Everyone goes gaga over the roulette wheel and the roulette table but the sensible players always lay stress on roulette odds. Roulette odds clearly define the chances to win or lose. Betting in roulette has its risks and the better you understand the odds the better you can take risks.

Due to the house edge difference between American and European roulette wheels the odds are slightly better in the latter. The American roulette wheel has 38 slots while the European wheel has 37 slots. This is due to the presence of 00 in the American wheel. The house edge in an American wheel is 5.26% compared to 2.70% in a European wheel.

Given below is a comparison of odds between the American and the European roulette wheels.

For a straight bet the odds in an American wheel are 2.63% and in an European wheel are 2.70%. Payout is 35 to 1.

For a split bet the odds in an American wheel are 5.26% and in an European wheel are 5.40%. Payout is 17 to 1.

For a street bet the odds in an American wheel are 7.89% and in an European wheel are 8.10%. Payout is 11 to 1.

For a square bet the odds in an American wheel are 10.53% and in an European wheel are 10.80%. Payout is 8 to 1.

For a column bet the odds in an American wheel are 15.79% and in an European wheel are 16.20%. Payout is 5 to 1.

For a dozen bet the odds in an American wheel are 31.58% and in an European wheel are 32.40%. Payout is 2 to 1.

For high bets, low bets, even bets, odd bets, red bets and black bets the odds in an American wheel are 46.37% and in a European wheel are 48.60%. Payout is 1 to 1.

There is an additional five number bet that can be made on the American wheel where bets are made on a combination of 0, 00, 1, 2 and 3. The odds are 13.16% and the payout is 6 to 1.

As you can see the odds are reversely proportional to payouts. The more risks you take the more you get paid. This is something that has to be kept in mind when betting roulette. Understanding the odds is something one has to do first because this is basic as far as the game of roulette is concerned.