Inside versus outside bets

While playing roulette in an actual casino or online, you are bound to come across the terms "inside bet" and "outside bet" what exactly do these mean?
It is fairly simple, outside bets refer to the six bets that you have a fairly high probability of winning but offer low payouts.
Inside bets refer to the six bets that have high payouts but are also long shots.

• 1 to 18, otherwise called a "low" bet - you win this bet if the ball lands on a number between 1-18, the payout is 1:1.
• 19 to 36, otherwise called a "high" bet - you win this bet if the ball lands on a number between 19-36. The payout is 1 to 1 as well.
• Red/Black bets - these bets are straightforward and payout 1 to 1
• Even/Odd bets - this is also a straightforward bet that pays out 1 to 1
• Vertical/Dozen bet - you can choose 1-12, 13-24, 25-36. This bet pays out 2 to 1
• Column bet - you have three columns [2/5/8/11… for example] to choose from. This bet pays out 2 to 1 as well

• Straight bet - this is where you can bet on one single number. The payout is a hearty 35 to 1 you have the worst chance of winning this bet.
• Split bet - you have the opportunity to place your bet on two numbers sitting side by side. You win if the ball lands on either number. This bet pays 17 to 1
• Street/Trio bet - in both of these bets you are putting your money on three consecutive numbers. This pays out 11 to 1
• The corner bet is also available. You basically pick 4 numbers, on a square in the layout. If you win, you receive a payout of 8 to 1
• Lastly, there is the six line bet, this bet is like the trio bet, except you choose 6 numbers instead of 3. The payout is 5 to 1

There are two real differences between outside and inside bets. The first is obvious, when you wish to make a wager in roulette, you put your chips down on the table on top of the wager you wish to make. Outside bets are on the outside of the table while inside bets are further inside the table. The second difference is that inside bets offer much better payouts but far worse odds of winning. The house advantage is the same in roulette in both inside and outside bets, 2.6% in single zero roulette and 5.2% in double zero roulette.

If you play 100,000 spins of roulette you are bound to lose, before long, the odds will catch up to you. That is why I like to make inside bets compared to outside bets. There is significantly more variance in inside bets compared to outside bets which means you have a greater chance of beating the odds in the long run.

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