There are many possible wagers in roulette and the player can make any number them, each for any amount equal or
lower than the maximum and equal or higher than the minimum. The
rectangle containing numbers 1 to 36 and including 0 and 00 is the
"internal" part of the roulette table (see the figure below), while all
the other betting positions are "external" bets.
The odds vary for the different betting positions. For example, a
Straight up bet (single number), such as those marked with letter "a",
has odds of 38 to 1, as there are 18 possible outcomes and only one
winning number. This means a probability of 1/38 or 0.0263 for this kind
of bet. For a Corner bet such as that marked with letter "d" the odds
are 38 to 4, as there are 38 possible outcomes and 4 winning numbers
(31, 32, 34 and 35 for the example "d" in the figure), that is a
probability of 4/18 or 0.1053. For external bets, such as red or black
(position "i") the odds are 38 to 18 and the probability is 18/38 or
0.4737. The odds for all the possible bets of the roulette are shown in
the last column of the table below.
The payoffs also vary with the odds. For a single number bet the payoff
is 35 to 1, but as the wager is also returned, the winning player
receives 36 times the amount of the bet. That means that the return is
36/38 or 94.74% and that the house edge is 5.26% in roulette. These
figures are the same for all the possible bets. For example, for a
Corner bet (4 numbers) the payoff is 8 to 1, but as there are 4 winning
numbers, this means that in the average a Corner bet wins 4 times out
38, and each time wins 8 so it wins 8x4=32 plus 4 times the returned
bet, making a total of 36 times the bet each 38 draws (in the average),
which renders the same 36/38 or 94.7% returns. For a red or black bet
the odds are 38 to 18 and the return is also 36/38, as this kinds of bet
wins 18 times out of 38 and receive twice the wager amount each time.
Therefore what you can win at roulette is determined not only by the
roulette odds, but also by the payoff and in the average you receive
94.7% of what you wager, no matter what kind if bet you make. Winnings
at the roulette are etirely based on luck and can pile up to staggering
amounts. For example if you win a Straight bet three times in a row
without withdrawing the winnigs, which is not uncommon for lucky
gamblers, a $10 bet would be converted in $10x36x36x36=$466,560 and it
is this kind of outcomes that keep roulette gamblers fascinated with the
game and in hope of such huge gains.