The even money bets in roulette are probably the most popular bets on the table. Who hasn't heard of the expression "you may as well stick it all on the red". Well, that would be an even money bet.
They are called even money bets, because they pay out at 1:1, that's to say, if you bet $100 and win, you win $100, plus you get your stake back (so $200 returned in total). Even Money Bets sit within the so called Outside Roulette Bets, which also include the dozens bet and columns.
The table above shows a $100 Even Money Bets on Red on a French Roulette table
The even money bets include:
But careful! Even money doesn't mean you have a 50/50 chance of winning when you place these bets. That's because of the zero pocket which take the house edge up to 2.6% in European Roulette which has one zero, and 5.2% in American Roulette which has 2 zeros. So your odds are 47.4% on European and 44.8% on American.
Hopefully, if you have just digested that last sentence, you will have had a "eureka moment", but then you probably know this already. Always play European roulette if you can, rather than American roulette. the odds are better. In fact, some variants (notable French Roulette games) will give you half of your bet back if the ball lands in the zero pocket after you have made an even-money bet. This is "La Partage" rule, and it cuts the house edge down even further to 1.3%, Which is bad for the casino and good for you!
You can also cover the same amount of table with combinations on Chip Bomb bets, by the way, which helps if you like to mix things up and switch between bets. Play two 9 chip Chip Bombs (middle column number, no overlap).
The even money bets really come into play for many systems like The Martingale, the Fibbonacci and the Labouchere. The Hollandish roulette system, which is less aggressive, also uses the even money bets. You are covering a decent part of the table, without hedging your bets too much. We like to switch around between the different even money bets when playing these systems (the so called Martingale Switch system). It doesn't change your odds, but I guess we are superstitious! There's no harm in mixing it up a bit. These kinds of bets also come in handy for some of the positive progressions like the 1326 and the Reverse Fibonacci.
The Best Casino and Variant to play even money bets in roulette?
Well, the even money bet is such a fundamental bet, that this is almost like a generic "which casino and variant is best for roulette?" question. We'd plump for the games at Royal Panda (play European Roulette Gold) or if you are a high stakes player, we'd go for Premium French Roulette.