Roulette Odds, Probabilities, and Payouts

Many roulette players are casual players that gamble blindly without having a proper idea of their chances of winning. But other clever players study the probability of winning roulette when they play and make sure they get sufficient benefits from the game. How is it done? What are the odds on roulette to win the game? Let us have a look at all such aspects of the game.

The betting schemes

Roulette Odds, Probabilities, and Payouts - The betting schemes

Roulette, like many other games, has an elaborate set of rules and bets can be placed in   ways. The way you bet decides your roulette odds, payout, RTP, etc. And then there are the two major variations of roulette, namely the American and European Roulettes, which make considerable differences in your roulette probabilities of winning. First, let us briefly look at the various ways one can bet.

Inside bets

It is either betting on a single number or a small set of numbers as follows:

  • Straight: You bet on one number from 0 to 36. This bet has the lowest roulette odds, but the highest roulette payouts.
  • Split: You bet on two adjacent numbers horizontally or vertically on the roulette number board so that you win if either of the numbers wins. 
  • Street: You bet on three adjacent numbers in a horizontal row so that you win if either of the numbers becomes a winner.
  • Corner: You bet on four numbers that together form a square so that you win if either of the numbers turns up in the result.
  • Double Street: You bet on six adjacent numbers forming two horizontal rows so that you win if either of the numbers wins. 

Outside bets

This method means betting on a wider set of numbers compared to the inside bets. Hence they display the best odds of winning roulette on the roulette probability chart compared to the inside bets. However, the payouts are smaller.

  • Low/ High: You bet either on the lower half of numbers (1-18) or the higher half (19-36). You win if the number from your selected group turns up.
  • Red/ Black: Betting on red means you win if the result is any number in red; you can do similarly with black. In roulette, half of the numbers are in red, and the other half – in black. So, there is a 50-50 winning chance as in Low/High.
  • Even/ Odd: When you bet on Even, you win if the result is an even number. Similarly, with an Odds bet, you win if the round’s result is an odd number.
  • Dozen: The 36 numbers of the roulette are divided into three dozens. You may bet on any of the first, second, or third dozens. You win if the number turning up belongs to your chosen dozen.
  • Column: The 36 numbers are laid out on the betting board in three equal columns. You may bet on either the first, second, or third column. The winning odds of roulette table are lower in this as well as in Dozens bet compared to Low/ High, Red/ Black, etc.

These are the popular betting schemes. The best roulette table odds are provided by the bets that split the numbers into two, namely Low/High, Red/Black, and Even/Odd. Apart from the betting schemes listed above, there are also some other special bets followed in different parts of the world.

Odds in Roulette betting

Now, let us look into the roulette odds and payouts for each betting type. The below chart shows the payout for each betting type as well as the winning odds in both European and American Roulette versions.

Roulette Odds, Probabilities, and Payouts - Odds in Roulette betting

The chart shows very clearly that the higher the odds on roulette, the lower the payout, and vice versa. For instance, the best odds in roulette are seen to be for the Low/ High, Red/ Black, and Even/Odd bets (almost 50%). However, the payout is the least, a mere 1:1. Conversely, the Straight bet has a payout of 35:1. However, the winning chance there is only 2.7% in the European version.

As you can see, the odds of winning in roulette come in the inverse proportion to the payout rates. Also, the American version of roulette has slightly lower winning odds compared to the European version. However, the payout rates are usually the same for both versions for each kind of bet. Having clear awareness of factors such as the Roulette betting odds, payout, house edge, etc. helps one to be calculative enough while playing to spend money judiciously. It will help a lot in building strategies that give substantial wins in less time and with a lower bankroll.