Found Low House Edge Roulette Wheel!

I need someone with advanced math knowledge to figure out the house edge on this wheel. It's an automatic wheel not a computerized screen wheel. $10 minimum but it's only $10 total. Any combination of inside or outside bets just has to equal $10. So for example what is the house edge if I bet $9.50 on red and split the 2 zeros with a $0.50 wager? This has to reduce the normal 5.4% house edge tremendously doesn't it? Or is it just my imagination? Thanks in advance for any help.

Quote: Seahawk97

I need someone with advanced math knowledge to figure out the house edge on this wheel. It's an automatic wheel not a computerized screen wheel. $10 minimum but it's only $10 total. Any combination of inside or outside bets just has to equal $10. So for example what is the house edge if I bet $9.50 on red and split the 2 zeros with a $0.50 wager? This has to reduce the normal 5.4% house edge tremendously doesn't it? Or is it just my imagination? Thanks in advance for any help.

Hint. How many red numbers: How many black: How many green: What's the paytable say?

HI Seahawk, and welcome to the forums.

Unfortunately, you don't lower the house edge when you hedge your bets... Hedging is covering other numbers to try to protect another bet (which is what you're referring to when covering 0 and 00 for 50 cents then betting 9.50 on black). The overall expected value of your spin is the summation of all of your bets and their respective house edges. So let's look at your example:

EV(next spin of roulette) = EV($9.50 on black) + EV($0.50 on 0/00 split).

EV($9.50 on black) = (9.50) * House Edge = (9.5) * (-.0526) = -$0.50

EV($0.50 on 0/00 split) = (.50) * House Edge = (.5) * (-.0526) = -$0.03

So, betting $9.50 on black, then $0.50 on 0/00 split, your Expected Value for the next spin is EV = -$0.50 + (-$0.03) = -$0.53

So how does this compare if you JUST bet $10 on black? EV($10 on black) = (10) * House Edge = (10) * (-.0526) = -$0.53... the same!

You don't lower the house edge when you hedge bets. Sorry to say it's just your imagination.

That's disappointing. Maybe not a mathematical edge but is there any benefit of not having to bet the table minimum on the zeros like you normally would when you place the minimum on an outside bet?

Quote: Seahawk97

That's disappointing. Maybe not a mathematical edge but is there any benefit of not having to bet the table minimum on the zeros like you normally would when you place the minimum on an outside bet?

No, not really =/. When 0/00 hit you'll win $8.50 and keep your $0.50 for the bet, so you'll have lost $1 overall. When black hits you'll win $9.50, but lose $0.50 for your 0/00 split, so you'll only win $9. To some exceedingly small extent you might be lessening your variance by lessening your losses and wins in each scenario (as opposed to just 1 table min bet)... but with this bet that's fairly negligible.

At that point though, being erroneous, if it makes you happy or you have more fun doing it, well then it doesn't hurt anything, so have fun doing it!

Quote: Seahawk97

So for example what is the house edge if I bet $9.50 on red and split the 2 zeros with a $0.50 wager?
This has to reduce the normal 5.4% house edge tremendously doesn't it?

let us see
18/38 * 9 (net 9 when a RED wins)
+
18/38 * -10 (when Black wins)
+
2/38 * -1 (0.50 *17 - 9.5 when a green wins)
= EV
and EV/10 = HE
one can complete this if so inclined

looks to "not even dent the house edge"
as an old-timer once has spoken

Quote: Seahawk97

Or is it just my imagination?

now that is worth the listen
what a voice!

I appreciate all the knowledge guys. I had just never come across a table where the minimum bet could be combined from inside and outside bets. For me putting $11 on red and $1 on zeros and showing a profit as long as it's not black is more entertaining for me although as I know now not any more advantageous. Also since it's an electronic wheel I don't have to play every spin and can pick my spots. And even with my amateur knowledge I know skipping spins is saving me money!

Quote: Seahawk97

For me putting $11 on red and $1 on zeros and showing a profit as long as it's not black is more entertaining for me although as I know now not any more advantageous.

And that's all that matters. What you're doing is no worse than any other method in terms of house edge; in fact, you're able to bet less than you might on a regular game. More fun for less money is definitely good for you.

Skipping bets is +EV if they serve free drinks.