Gambling at the roulette table is very popular because it is highly entertaining and gives people the chance to win big money.
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Roulette has a house edge and how that edge is established is simple to understand. The casino doesn’t pay back the true odds and whatever bet you are making.
If you place a single number straight up on the layout the odds of winning are 37 to 1 in a double-0 game in 36 to 1 in a single 0 game the casino pays back 35 to 1 in both games. So in the double zero game the house edge is 5.26 percent and in the single zero game the house edge is 2.7 percent.
In monetary terms you lose 5 dollars and 26 cents per $100 wagered in the double zero game. In 2 dollars and 70 cents per $100 wagered in the 0 game.
But not all bets in roulette are straight up what if you bet one of the outside even money bets such as red, black, odd, even, high, low, will you get a better game there? No and yes.
Let’s see “no” first. If you bet, say, red the casino will win 20 times and you will win 18 times in a double-0 game while the casino will win 19 times and you will win 18 times in a single 0 game. The house edge is 5.26 percent in the double 0 game and 2.7 percent in the single 0 game no difference.
However in some casinos they allow a rule called surrender which cuts your losses in half should a zero show. That means the house edge on the outside bets is reduced in half. Then they become the best bets to make at the game because the lower the house edge the better for the player.
These roulette edges are rather high when you compare them to the edges of a basic strategy player at traditional blackjack and on the best bets of craps around 1/2 percent.
Obviously you are always better off playing a single zero roulette wheel but not every casino offers such a pleasure.