As one of the most popular gambling games in the world, roulette has been captivating the minds of people for centuries. Those who were familiarised with the game through movies and popular trivia may think that betting on red/black or the exact number are the only possibilities, but this is far from the truth.
Roulette is a game of many options, and players get to choose their volatility levels by selecting different bets. While some risk-averse players want to make less volatile bets, others go for glory and put their money on certain numbers looking to make a significant profit.
In this short guide to roulette bets, we take a look at different betting options offered to the players and explain how each bet works and what you can hope to gain by making it.
Roulette Betting Explained
Whether you are playing live or online roulette, the betting process is pretty much the same. All bets are made away from the wheel itself, on a roulette table which is split into different fields. Depending on the type of roulette game, the table will contain a single field for every number on the wheel as well as various other fields.
The number fields are lined up in columns of three, with white lines dividing them. Players can make bets on the number itself or on the lines between them, with each bet offering a different payout. All bets made in this part of the table are called inside bets, and they are considered the higher volatility bets.
The outside bets, on the other hand, are less volatile and often less exciting, but also more sustainable. Outside bets include the likes of red/black or odd/even and the payouts on them are much smaller. However, the chance of getting these bets right is also much higher.
When playing online, you can place any of these bets by using virtual chips of different denominations and clicking the corresponding field on the virtual roulette table.
Inside Bets in Roulette
Inside bets in roulette are bets placed on the exact number or the lines splitting the numbers on the table. There are several inside bets players can make, and each of them offers a different payout and different winning odds. Some of the popular inside bets include:
- Straight bet: The straight bet is placed on only one number, and it is the highest paying roulette bet. The player wins only if the ball lands in the exact slot.
- Split bet: Placed on the line between two numbers, a split bet pays out if either of the two slots is the winning one, with all payouts cut in half.
- Street bet: A bet placed on three numbers, consecutive in order. Each bet is split between the three numbers and provides a payout if either of the three lands.
- Six line bet: A bet that includes six numbers in two adjacent columns. This bet is an inside bet that most resembles most of the outside bets.
Some other inside bets can be made in roulette as well, such as those made by placing a chip on the corner of the zero and one of the adjacent numbers. In either case, the most important thing to remember about inside bets is that they are highly volatile and placed on the inner part of the roulette betting table.
Outside Bets in Roulette
Unlike inside bets, the outside bets are much less volatile and more sustainable in the long run. You will need much fewer betting units if you decide to go with the outside betting strategy as you are more or less guaranteed to have some wins even when not running very hot.
Unlike inside bets that can pay up to 35:1, outside bets pay double or triple the money invested since they are much more likely to land. A player betting on one of the outside bets may choose to make a bigger bet than he would on the inside bets and the maximum amount one can place on these is usually much higher as well.
Some of the most popular outside bets are:
- Red or black: The type of bet that most novice roulette players start with, red or black is a simple bet that pays double the money invested. In order to win, the winning number must match the colour you bet on.
- Odd or even: Very similar to the red/black option, the odd/even bet will be a winner if the winning number corresponds with your choice. The payout is even money, the same as the red/black bet.
- Halves betting: This bet includes half of the roulette wheel. The player chooses whether he will bet the first or the second half of the numbers on the wheel, with zero excluded from these bets. Payouts are even money.
- Column betting: There is a total of three columns of numbers on the roulette table. The player chooses one and gets paid 2:1, with zero not a part of any of the columns.
- Dozens betting: Just like columns, dozens include 12 numbers. The player may choose any of the three dozens and will get a 2:1 payout if the winning number is in the selected column.
Place Your Bets
The betting process in the game of roulette is quite simple and straightforward, but the truth is that there are many options for players to pick from. If you are new to roulette, we suggest trying out some outside betting to kick things off and get a feeling for the game and work your way up to inside betting.
Whichever of the betting options you choose, it is essential to remember that the house edge always remains the same, fixed at about 2.7% in the classic game of European Roulette and about double that in American Roulette. The choice of bets will, however, dramatically change the volatility levels of your bets, so choose wisely and take good care of your bankroll so as not to lose it all in a single bad session.