Roulette Odds And Payouts Explained NZ
Having a solid grip on roulette odds is essential to winning big time! Understanding the different betting options and the probability of whether the ball will land on your chosen number will dramatically aid in your decision making in the game of roulette. Our team at Casino Martini has put together a comprehensive guide to fast track your learning and start your winning adventure today!
All you have to do is select one of the many top-rated roulette sites below and read through this guide. With that said, strap in as we go into detail on all the vital roulette topics for all players new to this casino game. Check our top list of Roulette casino gambling sites below.
Online roulette has been one of the most popular online table games for years now. Millions of gamblers try their luck each day within the online casino world due to its easy nature. New players often make the mistake of entering into a game and betting on red or black without knowing the countless variations of bet types, odds, and payouts.
Our team at Casino Martini has put together this comprehensive guide to ensure you enter your next roulette casino game with expert knowledge. Understanding the different bets and the probability the ball land on your number will aid your decision process and even grant you access to some exciting roulette strategies. Strap in as we go into detail on vital roulette topics for all players new to this casino game.
The Basics of Roulette Odds & Probability
Before parting with your hard-earned cash and placing a huge single number bet, take a minute to quickly understand the chances of hitting the winning number. The odds of winning are drastically different from bet to bet, some being safer than others. At the most basic level, it is common knowledge that there is a higher likelihood you will win a bet on red or black than on a single number.
This can be calculated with ease, allowing players to make bets with a higher probability of winning before taking the risk and bet on individual numbers.
To calculate the roulette odds for any given bet, we must first determine how many pockets are on a roulette wheel. European roulette is numbered 1-36 with a single zero amounting to 37 total numbers compared to American roulette with a double zero and a total of 38 numbers.
Let’s say we are playing a game of European roulette, and our first bet is on red. The chances of winnings can be calculated by multiplying the number of possible winnings numbers by 100 and dividing it by the number of pockets on a roulette wheel. In this case, we calculate (18 red pockets x 100)/37 total numbers = 48.6% chance of winning.
Next, we make a straight-up bet on number 5. We follow the simple equation to calculate the roulette odds (1 pocket x 100)/37 = 2.7%. This can be completed for all types of bets on a roulette table and ensure you make sensible bets within your bankroll limits.
European Roulette vs. American Roulette
As mentioned, the difference between European and American roulette is down to a number of green spaces on a roulette wheel containing zeros. But how does this affect the roulette odds and your chances of winning? American roulette odds are slightly less due to the addition of the double zero on the wheel. This gives the casino the house edge, ensuring that the probability of you winning is less than 50:50 for an even money bet.
Online Roulette Bet Types Explained
Now you are up to speed on the probability of winnings on a roulette bet, it time to analyse the various real money bet types and their payout odds. Players can make bets both inside and outside the roulette table, each having a different payout rate. Remember to always gamble responsibly. Check out the bet types and payout rates below.
Inside Bets & Payouts
Inside bets offer a high payout rate if you are lucky enough, and the ball lands within your bet. Although the payout is high, the chances of winning are significantly less than as of outside roulette bets.
Straight up – This type of bet offers the high payout of 35:1, in which a player bets in an individual number.
Split – Split roulette bets are when a bet is split over two adjacent numbers providing a payout of 17:1.
Street – This is where a player bets any 3 horizontal numbers with a payout of 11:1.
Double Street – A Double street bet is double a street bet amounting to 6 numbers with a payout of 5:1.
Corner Bet – Any four numbers creating a square offering a payout of 5:1 if the ball land on any of the numbers.
Basket – A five number bet – 0, 00, 1, 2,3 providing a 6:1 payout.
Outside Bets & Payouts
Outside bets in a roulette game offer players a higher chance of winning but with a lower payout amount. The house advantage ensures outside bets are less than a 50:50 chance of winning even tho the roulette payouts provide even money bets.
Odd or Even – Betting on odd or even provides a payout of 1:1.
Line Bet – A line bet is when a player bets on two lines of 3 numbers side by side, offering a 5:1 payout.
Column – There are 3 columns on a roulette table with 12 numbers in each. Betting on a column pays out at 2:1.
Dozen – The roulette table is divided into 3 dozens, betting on a single dozen pays out at 2:1.
High or Low – Betting on higher number 19-36 or low numbers offers a payout of 1:1.
Red or Black – This is the last of our even money bets on the roulette table.
House Edge
Before adopting a roulette strategy and attempting to beat the game, know the online casino will always have the advantage. This house edge ensures online casinos win more than players over the long run.
Every roulette player must be aware of the green zero spaces on the roulette wheel. American roulette has a house edge of 5.26%, while the European roulette has a house advantage of 2.7%. European roulette odds are often more favourable for new players testing out various roulette strategies such as the popular Martingale system as the house edge is slightly less.
Don’t forget to take into account the green spaces while determining the probability of your bets. Whether you wager on an American or European wheel, the house will always have the upper hand so if you aren’t fully up to speed on roulette odds, you are at an even bigger disadvantage.
Frequently Asked Questions
What is a single number bet?
Single number bets are placed on individual numbers on a roulette table. If the ball lands on the number that a player has placed a bet on, the casino bet pays out at a rate of 35:1.
What is a split bet?
Split bets are real money bets placed on two numbers side by side. The bet is split between the two numbers and rewards a bet winning payout of 17:1.
Which roulette games have the lowest house edge?
European roulette has a single zero (0) on its roulette wheel. This gives the casino the edge of 1 out of 37 numbers or 2.7%.
Where can I find the best roulette sites?
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