Comment House Edge, even bets, and the Gambler's Ruin (Score 1) 219
Actually, outside bets have a slightly lower house edge than all other bets on a European Roulette table, because if 0 comes in you back half of your outside-stake bet. So you have 18/37 chance of losing your bet, 18/37 chance of doubling your bet, and 1/37 chance of losing half of your bet. I think that halves the house edge. If they returned your entire bet, then the game would be even. But of course they won't do that. ;) I have never played at an American casino, so I don't know if similar rules apply there.
Regardless of odds and house edges, the casinos do tend to have another advantage: overall, they usually have more money than the players. Generally in a gambling game, if either party runs out of money the game must stop. Since the casino has so much more money than the average punter, there's a much higher probability that the punter will run out of money first, regardless of the specific odds and house edge (if any) of the game.
Regardless of odds and house edges, the casinos do tend to have another advantage: overall, they usually have more money than the players. Generally in a gambling game, if either party runs out of money the game must stop. Since the casino has so much more money than the average punter, there's a much higher probability that the punter will run out of money first, regardless of the specific odds and house edge (if any) of the game.
