Roulette Odds – A Crusade Against High House Edge

Roulette is quite an interesting game. In fact, it is among the most followed games in gambling casinos. There is a reason behind it. Unlike other games, Roulette is largely marked by luck and you do not need much talent for fathoming the game. Well! This also means that the house has a larger edge in this game (games of greater luck quotient generally provide the gambling houses with a higher edge).

Today, we have beautifully ushered into the domain of online gambling. Online casinos hold various games and among them Blackjack, Backgammon, Poker, Roulette and Flush are the most followed. There is something about the Roulette which simply separates it from others. Perhaps, Roulette Wheel is symbolic of the wheel of fortune and this attracts people towards it.

Single Zero European Roulette Tables have 37 digits. Double Zero Roulette tables have 38 digits. This includes two zeroes. Obviously, the American Roulette or the double zero tables offer a more difficult probability of winning money. In Roulette, players have to put money on a number and they get exponential returns on picking the correct number.

While placing the roulette bets, you shall know about the roulette odds and house edge. If you put your bet on all the even numbers on an American roulette then your chances of winning or the winning probability will be 47.37 percent and the house edge will be 5.26 percent. Let’s explain- American roulette has 2 zeroes. This means that it has 18 even numbers among 38 numbers. So chances of the ball falling on the even numbers is (18×100)/ 38 or 47.37 percent.

This means that the house edge is 100- (47.37+47.37) or 5.26 percent. This is a huge house edge which cannot be discounted. European roulette is better for players. While placing a similar bet on them, your winning probability will be (18×100) /37 or 48.65. House edge is cut down to 2.7 percent. That’s nearly half the house edge in comparison to what the US roulette sucks from us.

Different theories have been formulated by players and mathematical theorists over the ages. A few believe in the theory of sticking to the same number till it finally hits. Even if you get lucky after 30 odd attempts, you will be making money. It is found out that this theory does not overcome the house edge and misreads the risk of ruin.

Another theory suggests exponential (Martingale) betting. This means that you shall bet 1 unit, 2 units, 4 units, 8 units, 16 units and so on till you finally win. On winning, you will be able to wash off previous losses and will still have something to show. While this is a smart thought yet it would need quite a fortune to keep playing exponentially after 20 continuous defeats. A simple calculation shows that you will have to play 517288 units on your 20th bet if you continue playing in this method. So if your 1 unit bet was 10 USD, 20th bet shall be more than 5 million USD; any Warren Buffet or Richard Branson here? Even if you had that money, no casino would accept the bet.