Online Gambling Basics Through Single Number Roulette BetBy: Joan Peppin, Friday May 5th 2017
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If you are a new online roulette player you may have wondered what happens if you put a chip on every number on the layout. You need not try this out because this article will take you through the exercise. Along the way some core concepts of online gambling will be explained as well.
European Roulette is the most dominant online roulette variant and is being considered here. There are 37 spots on the layout, being 0 and the numbers from 1 to 36. If you bet $1 on each spot your total outgo is $37. You are assured of winning one and only one single number bet. The payout is at 35 to 1. This means that you win 35 times your stake on the winning bet and are returned the winning bet. All losing bets are forfeited. So you will end up with a win of $35 and get back $1 as the bet on the winning number. You end up with an inflow of $36. You will end up losing $1 even if you have all based covered. This concept is referred to as the house edge and it is built into every bet of every online casino game. The online casino needs funds to meet its costs and the house edge provides. Expressed as a percentage the house edge for this bet is 2.7%. Any bet in online roulette will have this house edge.
What happens if you place a chip on 36 out of the 37 numbers? The outcome is summarized. You have a 97.3% chance of one of your numbers being called but will end up without winning or losing any money. There is a 2.7% chance of the number left out being called, in which case you will lose $36. Again this is a losing proposition.
If you bet on 35 of the 37 numbers, there is a 94.6% chance of winning $1 on an investment of $35 and a 5.4% chance of losing $35. This is known as a low variance bet in online gambling terminology. It has a high chance of winning but offers a low return. If we move to the other extreme and bet on only one of the 37 numbers. There is a 2.7% chance of winning $35 on an investment of $1 and a 97.3% chance of losing the investment. This is a high variance bet that offers high payout with a low chance of winning. Each online roulette player will have their own acceptable level of risk and return. By choosing the appropriate numbers to bet on, they can achieve the desired variance level.
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