This system is often referred to as the Gambler’s Fallacy. It posits that if events are too tilted in one direction --- say heads appearing 80 percent in the first 10 coin tosses --- then tails must hit more to catch up with it since we are dealing with a 50/50 proposition. Even though this sounds reasonable it is not so as I shall explain in this section.
The “house edge” is what enables the casino to profit. An example is the European wheel has 37 pockets, but a 35-1 payout on single numbers. So if you win 1 in 37 as you’d expect with random bet selection, you’d be paid 35 units plus your original bet, leaving you with 36 units. But if roulette’s payouts were fair, you’d be left with 37 units after the 37 spins. Simply the house edge is unfair payouts. And it affects every bet and every roulette strategy. Even when you win, you are still getting paid unfairly.
These sorts of wagers are not suitable to risk-averse players, as the odds of winning are reduced, albeit potential profits are boosted. Gamblers will frequently bet on a single number and if they win the payout will be 35 to 1. One thing to keep in mind is that while players are allowed to bet on the zero slot or the double zero, if they play American roulette, the return on investment is 35 to 1 while the odds are 37 to 1.
Travel the world – and I do mean the world – of casinos and you will find roulette games in just about every one of them. Yet, too many roulette books and guides offer information that is limited or uninformed or downright stupid; many advocating betting systems that cannot get the player the edge but worse, many of these systems cripple the player by making him or her bet more than he or she should. I intend to fix that with this roulette guide.
Essentially, Roulette is all about odds, simple physics, and statistics. The word roulette means “little wheel”, and therefore it shouldn’t surprise you that the spinning roulette wheel was invented by a well-known gambler and math wizard. For the next hundred years or so, the early Roulette wheel remained untouched – until Francois and Louis Blanc came upon it. Thanks to their addition of the number zero space on the wheel, the house edge was immediately increased, and turned Roulette into a huge money winner for casinos from then on.
On an American wheel, there are 38 spots: numbers 1-36, plus 0 and 00. Your odds of winning a one-number bet are 37 to 1 (37 ways to lose, 1 way to win). But if you win, the casino doesn't pay you 37 to 1, they pay you less: 35 to 1. The difference between the true odds and what they actually pay you is 2/38, or 5.26%. You can do this same calculation for the other bets, and it comes out the same.