Understanding Fairplay Roulette Payouts and Odds

Roulette is a well-liked game played in casinos where a wheel with numbers on it spins around and a little ball is thrown onto it. Gamblers bet on which pocket they believe the ball will end up in. The game offers various betting options, each with its own payout and odds.

Roulette Payouts

Roulette is an exciting game that gives you the opportunity to win a lot of money. One crucial aspect of playing roulette is understanding the payouts. In this article, we will delve into the details of roulette payouts, explaining how they work and providing examples to help you grasp the concept.

Inside Bets

Inside bets are when you bet on particular numbers or small groups of numbers on the roulette table. These types of bets give you more money if you win but have lower odds of winning. Here are some common inside bets:

Outside Bets

Outside bets are wagers placed on larger groups of numbers or characteristics of the numbers (such as their color or even/odd status). These types of bets are more likely to result in a win but offer lower payouts. Here are some common outside bets:

Combination Bets

Players can also combine various inside and outside bets to create their own betting strategies. For example, placing a split bet on two adjacent numbers and a column bet on a specific column allows you to cover a broader range of numbers while still maintaining the potential for higher payouts.

Maximum Payout Limits

It’s important to note that each roulette table has maximum payout limits, which cap the amount of money you can win on a single bet. These limits vary between casinos and roulette variations, so it’s advisable to check the specific rules and limits before playing.

Bets Odds

Understanding Probability and House Edge:

In roulette, the odds of winning are closely tied to the probability of a particular outcome occurring. Probability is shown as a fraction or a percentage, telling us how likely something is to occur. For example, the probability of winning a straight bet in European roulette is 1/37 or approximately 2.7%.

The house edge is another critical factor to consider when discussing roulette odds. It represents the advantage the casino has over the players and is typically expressed as a percentage. In European roulette, the house edge is approximately 2.7%, while in American roulette, it increases to around 5.26% due to the presence of the extra “00” pocket.

Special Bets

In addition to the standard inside and outside bets, some roulette games offer special bets. These bets are often based on the layout of the roulette table and allow players to wager on specific combinations or patterns of numbers. Examples include “Voisins du Zéro” (a bet on a series of numbers around the “0” pocket) and “Orphelins” (a bet on numbers not covered by the Voisins or Tiers bets). These special bets provide an alternative betting option for players seeking more variety.

Voisins du Zéro (Neighbors of Zero)

The Voisins du Zéro bet is a special bet that covers a series of numbers surrounding the “0” pocket on the roulette wheel. It includes the seventeen numbers from 22 to 25, covering a section of the wheel opposite the Voisins and Tiers bets. This bet typically requires at least nine chips to cover all the numbers adequately.

Tiers du Cylindre (Thirds of the Wheel)

The Tiers du Cylindre bet allows players to wager on approximately one-third of the roulette wheel. It covers the twelve numbers opposite the “0” pocket, ranging from 27 to 33 on the wheel. To cover these numbers, six chips are usually required for adequate placement.

Orphelins (Orphans)

The Orphelins bet covers the remaining numbers on the roulette wheel that are not included in the Voisins or Tiers bets. It consists of eight numbers: 1, 6, 9, 14, 17, 20, 31, and 34. This bet requires five chips to cover all the numbers effectively.

Jeu Zéro (Zero Game)

The Jeu Zéro bet is similar to the Voisins du Zéro bet, but it covers a smaller series of numbers around the “0” pocket. It consists of the seven numbers that are nearest to the “0” on the roulette wheel: 12, 35, 3, 26, 0, 32, and 15. Typically, four chips are needed to cover these numbers adequately.

Final Bets (Finale)

Final bets allow players to wager on numbers that end with the same digit. For example, you choose to make a bet called the “Final 5.” This means you are wagering on all the numbers that have 5 as their last digit, such as 5, 15, 25, and 35. This bet can be placed individually on a specific number or as a combination bet, covering multiple final digits.

Snake Bet

The Snake bet is a unique bet that forms a zigzag pattern across the roulette wheel layout. This betting option covers a set of specific numbers: 1, 5, 9, 12, 14, 16, 19, 23, 27, 30, 32, and 34. This bet requires a total of twelve chips to cover all the numbers adequately.

Special Bets Odds

Expected Value (EV)

Expected Value is a mathematical concept that can be applied to roulette and other casino games. It represents the average amount a player can expect to win or lose on a particular bet over the long run.

Calculating Expected Value

To find the Expected Value, you need to multiply the chance of winning a bet by the prize you can win, and then subtract the chance of losing multiplied by the amount you bet. The formula is as follows:

Expected Value = (Probability of Winning * Payout) – (Probability of Losing * Amount Wagered)

For example, let’s consider a simple even-money bet in European roulette, such as betting on red. The probability of winning this bet is 18/37 (since there are 18 red numbers out of a total of 37 numbers on the wheel). The probability of losing is 19/37 (since there is one green “0” pocket). The payout for winning an even-money bet is usually 1:1 (doubling your wager).

Using these probabilities and payout, we can calculate the Expected Value:

Expected Value = (18/37 * 1) – (19/37 * 1) = -1/37 ≈ -0.027

In this case, the Expected Value for an even-money bet on red in European roulette is approximately -0.027. This means that, on average, for every unit wagered on this bet over the long run, you can expect to lose 0.027 units.

Understanding Positive and Negative Expected Value

A positive Expected Value indicates a potentially favorable bet, as it suggests that, on average, you can expect to win more than you wager over the long run. Conversely, a negative Expected Value indicates a disadvantageous bet, implying that, on average, you can expect to lose more than you wager over time.

In roulette, it is important to note that almost all bets have a negative Expected Value due to the presence of the green “0” (and “00” in American roulette) pocket(s), which provide an edge to the casino known as the house edge.

Using Expected Value in Decision Making

Expected Value is a useful tool for players to make more informed decisions about their bets in roulette. By understanding the Expected Value of different bets, players can identify which bets are more advantageous or disadvantageous in the long run. However, it’s crucial to remember that roulette is a game of chance, and short-term results can deviate significantly from the expected averages.

Variations in Expected Value

Expected Value can vary depending on the specific bets made in roulette. Different bets have different probabilities and payouts, leading to varying Expected Values. For example, inside bets such as straight-up bets (betting on a single number) have higher payouts but lower probabilities, resulting in higher risk and potentially higher expected losses.

FAQs

Conclusion

Understanding roulette odds, special bets, and expected value provide valuable insights for players to make informed decisions and effectively manage their bankroll. While roulette is a game of chance, knowing the probabilities and payouts associated with different bets allows for strategic choices. Special bets offer alternative wagering options, while expected value calculates the average win or loss over the long run. However, the house edge remains present in roulette, representing the casino’s advantage. Responsible gambling practices, such as setting limits and playing within one’s means, are essential. By combining knowledge of odds, special bets, and expected value with responsible play, players can enhance their roulette experience and make informed decisions while enjoying the game’s excitement.

Register at Fairplay today and start playing on different online roulette tables.