In every process that you handle to accomplish a certain thing, learning the rules and regulations is an important strategy. It helps you to follow every step, and by doing so, you will be increasing the chances of doing it right. Whiles playing online bingo, you are also required to learn all the rules from the start of the game to the end.
The understanding of the classic casino games such as Roulette also helps you know how to place the bets (inside/outside) while playing which makes you closer to winning the game. That will save you from losing money from miscalculated house advantages, or save you the embarrassment of pressing charges or claims for money that you don't deserve. Here is an explanation of what the house advantage is in the European version of Roulette, and how it is calculated.
House Advantage and Player Payout Percentages
For starters, you need to understand that different bets attract varying levels of risks. You will hence understand the advantages of playing Roulette, where you can mitigate the risks to win if you play correctly. You, however, need to understand the payout percentage on every bet and the house advantage to be taken.
House Edge Maths
In a nutshell, a house edge is the percentage of every bet, which the online casino takes. If the house edge is high, then it will be less advantageous for the player. It's a bit tricky to calculate the house edge for some other online casino games. In the case of online Roulette, however, the calculations are fairly simple. At Sailor Bingo, the most simple bet that you can place is a single bet. It allows for a bet to be placed on numbers 1 through 36, and on a zero too if you wish. A simple bet of £1 will fetch £35 when a player wins, and after a loss, the £1 will be fortified. A Roulette offers you 37 possible winning outcomes, of which you can only win on just one outcome. The chances of winning are therefore 1:37 – 0.027. Based on the 37 probable outcomes, the probability of losing is 36:37 – 0.973
The Calculation of The House Edge
A £1 bet is calculated as follows. (35×0.027) - (1×0.973) = - 0.027. In that case, every single number bet worth £1 is expected to lose £0.027 when you look at it from the casino perspective. The casino hence retains the £0.027, which in percentage it's 2.7%.
You might also decide to go with a corner bet. It usually wins an x8 payout, which is a total of 4 in 37 times. It loses an x1 bet on a 33:37 ratio. Try repeating the process with other bets, and you will certainly get the same percentage of 2.7%. This is the house advantage regardless of the amount that you will bet. The house will, therefore, be taking a constant percentage of all of your winnings.
Playing European Roulette is always safe because the house advantage will always be stable, and you can estimate the amount that will be taken from your winnings. Be a part of our Sailor Bingo today and start playing different variants of online Roulette, bingo games, online scratch cards and much more on the go!