The even money bet in roulette is a low-risk wager that gives you a 50/50 chance of winning.
If you don’t want to take risks when you play roulette, the even money bet is the way to go. This article looks at even money bets in roulette.
What are Even Money Bets?
In online roulette, an even money bet offers a 1:1 payout. If you bet $10 and win, you’ll receive $10 in winnings plus your original bet back.
Examples of even money bets include:
- Red/Black
- Odd/Even or Impair/Pair
- The Hi/Lo Bet, 1 to 18/19 to 36 or Manque/Passe
Even money doesn’t always give you a 50/50 chance of winning. It’s got to do with the zero pocket which has a profound effect on the house edge.
European roulette with its single zero has a house edge of 2.6%. If you play American Roulette with its two zeros the house edge is 5.20%.
It’s safe to conclude that your odds of winning even money bets in European roulette is 47.4%. And, for American roulette, it’s 44.8%.
Red/Black
When I started playing roulette everybody told me to just “stick it on red”, or “drop a quid on black”.
The roulette wheel has 37 numbers on it as well as zero. Eighteen of those numbers are black and 18 are red along with the green zero.
You’ll get odds of 1:1 by betting on red or black, well more or less. It depends on whether you’re playing European or American roulette.
More importantly, if the ball lands on zero on an even money bet, you’ll lose.
Odd/Even
You can bet on an even or odd number by splitting them between red or black.
What are your chances of winning with odd/even bets? You have a 48.6% chance of winning with 18 odd numbers and 18 even numbers. The zero doesn’t count.
High or Low
The High or Low is another even-money bet with numbers ranging from 1 to 18 and 19 to 36. You can bet on either side of the table on any of the numbers above.
If the ball lands on the zero you’ll lose your bet.
Odds Of Winning Even Money Bets
The odds of winning an even money bet in roulette are slightly less than 50%.
This is due to the presence of the green 0 and 00 slots on the wheel in American roulette. The double zero in roulette increases the house edge.
European roulette has a single 0 slot, the odds of winning an even money bet is 50%.
Play European Roulette
When it comes to even money bets play European roulette, it offers you better odds than American roulette.
However, French roulette with its “La Partage” rule offers a house edge of 1.3%. Essentially it’s a great wager for you but not for the online casino.
Now, another way to swing the odds your way is to place “Chip Bomb” bets.
More to the point, it’s when you place multiple chips on the middle column. Make sure they don’t overlap.
Even Money Bets in Systems
You can swing the pendulum your way with even money bets by using a betting system. Systems like the Martingale, or the Fibonacci.
I find that the Hollandish roulette system works quite well for even money bets. Unlike the Martingale it’s not as aggressive. You mix up your even money bets according to your bankroll.
However, I do advise caution because using a betting system in roulette is a risk. Other progression systems worth mentioning are the Reverse Fibonacci, and 1326.
How To Place Even Money Bets
Placing an even money bet in roulette is easy. Place your chips on the corresponding section of the table.
For example, if you want to bet on red, place your chips on the red section of the table. Once you place your bets, the dealer will spin the wheel and the ball.
Tips For Playing Even Money Bets
Even money bets in roulette are straightforward, here are a few tips to increase your chances of winning:
- Stick to even money bets: Even money bets have the best odds in roulette. Stick to them if you want to maximize your chances of winning.
- Play European roulette: If possible, play European roulette instead of American roulette. The absence of the extra 00 in European roulette gives you better odds of winning.
- Manage your bankroll: Set a budget and stick to it. Don’t chase your losses or bet more than you can afford.
- Don’t rely on roulette betting systems: Betting systems are not effective and they are risky. Moreover, the outcome of each spin is random. Therefore, there’s no way to predict what the next winning number will be.
Pros and Cons Of Even Money Bets
Even money bets in roulette have both advantages and disadvantages:
Pros
- Simple and easy to understand
- Offer a 50/50 chance of winning
- Earns small gains over time
Cons
- Low payouts compared to other bets
- Slightly less than a 50% chance of winning in American roulette
FAQ
Can I place even money bets on red and black at the same time?
No, you can only place even money bets on one option at a time. Placing bets on both red and black would cancel each other out.
Can I combine even money bets with other bets?
Yes, you can combine even money bets with other bets on the roulette table.
What’s the difference between even money bets and 1:1 bets?
Even money bets and 1:1 bets are the same thing.
What’s the best strategy for playing even money bets?
No strategy guarantees success in roulette.