Roulette: The House Edge
Like with all gambling, the house has an edge in Roulette over the customers in the casino. Today, casinos place a 35 to 1 odd on betting which means that the house pays $35 and you get your $1 bet back. There is typically a 1 in 38 chance that a player will win, which tilts the odds over 5% in favor of the house. This favoring, of course, allows the casino to make a profit. Interestingly, the more green squares on the wheel (In American the 0, 00, and in old times the bald eagle) increase the house odds. If there is a single 0 (green) this decreases the house edge.
Filed under Micellaneous by Syntium Interactive.
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