Even Money Bets are most commonly found in table games like Roulette. Examples include betting on Red/Black, Odd/Even, or High/Low (19-36).
While the payout is 1:1, it is important to note that the probability of winning is not exactly 50%. The presence of the green zero (or double zero in American roulette) gives the house a slight edge, making the true probability slightly less than 50%. This difference is the source of the House Edge on even money bets.
While the payout is 1:1, it is important to note that the probability of winning is not exactly 50%. The presence of the green zero (or double zero in American roulette) gives the house a slight edge, making the true probability slightly less than 50%. This difference is the source of the House Edge on even money bets.
Real-World Examples
Example in Roulette:
- Bet: £10 on Red.
- Win: You get £20 back (£10 stake + £10 winnings).
- Lose: You lose your £10 stake.
- Bet: £10 on Red.
- Win: You get £20 back (£10 stake + £10 winnings).
- Lose: You lose your £10 stake.
FAQs
Are there even money bets in slots?<br>No. Payouts in slot games are determined by the paytable and can range from a fraction of your stake to many thousands of times your stake. The concept is specific to certain table game wagers.