Understanding Even/Odd Roulette Bets
Roulette offers a type of bet called the even bet, as well as its counterpart, the odd bet. These are types of outside bets that offer a payout of 1-to-1 or even-money. From the player’s perspective, the even and odd bets are among the best bets you can make in roulette. This article will explain why this is so.
The Basics: What Are Even and Odd Bets?
Roulette offers players many different bets to choose from. Each of the bets offered has its own probability of occurring and different payouts are offered for winning the bet. There are high-risk bets and low-risk bets, so every player, from the most conservative to the wildest thrill-seeking gambler, can find a bet that caters to their gambling needs.
Roulette Wheel Structure: Even and Odd Numbers
On both the European and American roulette wheels, there are 36 numbered slots from 1 to 36. In addition, European roulette has a slot for zero, while American roulette has slots for zero and double zero.
The 36 numbers are split equally into 18 even numbers and 18 odd numbers. Zero and double zero do not count as either an even or an odd number. Players can make bets by predicting whether the roulette ball will land on an even or an odd number.
*As seen in the diagram above, the European and American roulette wheels differ slightly in structure, particularly concerning the addition of the double zero in American roulette.
Types of Bets: Inside vs. Outside
The bets that players can make when playing roulette are split into two main groups: inside bets and outside bets. Inside bets are wagers made on a single number or a very small group of adjacent numbers. They carry a low probability of generating a win but offer very high payouts to compensate for the low probability. Outside bets are wagers made on large groups of numbers. They carry a high probability of generating a win but offer lower payouts to compensate for the high probability. The even and odd bets fall under the umbrella of outside bets because, in a single bet, the player covers almost half the numbers available on the roulette wheel.
Type of Bet Risk Level Potential Payout House Edge (European/American) Inside Bets Single Number High 35:1 2.70% / 5.26% Split High 17:1 2.70% / 5.26% Street High 11:1 2.70% / 5.26% Outside Bets Even/Odd Low 1:1 2.70% / 5.26% Red/Black Low 1:1 2.70% / 5.26% High/Low Low 1:1 2.70% / 5.26%
Note: The table above provides a snapshot of how inside bets compare to outside bets in terms of risk and reward, helping you make an informed decision on where to place your chips.
Comparison with Other Outside Bets
It's worth noting that even and odd bets are not the only attractive outside bets in roulette. Other popular outside bets include betting on red/black or high/low numbers. Like even/odd bets, these also offer a near 50% chance of winning in European roulette and similar odds in American roulette. However, these bets come with their own nuances. For instance, red/black bets may appeal to those who prefer to bet on color rather than numerical sequences, while high/low bets can be a strategic choice for those looking to spread their bets across the wheel.
Type of Bet Probability of Winning (European/American) Payout Unique Advantages Even/Odd 48.64% / 47.36% 1:1 Easy to understand, nearly 50% chance of winning Red/Black 48.64% / 47.36% 1:1 Nearly 50% chance of winning; visually easier to follow High/Low 48.64% / 47.36% 1:1 Diversifies bets, nearly 50% chance of winning Dozens 32.43% / 31.58% 2:1 Higher payout; covers a range of 12 numbers Columns 32.43% / 31.58% 2:1 Higher payout; covers a vertical column of 12 numbers
Note: The table highlights that even/odd, red/black, and high/low bets offer nearly 50% chances of winning, whereas dozens and columns bets, although riskier, provide higher potential payouts.
The Probability of Winning and House Edge
Think for a second that the roulette wheel only had 36 numbers, ranging from 1 to 36, and did not have the zero and double zero slots. In such a case, half the numbers on the wheel would be even numbers, and half the numbers would be odd numbers. If you were to make the even or odd bet under these circumstances, the probability of winning would have been 18/36 = 0.5, equating to a probability of 50%. In this idealized scenario, the game would be fair, and there would be no house edge.
However, the roulette wheel is not comprised of only 36 numbers. In European roulette, the addition of the zero changes the calculus. The probability of winning the even or odd bet then becomes 18/37 = 48.64%. This means that the odds of winning the even or odd bet are 1.01-to-1, with a payout of 1-to-1. The discrepancy between the true odds and the payout odds introduces a house edge of approximately 2.7%.
In American roulette, the situation is further skewed against the player. With two additional slots for the numbers zero and double zero, the probability of winning the even or odd bet is 18/38 = 0.4736, placing the odds for a win at 47.36%. Here, the payout for a winning even or odd bet remains 1-to-1, but the true odds are 1.11-to-1. This results in a house edge of approximately 5.26%.
How the House Edge Comes Into Play
It's important to note that the house edge serves as the statistical advantage the casino holds over you in the long run. Even though the payout for the even or odd bet appears to be fair at 1-to-1, the house edge shows that it's less than fair from the player's perspective. Hence, while European roulette gives you a better chance of winning the even or odd bet compared to American roulette, it's important to remember that in both cases, the house has a built-in advantage. Therefore, if you have the choice between the two types of roulette, we recommend opting for European roulette to minimize this advantage.
The “En Prison” Rule
In French roulette and in some European roulette games, you have the option of using the “En Prison” rule. “En Prison” means “in prison” in French, and it's a rule that allows you to imprison your even or odd bet for the next round of play if the outcome of the spin in that round is zero. This rule effectively lowers the house edge for even-money bets, making them even more advantageous.
In Conclusion
The even and odd bets are among the best bets offered in roulette. They do not offer a huge payout, but that is reasonable considering the low level of risk attached to them. Players focusing on making outside bets, such as the even or odd bet, have a better chance of making their bankroll last longer.
However, it's worth noting that while the even and odd bets are low-risk and suitable for extending your gameplay, they aren't for everyone. For some players, the pull of roulette isn't just the chance of winning but the thrill of the risk itself. These players might be attracted to bets that offer a higher payout, like single-number bets, which can offer as much as a 35-to-1 return. The trade-off, of course, is a significantly lower chance of winning. But for those who relish the thrill of the gamble, the lure of a potentially big win can be too compelling to stick solely with even or odd bets.
