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When you bet on one specific number, the true odds of winning are 1 in 38. There are 38 numbers on the wheel: 1 through 36, a 0, and a 00. In this situation, for every $38 wagered, the casino expects to keep $2 on average. This difference is where the house edge comes from. This translates to a house edge of 5.26% ($2 divided by $38). However, if you win, the casino only pays you out at 35 to 1.
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