Red / Black - 1:1 (48.65%). A color bet is a very popular bet, and gives odds of 1:1. So lets say for example you bet $5 on red, and after spinning the wheel . The odds of hitting red or black in American roulette are 47.4%. This rises slightly in European roulette, to 48.6%. In both cases, your roulette winnings would . What is the expected value for playing roulette if you bet on red?. Calculation of Expected Value We use the above information with the formula for expected value. Since we have a discrete random variable X for net winnings, the expected value of betting $1 on red in roulette is: P(Red) x (Value of X for Red) + P(Not Red) x (Value of X for Not Red) = 18/38 x 1 + 20/38 x (-1) = -0.053. In European Roulette, a straight bet gives you a 2.70% chance of winning or odds of approximately 35:1; A red/black bet pays 1:1 but its chance .

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Red or Black: Which Should You Bet On In Roulette?

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