Roulette Bets

Inside bets

1. A straight. This is a single number. The chip is positioned on the center of a number.

2. Street - The bet on three numbers located on a line which is horizontal. The chip is placed on the edge of the horizontal line at the left or right depending on the wheel layout.

3. Spit is the inside bet for two adjoining numbers which can be located either on the vertical or horizontal like 8-9 or 14 to 17. The chip should be placed on the line between the numbers.

4. Square or corner - In a square layout like 11-12-14-15, the bet is placed on these four numbers. The chip will be placed at the vertical and horizontal intersecting lines around those numbers.

5. Sixaine or Sixline - This is a bet on streets that are adjoined. The chip is placed at the intersection, between where the two streets will be positioned.

Outside Bets

1. Even Money Bets - This is an 18 number bet. The bet is placed in the box which represents the red/black/low/high/odd/even attributes that one wishes to bet.

The subcategories of Even money bets are: - Column - This is a bet for all the twelve numbers on any of the triple vertical lines.

- Group bets - The bet will be placed on the groups of the twelve numbers, either on the first, second or third.

2. House Average or Edge / Expected Value - the amount the player of roulette loses. This is also relative to any bet one makes. If one player places a bet on one number in the American roulette, the probability is 1/38. The player could win thirty five times his bet and there is a 37/38 chance that the player could lose the bet.

There is a 5.26% house edge, thus 1*37/38 + 35*1/38 = -0.0526 (5.26% house edge) For the European roulette, the single number has a winning probability of 1/37 and a player could lose 36/37. The expected value is 2.70%, thus -1*36/37 + 35*1/37 = -0.0270.

The house has the same expected values on all the other kinds of bets, because the pay outs are constantly set as if the square of zero does not exist. The five numbers bet where the expected value is higher is the only exception. The five number bet for the American roulette has a house edge of 7.89%. In the European roulette, the house edge is divided into two because only half of the payout is lost when it falls on a zero.