Roulette is an easy online casino game where players bet on a specific number that the ball will land on. But learning to calculate roulette payouts isn’t an option. That’s because roulette wheels can come in various forms, making it a little tricky for beginners.
So, this post discusses everything you need to know about roulette payouts and how to get started with this table game. You’ll also learn how to tell apart different roulette wheels.
Roulette is a casino game that involves spinning a wheel with 37 or 38 numbered and colored pockets. The standard roulette wheel has 0 to 36 red, black, or green sections. Remember that zero (0) or double zero (00) is the only number in the green pocket (s). Also, the colors alternate on a roulette wheel.
In most online casinos, the game starts with players making a bet on the number, color, or combination on which the ball will land. Then, the dealer will throw the ball and spin the wheel. If you accurately predict the outcome, you get a payout according to the paytable. Keep reading to learn more about that.
Before diving deeper into payouts and odds, what’s the difference between American and European Roulette? These two roulette wheels are very similar yet contrasting games. So, you won’t have any problems playing on the two wheels as long as you have some roulette knowledge.
Having said that, the main difference between these roulette wheels lies in the layout. To begin with the European wheel, this game has 37 pockets, including 1 to 36 red or black numbers and a single zero green pocket.
On the other hand, the American wheel has a total of 38 pockets. This includes 1 to 36 red and black numbers and two green pockets. The green pockets have single zero (0) and double zero (00) digits.
The house edge, also called the house advantage or the house take, is the casino’s primary source of income. This is the mathematical edge that the casino has over players on a specific game, including roulette. So, the lower the house edge, the more chances you have of winning.
Below is the most straightforward formula for calculating the house edge:
House Edge = (Odds Against Success – House Odds) x Winning Probability x 100
In this formula, the Odds Against Success are the ways to lose divided by the ways to win. The Winning Probability is a way to win, divided by ways to win plus ways to lose. You still don’t get it?
Despite the European wheel offering players 37 possible winning numbers, a single number payout remains at 35:1. This means a single unit bet at online casinos has a payout of 35 units plus the initial unit.
Therefore, if you make a straight-up bet, your winning possibility is 1 out of the 36 possible losing numbers. That’s how the casino arrives at the 35:1 payout.
This means the Odds Against Success are 36/1, whereas the House Odds are 35/1. Also, the overall probability of success is 1/37.
Using the formula discussed above, the house edge for the European wheel is:
House Edge = (36/1 – 35/1) x 1/37 x 100 = 2.70%
Interestingly, most casinos offer a 35:1 payout across both wheels. So, if you use this formula to calculate the house edge for the American wheel, you’ll arrive at:
House Edge = (37/1 – 35/1) x 1/38 x 100 = 5.26%
Roulette bets are available in two categories – inside and outside bets. Below is the complete breakdown:
In outside bets, players don’t bet on specific roulette numbers. Instead, you go for the colors and number combinations. For this reason, these are the easiest roulette bets, with most giving players a 1:1 payout and almost 50% chance of winning.
With inside bets, you predict that the ball will land on a specific digit or set of numbers. However, your chance of winning these bets is lower than outside bets. But the payout can be good.
Here are the main types of inside bets:
See, calculating roulette payouts can be very complex but easy at the same time. It all boils down to your experience on the wheel. Always remember that the European version is the most player-friendly version as it offers a lower number of pockets. And have fun!