The next bets we are going to cover take place outside the 0-36 numbered area. You’ll see them listed around the numbered area and are referred to as ‘outside bets’. There are three distinct types of outside bets and all of them have different odds which is their main distinction.
Even Money Bets
These bets return winnings equal to you the stake you place. There are three types of even money bets all with the same odds – high-low, odd-even and red-black. You can place wagers on each of these bets – or even multiple bets on the same spin – e.g. you could bet on a red, odd and high number being spun.
Here are the Even money outside bets available on most roulette tables.
There is an important point to remember, although the payouts on these bets are even money, the odds aren’t. This is because if the wheel is spun and a zero comes up then the house wins. This tilts the advantage to the casino - on European wheels there is a single zero, but on an American roulette table there are two zeros – this doubles the house advantage. Needless to say it is much more preferable to play on a European table – if you’re playing in a casino somewhere in the US then you may have no choice but you should never play roulette online using a table which has two zeros!
There are rules which limit this advantage, for example in Atlantic City you’ll find most of the casinos operate the ‘no surrender’ rule which will allow you to remove half your bet when a zero is spun. In Europe this rule is expanded into something known as “En Prison’ where you get even more chances. Playing roulette on a European wheel operating the ‘En Prison’ rule gives the player about the best odds he’ll find for roulette.
The bets themselves need little explanation.
High Low Bets
You choose to bet on (1-18) Low or 19-36 (High). If you choose correctly your bet wins at even money.
You can bet on the number being odd or even. So if you place your stake on odd and a number like 19, 21, or 27 comes up then you win. Note that zero on all these bets is a house win.
There are 18 red numbers and 18 black numbers so the odds on red or black are equal. Pick red or black and win or lose on the result, payout is at even money and again zero is a loss (it’s normally green).
These even money roulette bets are normally at the heart of most roulette strategies and systems. But remember that each spin is independent, the wheel has no memory. If the dealer spins 9 reds in a row, the odds on spinning a red in the next spin are exactly equal however you may be expecting a black number. Many roulette strategies try to pretend that these odds change depending on the previous spins – which is nonsense whatever they say.