Roulette is one of the most popular games played in Las Vegas but you need to understand the betting options in order to play. First, you need to know when to place your bet. The dealer will spin the wheel, and this is when the betting begins. When the ball slows down, the dealer will announce that you can no longer place bets. He will also wave his hands as a signal indicating all bets have ended.
There are two types of bets called the Inside and the Outside bets. You make inside bets by using a specific number on the inner part of the table or by using a combination of these numbers. Inside bets have larger payouts because the odds of winning are less.
Types of Inside Bets:
- Straight Bets– When you bet on one number between one and thirty-six, it’s called a straight bet. This is the most basic type of bet used most often and it has the largest payout, which is 35 to 1.
- Split Bets– This is when you bet on two numbers at once and it pays 17 to 1. However, the two numbers you bet on must be next to each other.
- Street Bets– This is basically the same as a split bet but instead of betting on two numbers, you bet on three consecutive numbers. This makes the payout for a win 11 to 1.
- Corner Bets– The corner bet is the same as a split and street bet, except you are betting on four consecutive numbers and the payout is 8 to 1.
Outside bets are the ones you place on the outside of the roulette table area. No winning outside bets exist for the 0 or the 00 slots. Outside bets have lower payouts because the odds of winner are greater.
Types of Outside Bets:
- Dozen Bets– When making dozen bets, you bet on a column of numbers that are divided up into three sections which are 1 through 12, 13 through 24 and 25 through 36. Payout is 2 to 1 for this bet.
- Red or Black Bets– This is a simple bet with a payout of 1 to 1 and all you do is choose if your number will be red or black.
- Low or High Bets– This type of betting requires you to bet on numbers divided into two groups. The low numbers are 1 through 18 and the high numbers are 19 through 36. Since you are betting on so many numbers, the payout is 1 to 1.
- Even or Odd Bets– This is essentially the same as the red and black bets except you will call out even or odd for your number. The payout is 1 to 1.
You can also play even money bets in which you win the amount you wager in addition to the amount you win on the actual bet. However, you can only place even money bets along with certain outside bets, which are the ones with the 1 to 1 payouts.