The House Edge in Roullete
Roullete, or Roulette, is a casino game in which players wager on the outcome of a spinning wheel. Its various betting combinations bring about different odds for winning and correspondingly different payouts. In the past, there have been numerous theories as to the game’s origins, but in truth it was devised in France in the 17th century. It then spread throughout Europe and was banned in the United States until it resurfaced in Monaco in the late 19th Century.
Players place their bets by placing chips on a special betting mat with the exact location of each chip indicating the bet. Then the croupier, who is usually dressed in red, spins the wheel and drops a ball into one of the thirty-six divisions around the edge. These are numbered from 1 to 36 alternately in red and black and on European wheels, there is also an additional green compartment marked 0. On American tables, there is another green zero located between the sections containing number 1 and 3.
Each time the wheel stops, the ball comes to rest in one of these divisions, and if players have made bets on specific numbers, groups or colors they win according to their betting odds. These bets are known as “Inside bets.” There are also bets which cover multiple numbers, either six or twelve, and these are called “Outside bets”. Finally, there are announced bets which are special bets placed on certain propositions such as the high-low, odd-even, red-black, first and second dozen, etc.
In the event that a player’s bet wins, the payout is determined by the number of chips wagered and the position on the table. In the case of a straight-up bet on number 1, it requires 40 chips and pays 392 chips, whereas a bet on number 2 would cost 27 chips and pay 235 chips.
There are many variations in roulette game rules and the layout of the table and wheel, but the house edge is always the same regardless. This is not the case for other casino games such as craps, where the house edge can range widely from one game to the next. However, it is important to understand the house edge in roulette so that you can make informed decisions about what bets to place and when to place them.