Even money bets are perhaps the most important in a game of roulette. They are designed to give you an edge of sorts. After all, the probability for even money bets is roulette 50/50 – or almost. These bets tend to carry the smallest amount of risk when playing roulette, and even though they can be rather underwhelming because of their 1:1 payout, they are still considered to be the best way to make a return on your roulette gameplay.
Even money bets are defined as the bets that you place on the “outside,” such as Even/Odd or Red/Black. Essentially, you are betting on two groups of numbers that can be opposed to one another and have a similar probability of occurring, which is usually 47.30%.
Basics of Even Money Bets
Even money meaning you get a 1:1 payout for the money you stake. These bets, though, also come with the same probability of landing. For each selection in an even money bet, you have a 47.30% chance of hitting the outcome minus a 2.70% house edge for the European Roulette wheel.
The types of even money bets include Red/Black, Odd/Even, and Low/High. The odds of any of these outcomes, i.e., Red, Black, Odd, Even, Low, or High Numbers, is 47.30%, which means that you have the same odds across any selection you place. This makes it easy to follow the game action and even calculate your risk.
The Appeal of Even Money Bets for Players
There is a clear appeal in an evens bet. For starters, these are the lowest-risk of bets you can enjoy. They will definitely be better than Inside Bets, which has much slimmer odds (even if somewhat juicier payouts). There is also a strategic benefit to choosing to go with evens betting.
You are much less likely to break the bank this way, and money on bets that offer 47.30% is considered to be the best spent funds you can stake on roulette. Essentially, you are hedging against hitting the table limit or running out of money to bet.
Strategies for Even Money Betting
The other great thing about evens betting odds is that you can benefit from a number of excellent strategies. There is Martingale, where you double up after every loss and return to a basic unit after every win. You may play D’Alembert which asks you to increase your stakes gradually or explore other even bet strategies such as Fibonacci or Labouchere.
House Edge and Even Money Bets
So, what does even mean in betting? It simply means that you get an even chance to get a payout. Every selection you place is actually based on the same odds. The house edge impacts your chance of success, though. It’s not a 50-50 split, as the 2.70% house edge eats into this.
So, if we were to compare European vs American Roulette, you will notice that because of the 00 that the latter has, the house edge is much greater at 5.26% and as a result, your chance of hitting the desired outcome is actually smaller.
Special Rules: La Partage and En Prison
Okay, to understand what is an even money bet, we also need to understand how some even-money betting rules may help you for the better.
- Some games, including French Roulette, include rules such as La Partage. This means that if the ball lands on a zero, the money will be split, and you will collect half of your bet (as opposed to losing it entirely).
- The second cool rule is called En Prison – or a second chance bet when placing evens in betting. Basically, you will have the same bet locked in with the wheel respinning. The evens betting odds are much better in this case with the house edge a mere 1.35%.
Bankroll Management with Even Money Bets
If you want to know what is an even money bet and how to win it you will also need to know how to make use of it in the first place. By now, you know that groups of numbers – such as Red/Black, High/Low, and Even/Odd all constitute an even bet. But how do you make the most use of it?
Well, you will need to take care of the way you approach each game! There are effective ways to do that – from setting betting limits, to managing your bankroll smartly, to starting with a small bet size when you play!
Differences Between Online and Live Roulette for Even Money Bets
For the most part, the live and online version of roulette doesn’t really affect even money bets. What does even money mean in an online game. The exact same it does in a land-based casino! The key difference is that you will play much quicker, and often find some special rules such as La Partage and En Prison which are frankly easier to find online than in land-based casinos.
Avoiding Common Mistakes with Even Money Bets
What does even odds mean when you are looking to play and make the most out of your experience? It means that you have a chance of avoiding some common mistakes when playing, too! For example, some players tend to chase losses – do not! It’s all down to random numbers. Just stick to your strategy. Do not misinterpret the odds either. The house edge means that you will lose eventually. It’s unavoidable. But by being smart in the short and mid-term, you may actually gain something.
Conclusion: Making the Most of Even Money Bets
So, to sum it all up – even money bet examples would be Red/Black, Even/Odd, or Low/High numbers. You will have a nearly 50% chance to win your even-money bets and a 1:1 on each of those. However, the house edge will sooner or later catch up to you. This is why it’s important to follow a good strategy and follow it smartly and cautiously.