Understanding Even Money Bets

An even money bet means that if you place a bet and win you'll receive your stake back and winnings of the same value of that stake. The odds for an even money bet can be written in a few different ways:

• Fractional – 1/1
• Decimal – 2.0
• Moneyline– +100

Even money bets are sometimes referred to as 50/50 bets, but this is more relevant when talking about sports betting than roulette. As we'll see later, the odds associated with even money bets aren't usually 50/50 in the casino.

Even Money Bets In Roulette

Roulette has more even money bets on offer than the average casino game, and those bets are as follows:

• Red/Black
• Odd/Even
• Hi/Lo, sometimes written as Manque/Passe–in French roulette–or 1-18/19-36

Because of the very simple nature of even money bets, they're favoured by beginners but you'll also find experienced Canadian players watching for streaks and placing even money bets.

French roulette with the En Prison rule is fairly rare in American and Canadian casinos, but it can be useful if you're placing even money bets when you play roulette online. When the rule is in play, players don't lose even money bets if the result is a 0. The bet remains in effect for the next spin and players can retrieve it, but no extra winnings, if their bet is successful. If the bet loses or another 0 comes up, the player loses.

Even Money Bets Do Not Always Have 50/50 Odds

You'll sometimes see sites on the web giving betting on a coin toss as an example of an even money bet. However, this does not mean that every even money bet has odds of 50/50.

In European roulette, for example, even money bets have odds of 47.4% because of the green 0 slot. In American roulette, this falls to 44.8% because of the addition of the 00. The coin toss may be a helpful analogy for first-time players, but don't let it lead you to believe that all even money bets are created equal.

"Canadian roulette is simple to learn, though it has many different betting options, but it takes time and dedication to truly master the game."

Advantages Of Even Money Bets

The most obvious advantage of placing even money bets is that you have a fairly good chance of breaking even or maybe even making a little profit if you manage your bankroll so that you can play for a long time. This is because wins and losses typically even out the more you play.

True, you probably won't make your fortune like you might playing the slots but, if you enjoy the act of gambling itself and/or the thrill of winning real money, even money bets certainly have their appeal. In a real-life casino this is even more beneficial because the longer you're sat at a table, the more likely you are to receive some free drinks!

When To Place Even Money Bets

In many ways, even money betting is the antithesis of playing the slots. It's slow-paced, requires skill or at least some thought and willingness to put in time and effort to build your bankroll. If you gamble in the hopes of it being a get rich quick scheme, even money betting probably isn't for you.

However, if you're not afraid of some slow, methodical play then even money bets will more likely than not see you outlasting players at the roulette table placing inside bets.

Even money bets are as popular today as they've always been, and that's very unlikely to change. The majority of players are attracted to table games like roulette because of its measured style of play. If they were in it to win big quickly, they'd probably be pulling the arm of a slot machine instead.