Key Takeaways
- The payout ratio for a straight bet is 35:1
- American roulette has 5.26% house edge while the European version at 2.7%
- Consider combining different types of bets to find the right balance between risk and reward
How Roulette Payouts Work
Two factors determine your payout when you win in a live roulette game: first, the amount that you bet, and second, the odds attached to the game. For instance, if you place a $1 wager on a column or dozen bet at a 2:1 ratio, your winnings would amount to $2.
The highest possible payout in roulette is 35:1, which means if you stake $1, you stand a chance of winning $35. There are also outside bets like red/black or odd/even that give you a 50% chance of winning.
It is important to note that the house edge also determines the overall odds. Keep in mind that the different variations of roulette have their house edges: American roulette has 5.26% while the European version at 2.7%. This can have direct impacts on long-term payouts.
Inside Bets and Their Payouts
These are bets you make on specific numbers or a small group of numbers. Inside bets generally have a low win rate, but the good thing is, when you eventually win, it’s often substantial. If you are not afraid of taking risks, this is a perfect option. There are different types of inside bets; they include:
- Straight bet: This is the riskiest on the list. In this scenario, you place a single bet at a ratio of 35:1.
- Split bet: When you play split bet, it means you are betting on two adjacent numbers with a ratio of 17:1.
- Street bet: In this case, you are betting on three consecutive numbers in a row, with a ratio of 11:1.
- Corner bet: Just like the name implies, you will cover four numbers in a square shape on the table. The ratio is 8:1.
- Line bet: This covers six numbers in two adjacent rows with a ratio of 5:1.
Outside Bets and Their Payouts
As you can already guess, outside betting is the opposite of inside betting. In this type of roulette, you’ll wager on a larger group. It could be colors or a range of different numbers.
When compared to inside betting, outside bets have less risk—because you have more options—with a lower payout. There are three types of outside bets, including:
- Red or Black: This type of bet allows you to choose between red or black.
- Odd or even number: You can predict if the outcome would be an odd or even number.
- High or low: In this type of bet, you predict whether the outcome will fall into one of two categories: low between 1 and 18 or high between 19 and 36 numbers.
Column and dozen bets are also types of outside bets.
American vs. European Roulette Payouts
These versions of roulette have noticeable differences, especially in their payouts. The key difference lies in the layout of the wheels. American roulette has both single and double zeros, while European roulette has only a single zero.
American roulette’s odds have both single and double zeros; this gives the house a 5.26% house edge. On the other hand, European roulette has just one zero, which gives the house a 2.7% edge. The double zero on the American wheel slightly decreases your chances of winning when compared to the European roulette. Both games are enjoyable and can provide substantial payouts; however, if you aim to enhance your odds, European roulette is a more favorable choice.
Maximizing Payouts in Online Roulette
If you want to maximize your payout when playing online roulette, consider using strategies that will give you a balanced risk-to-reward ratio. One approach is to focus on outside bets because of their low risk. Although outside bets only give small payouts, this strategy can give you consistent wins.
If you fall into the category of gamblers who want to win big, outside bets can be a turn-off. Don’t worry, you can still maximize your payouts inside by following these rules:
- Play roulette demo before staking real money
- Play with small bets so you can play longer
- Study the table and rules, and also check the terms and conditions
- Take advantage of bonuses
Another option is to combine both inside and outside bets. This way, you can balance your risk without taking away your chance of hitting it big. Finally, since European roulette has slightly better odds, consider picking it over its American counterpart.