With the game of online European roulette, you can learn a lot of things. The role of house edge and how payout percentages work which you get from various types of bets are some of those lesions. Actually, one of those lessons is the roles of house edge and that of payout percentages of players which you get from various types of bets. So, it’s time to delve into the benefits of playing European roulette and find out how different bets have different risks. Even though it is believed that all bets in this game have same rate of payout basically, is it true actually?
The Basics of House Advantage
To recall, house advantage is the percentage rate of each wager which must go to online casino. Higher house edge gives less advantage and it is believed to belong to the player of the game. It is not that simple to calculate the house advantage of some of the online casino games. In terms of online roulette, you can easily estimate the house edge.
In this game, one of the easiest bets you can place is the single bet with which you can place bet on any of the available numbers from 1 to 36 and the single zero. A player who places simply €1 worth of bet can expect at least €35 to win and, if he loses, €1 is forfeited.
Off 37 potential outcomes, the player can win only on one outcome. So there are 0.027 chances to win and the winning ratio is only 1:37. On the other side, there is a risk of losing at 0.973 or 36:37 out of 37 possible outcomes.
So, how to calculate the house advantage?
When it comes to place bet on €1, the formula to calculate the house edge is –
(35 x 0.027) – (1 x 0.973) = 0.027. Hence, for placing every €1 on any given number, a player may lose €0.027, or when it comes to look at it from the viewpoint of casino. The house is all set to retain €0.027. The percentage totals to 2.7% when looking at it.
What if you want to go with corner bet? You can win at 8x payout with a corner bet, i.e. total 4 off 37 times, and loss of 1x bet in 33:37. The odds come to 2.7%. If you go with the same process with other bets, you will have loss of same percentage which serves as a house edge no matter how you bet in this game.
One of the best parts of European roulette is that house edge seems to stay stable, no matter how you bet, so the reward and risk ratio evens out to give the same rate of payout essentially. In case you place bet on a number for a while then change the bet to three, rate of payout will adjust automatically on its own to keep the rate of payout same. You can develop complex strategies on the basis of this information without worrying about consequences on overall house edge.
