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The even-odd bet in Roulette is yet another type of bet that you can employ when you are at the Roulette table in a casino, online or traditional. The Roulette even-odd bet is an outside bet, meaning that there is more protection for you as a player when you opt for this bet, but lesser odds, which means there are more chances of your winning, but the amount you win would not be too high, unlike in the inside bets where the odds are really high in some cases.
Basically, in the Roulette even-odd bet, you bet on whether the number that the ball would eventually land on would be an even or odd number. This bet is, in a way, similar to the low and high numbers bet that you read about in another article - this is another bet where you get to cover half the numbers on the Roulette table in a single bet. The difference is that while in the low and high numbers bet you can bet on the first 18 or later 18 numbers at one go, here you bet on the 18 odd numbers or the 18 even numbers.
How do you place the even-odd bet in Roulette? The chip position for this bet is also unique. To place the Roulette even-odd bet, you must first decide whether you want to bet on the even numbers or the odd numbers.
If you decide to bet on the even numbers, you need to place your chip(s) in the box marked ‘EVEN’ on the table. This box is located next to the box marked 1-18, at the bottom left of the table. If you decide to bet on the odd numbers, you need to place your chip(s) on the box marked ‘ODD’ next to the 19-36 box at the bottom right of the table.
Finally, we come to the two other critical aspects of the Roulette even-odd bet – the odds and payout involved as well as the advantage that the casino holds over you as a player. Coming to the odds and payout involved, the Roulette even-odd bet pays, like the low and high numbers bet, even money when you win. What this means is that if you bet $10, a win gives you an additional $10 apart from the $10 that you bet.
The advantage that the casino enjoys over you in the Roulette even-odd bet is the same as in other bet types – 5.26% for a table with double zero wheels and 2.70% for a table with single zero wheels. However, using this bet along with other rules like the half back and the en prison can reduce the house advantage significantly for both American as well as European Roulette.
In American Roulette, using the Roulette odd-even bet in conjunction with the en prison rule reduces the house edge gives a house edge of 1.39% while using it with the half back rule brings it down to 2.63%. In the case of European Roulette, using this bet together with the half back rule brings down the house advantage to 1.35%.