roulette bet

Roulette is a casino and gambling game named after the French word meaning "small wheel". In the game, a croupier spins a wheel in one direction, then spins a ball in the opposite direction around a tilted circular surface running around the circumference of the wheel. The ball eventually falls on to the wheel and into one of 37 (in European roulette) or 38 (in American roulette) colored and numbered pockets on the wheel.[1] Players place bets on the winning number and the color of the pocket, whether the number is odd or even, etcThe pockets are numbered from 1 to 36, alternating between red and black. There is a green pocket numbered 0. In American roulette, there is a second green pocket marked 00. Pockets are not in numerical order around the wheel. Some consecutive numbers are the same color. Number sequence clockwise: Single zero wheel: 0-32-15-19-4-21-2-25-17-34-6-27-13-36-11-30-8-23-10-5-24-16-33-1-20-14-31-9-22-18-29-7-28-12-35-3-26 Double zero wheel: 0-28-9-26-30-11-7-20-32-17-5-22-34-15-3-24-36-13-1-00-27-10-25-29-12-8-19-31-18-6-21-33-16-4-23-35-14-2
Players can place a variety of 'inside' bets (selecting the number of the pocket the ball will land in, or range of pockets based on their position), and 'outside' bets (including bets on various positional groupings of pockets, pocket colors, or whether it is odd or even). The payout odds for each type of bet is based on its probability. The table usually imposes minimum and maximum bets, and these rules usually apply separately for all of a player's 'inside' and 'outside' bets for each spin. Players can continue to place bets until the dealer announces "No more betsThe first form of roulette was devised in 18th century France. The roulette wheel is believed to be a fusion of the English wheel games Roly-Poly, Ace of Hearts, and E.O., and the Italian board games of Hoca and Biribi, and then the name roulette from an already existing French board game of that title.
17th Century E.O. wheel with gamblersThe game has been played in its current form since as early as 1796 in Paris. The earliest description of the roulette game in its current form is found in a French novel "La Roulette, ou le Jour" by Jaques Lablee, which describes a roulette wheel in the Palais Royal in Paris in 1796. The book was published in 1801. An even earlier reference to a game of this name was published in regulations for New France(Canada) in 1758, which banned the games of "dice, hoca, faro, and roulette." [2]
In 1842, fellow Frenchmen François and Louis Blanc added the "0" to the roulette wheel in order to achieve a house advantage. In the early 1800s, roulette was brought into the U.S. where, to further increase house odds, a second zero, "00", was introduced.
In some forms of early American roulette wheels - as shown in the 1886 Hoyle gambling books, there were numbers 1 through 28, plus a single zero, a double zero, and an American Eagle. According to Hoyle "the single 0, the double 0, and eagle are never bars; but when the ball falls into either of them, the banker sweeps every thing upon the table, except what may happen to be bet on either one of them, when he pays twenty-seven for one, which is the amount paid for all sums bet upon any single figure."
In the 1800s, roulette spread all over both Europe and the U.S., becoming one of the most famous and most popular casino games. Some call roulette the "King of Casino Games", probably because it was associated with the glamour of the casinos in Monte Carlo. (François Blanc actually established the first casinos there.)
A legend tells François Blanc supposedly bargained with the devil to obtain the secrets of roulette. The legend is based on the fact that the sum of all the numbers on the roulette wheel (from 1 to 36) is 666, which is the "Number of the Beast."
Straight: a single number. The chip is placed entirely on the middle of a number square. Split: a bet on two adjoining numbers, either on the vertical or horizontal (as in 14-17 or 8-9). The chip is placed on the line between these numbers. Street: a bet on three numbers on a single horizontal line. The chip is placed on the edge of line of a number at the end of the line (either the left or the right, depending on the layout). Corner (or square): a bet on four numbers in a square layout (as in 11-12-14-15). The chip is placed at the horizontal and vertical intersection of the lines between the numbers. Sixline (or 'sixaine'): a bet on two adjoining streets, with the chip placed at the corresponding intersection, as if in between where two street bets would be placedBets: a bet on 18 numbers. This is placed in the box representing the attribute (black/red/low/high/even/odd) that you wish to bet on. Group Bets: a bet on the first, second, or third group of twelve numbers. Column: a bet on all 12 numbers on any of the three vertical lines (such as 1-4-7-10 on down to 34). The chip is placed on the space below the final number in this string. The house average or house edge (also called the expected value) is the amount the player loses relative to any bet made, on average. If a player bets on a single number in the American game there is a probability of 1/38 that the player wins 35 times the bet, and a 37/38 chance that the player loses their bet. The expected value is:
-1*37/38 + 35*1/38 = -0.0526 (5.26% house edge)
For European roulette, a single number wins 1/37 and loses 36/37:
-1*36/37 + 35*1/37 = -0.0270 (2.70% house edge)
In roulette the house has the same edge on all other kinds of bets also, because the pay outs are always set as if the zero square(s) did not exist. The only exception are the five numbers bet where the house edge is considerably higher (7.89% on an American wheel) and the 'even money' bets in the some European games, where the house edge is halved because only half the stake is lost when a zero comes up.
The house edge should not be confused with the hold. The hold is the total amount of cash the table changes for chips, minus the chips taken away from the table. In other words, the actual "win" amount for the casino. The Casino Control Commission in Atlantic City releases a monthly report showing the win/hold amounts for each casino. The average win/hold for double zero wheels is between 21-30%, significantly more than 5.26%/2.70% of all players money because players are making repeated bets after winning and losing portions of their total money. This is known in the casino gaming industry as "churning" and is especially true of slot machine players who usually end up losing all their money.
A player with a certain total amount of money may not win or lose all their money instantly, such that the total of all bets they make will often be greater than the total of the money they actually started with. The house edge applies to each bet made; not the total money, which means the player can end up losing significantly more than 5.26% of his starting money. For example it is likely that a player with $100 making $10 bets on red will be able to bet more than 10 times, because sometimes he wins. He may end up betting a total of 20 times on red. This means the expected value is 20*$10*5.26% = $10.52, over 10% of his money is now in the 'hold' despite the game having a 5.26% house advantage. A player who continually bets until they run out of money will give the house 100% hold.