Published on October 7, 2016 by The Daily Reckoning
There are a total of 36 red and black chips in a standard roulette wheel. These chips are worth either 1 or 0 points, respectively. Roulette is a game of chance in which players bet on the number that will be revealed next as the result of a spinning wheel. The house edge for roulette is about 1.
5%. This means that for every 100 bets placed, the house will win about 155 times and lose about 45 times. So, if you bet $10 on red, your chances of winning are about 1 in 20. If you bet $10 on black, your chances of winning are about 1 in 5. .
In general, bets on red tend to be more profitable than bets on black. This is because roulette is a game of probability, meaning that the odds of something happening are always relative to how much you bet. In other words, if you bet $10 on red and the wheel lands on red 18 times in a row (a “run”), your chances of winning $100 would be greater than if you bet $10 on black and the wheel landed on black 18 times in a row (a “run”).
However, there are some rare occasions where the odds are exactly the same regardless of what color chip you choose to bet on. In these cases, it’s called “even money” and neither option has an advantage over the other.
