Roulette Odd or Even Bet

Roulette is a hugely popular casino game - mainly due to the large amount of different betting options it has available. Perhaps one of the most simple of these bets is ‘Odd or Even’, which is one of the various even-money wagers on offer.

What is an Odd or Even Bet in Roulette?

An Odd or Even bet in roulette involves the player predicting whether the ball will land on an odd or even number. As an outside bet, it covers a broad range of numbers, making it a popular choice for many players looking to place a balanced roulette bet.

How to Play Roulette Using an Odd or Even Bet

Placing an Odd or Even bet is very simple indeed. All you have to do is place your chips in the designated ‘Odd’ or ‘Even’ box on the roulette table. If the ball lands on a number that matches your chosen bet - odd or even - you will win.

Example of a Odd or Even: There are only two possibilities for this type of bet.

• Bet on Odd numbers : 1, 3, 5, 7, 9, 11, 13, 15, 17, 19, 21, 23, 25, 27, 29, 31, 33, 35.
• Bet on Even numbers : 2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22, 24, 26, 28, 30, 32, 34, 36.

Note that there are 18 even numbers and 18 odd numbers on a roulette wheel , but that there is also one or two zeros depending on the version of roulette.

Betting on both odd and even in roulette is forbidden : The rules of the game are designed to prevent players from placing bets that would cover all possible outcomes in such a way that they eliminate the risk and guarantee a win. Since odd bets cover all odd numbers and even bets cover all even numbers, placing bets on both would theoretically cover all numbered outcomes, excluding 0 (and 00 in American roulette). Allowing such bets would undermine the fundamental risk and reward structure of the game, so casinos do not permit placing bets on both odd and even simultaneously.

When to Place an Odd or Even Bet ?

• When Seeking a Simple Betting Option: Odd and even bets are straightforward and easy to understand, making them a good choice for beginners or players who prefer simplicity.
• When Favoring Even Money Payouts: These bets offer a 1 to 1 payout, meaning you double your bet if you win. This provides consistent, though moderate, returns, which can be attractive for players looking for steady winnings.
• When You Want a High Probability Bet: Each odd or even bet covers 18 numbers out of 36 (not counting the 0 or 00), giving you nearly a 50% chance of winning on each spin. This makes it less risky compared to other bets with higher payouts.
• To Implement a Betting System: Odd and even bets can be effectively used in various betting systems, such as the Martingale, D'Alembert, or Fibonacci systems, due to their even money payout.
• To Extend Playing Time: If you want to play for a longer period without risking large amounts of money, odd and even bets can help manage your bankroll better. The higher probability of winning helps maintain your balance over more spins.
• When Combining with Other Bets: Odd and even bets can be combined with other bets, such as high/low or red/black, to create a more diversified betting strategy. This can help spread risk and potentially increase your chances of winning on each spin.

Is Odd or Even Betting Profitable for Roulette?

The payout odds on offer for an Odd or Even bet are even money - 1-1.

The win probability for this bet is as follows:

• European Roulette - 48.65%
• American Roulette - 47.37%

The house advantage is an important factor to consider here, with it accounting for 2.7% in European Roulette and 5.26% in American Roulette.

Is there a strategy based on Odd/Even bet at roulette?

There are several strategies specifically based on odd or even bets in roulette. These strategies take advantage of the even money payout. Here are a few popular strategies:

Martingale Strategy with Odd/Even Bets

The Martingale strategy involves doubling your bet after each loss to recover previous losses and gain a profit equal to the original bet once you win.

How to Apply:

1. Place an initial bet on either odd or even (e.g., $10 on odd).
2. If you lose, double your bet on the same option (e.g., $20 on odd).
3. Continue doubling your bet after each loss until you win.
4. After a win, return to your original bet amount.

Example:

1. Bet $10 on odd. Lose. (-$10)
2. Bet $20 on odd. Lose. (-$30)
3. Bet $40 on odd. Win. (+$40)
4. Go back to betting $10 on odd.

D'Alembert Strategy with Odd/Even Bets

The D'Alembert strategy is a more conservative approach than Martingale, involving increasing your bet by one unit after a loss and decreasing it by one unit after a win.

How to Apply:

1. Place an initial bet on either odd or even (e.g., $10 on even).
2. If you lose, increase your bet by one unit (e.g., $20 on even).
3. If you win, decrease your bet by one unit (e.g., $10 on even).

Example:

1. Bet $10 on even. Lose. (-$10)
2. Bet $20 on even. Lose. (-$30)
3. Bet $30 on even. Win. (+$60)
4. Bet $20 on even.

Reverse Martingale (Paroli) Strategy with Odd/Even Bets

The Reverse Martingale strategy, also known as the Paroli strategy, involves doubling your bet after each win to maximize winning streaks.

How to Apply:

1. Place an initial bet on either odd or even (e.g., $10 on odd).
2. If you win, double your bet (e.g., $20 on odd).
3. If you lose, return to your original bet amount.

Example:

1. Bet $10 on odd. Win. (+$20)
2. Bet $20 on odd. Win. (+$40)
3. Bet $40 on odd. Lose. (-$40)
4. Go back to betting $10 on odd.

Fibonacci Strategy with Odd/Even Bets

The Fibonacci strategy involves betting according to the Fibonacci sequence, where each number is the sum of the two preceding ones. This strategy can be used with odd/even bets to manage losses and seek recovery.

How to Apply:

1. Place an initial bet according to the Fibonacci sequence (e.g., $10 on even).
2. If you lose, move to the next number in the sequence (e.g., $10, $20, $30, $50, etc.).
3. If you win, move back two numbers in the sequence.

Example:

1. Bet $10 on even. Lose. (-$10)
2. Bet $10 on even. Lose. (-$20)
3. Bet $20 on even. Lose. (-$40)
4. Bet $30 on even. Win. (+$60)
5. Move back two numbers in the sequence, bet $10 on even.

Pros of Odd or Even Bet:

• It covers almost half of the roulette wheel’s total numbers
• The rules are very simple, which makes this a popular bet for beginners

Cons of Odd or Even Bet:

• The payout is comparatively low
• The house advantage means that the player is expected to lose over the long run

Conclusion

The Odd or Even bet in roulette is an enticing option for players who are seeking a straightforward bet that covers a broad range of numbers. Offering a payout of even-money and almost a 50% win chance, it’s easy to see why this is one of the most popular bets placed on a roulette table.

Try out this betting strategy at the best casinos to play roulette.