Do Roulette Payouts Contribute in giving an Edge to the Casinos?

Roulette is one of the most popular casino games, and ever since the advent of online casinos, its popularity has now skyrocketed to newer levels. Roulette offers such a wide number of options for betting, but actually, the bets are quite simple if you understand them. To figure out if you are getting the right payout in an UK online casino, you have to ensure you place the chips in precisely the correct position on the table. You can miss a payout if your chip is not in the right position.

This is how Roulette payouts work. The odds are mentioned in the form of x:1, which means you’ll win x money for every penny you’ve bet. For example, if a single bet offers Roulette payouts of 20:1, you’ll win $\€\£ 20 if you bet $\€\£ 1 if you end up winning the bet. 

Outside bets 

Outside bets are placed on the edge of the table, which are outside the 38 numbers on the table. Every outside bet refers to a particular set of colours and numbers. If the ball lands on 00 or 0, you’ll automatically lose the outside bet. 

The outside bet includes these: 

• • Red/black: If the ball lands on the colour you choose, the bet pays out even odds(1 to 1). 
  • Odd/even: This bet is paid out in even odds(1 to 1) when the ball lands on even or odd. 
  • Low/high: This one pays more money(1 to 1) when the ball happens to land on 1 to 18(if you bet low) or 19-36(if you bet high). 
  • Columns: The numbers are divided into three columns containing 12 numbers each. Your ‘columns’ bet wins when the ball lands upon one of the numbers you choose on the column. If you win, the bet pays out 2:1. 
  • Dozens: In total, there are 36 numbers on the table that means 3 dozens. You can place bets on the first dozen, i.e., .1-12, the second dozen i.e., .13-24 or the third dozen i.e., .25-36. The payout is 2:1 if you win.
    

Inside bets include:

You can place bets on specific numbers or a set of numbers on the inside of the layout. There is much less chance of winning, but the Roulette payouts are much more. The house edge is the same on the inside as on the outside bets. 

The inside bets include these:  

• Straight up: This is a bet on an exact number. The bet payout is 35:1. 
• Split bet: You can place a split bet on 2 adjacent numbers. The bet pays out 17:1. To place this bet, you have to place the chip between the two numbers. 
• Street bet: With this, you can bet on three numbers in a row. The Roulette payouts are 11:2. To place this bet, you have to do that on the line outside the 3 numbers. 
• Corner bet: Also called a square bet or quarter bet. This is a bet on 4 consecutive numbers. The payout is 8:1. You have to place the bet on the corner that is making a square. 
• Five-number bet: The bet pays out 6:1. And you can make only one five-number bet. It has the highest house edge, and this makes it the worst choice of a bet. You can place this bet on the numbers 1, 2, 3, 0, and 00. You place the chip on the corner outside the line between 0 and 1. 
• Six-number bet: Also called a line bet, The payout is 5:1. This bet covers two consecutive rows of numbers. 

How the Roulette payouts favour the casino 

If you closely notice, all the Roulette payouts have one thing in common. The Roulette payouts are always less than the actual odds for winning the bet. On average, the house enjoys the edge of more than 5% on the Roulette. This makes them earn money in the long run. Let’s take an example. A split bet pays out at 17:1, but your odds of winning are 18 to 1. 

You can similarly calculate any bet and will find the same fact to be true. Roulette payouts give the casino the house edge. No matter how winsome you claim your strategy to be, the only winner here is the casino. No one can overcome this, but that being said, your luck is the deciding factor here.