The House Edge in Roulette
Roulette is a casino game that involves spinning a wheel to select a number. Bets can be placed on a single number, various groupings of numbers, the colors red or black, whether a number is odd or even, and whether the number is high (1-18) or low (19-36). The game of roulette dates back to the 17th century and was likely developed from the Italian game Biribi. The modern game is played both in live casinos and online.
While roulette has the smallest following among casino games in the United States, it is still popular in Europe. It draws big crowds in Monte Carlo and other European resorts. It is a mainstay of many Las Vegas casinos, and it has also made its way to online casinos.
A roulette wheel consists of a solid wooden disk slightly convex in shape with a metal partitions, called frets, around the perimeter. Thirty-six of these compartments are painted alternately in red and black, while two green compartments on the outer edge of the wheel carry the signs 0 and 00.
During the game, a croupier spins the wheel in one direction and rolls a small ball in the opposite direction around a tilted circular track that runs around the perimeter of the wheel. When the ball comes to a stop, the dealer pays the winners and then clears losing bets from the table. Then the dealer spins the wheel again and repeats the process.
The house edge in roulette is the biggest difference between it and other casino games. The odds of hitting a single number on a straight-up bet are 37 to 1—but the payouts are only 35 to 1. This discrepancy gives the casino its edge in roulette.
Some players can overcome the house edge by using betting strategies. But these systems require a large bankroll and can be costly if they lose. The most common strategy is known as the Martingale strategy. It requires doubling your stake after every loss, and resetting it to the initial stake after you win. The goal is to achieve a profit equal to your original bet.
Another popular roulette strategy is called the James Bond strategy, which combines inside and outside bets to increase your chances of winning. While it doesn’t guarantee a win, it does reduce the house edge to 0.7%. This system is most effective for low to medium bets, but it’s not suitable for high-risk bets like color or number. It is a good choice for beginners and those with limited funds.