager, players pay a small fee to the casino and in this case, it is one unit. The difference does not seem significant but it is how casinos gain their advantage over players – by paying every winner just slightly less than they should have. Over time, this tiny difference makes a large profit for the house and provides a guaranteed income in any possible scenario.

These payouts offered by casinos are sometimes referred to as “casino odds” due to their visible similarity. And while both are expressed as ratios of two numbers, they are never equal – the odds against winning are always slightly higher than the casino odds. The closer the casino odds get to the true odds of any given bet, the lower the advantage of the casino.

Roulette House Edge Explained

Clearly, the payout does not correspond to the true odds of roulette bets. This advantage of the casino over its patrons is called house advantage and can be easily demonstrated with the following example – we bet $1 on the number 17 and win. If given the true odds for this bet (36:1), we would receive our initial $1 stake back plus $36 as a payout. Instead, casinos pay us $35 and the original $1 bet but they keep the $1 difference.

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