The roulette table is just a mathematical probability formula that tells you how much you bet and how many balls to throw, and thus, how likely it is that you’ll hit the next number on the table. It’s just a little more complicated than that than most people realize.
There are four numbers on the table. These numbers are also called the odds—they tell you what chance of hitting the next ball are you facing. That’s what’s known as the “odds of hitting the next ball.” It doesn’t explain exactly what will happen, but it gives you a better ballpark.
We know that the odds are 50:50 of hitting the three balls, but the odds are also given, more generally, as 1:1, and the odds for the four balls are equal to those of the three that you’ve hit.
You need 50/50 odds—meaning just 50 percent of the time you have a chance of hitting those four balls—to hit them. So the odds I’ve given you are 50/50—or 50/50 if you’re familiar with probability and probability theory or about odds of numbers.
Now, if you’re betting on some numbers, some of them are actually going to get hit just 50/50, but this is a good strategy to use—and there are actually a lot of people who play this type of roulette table for this reason, so it’s not like it’s something you normally only do if you’re playing with people you know, and this is a very effective strategy.
Let’s say you’re playing with a friend, who says you should bet on a set of 4 balls. This is like betting on any number between 1 and 1000, but the idea is to bet whatever the chance is that you’re hitting the fourth ball. The odds are also 50 percent of being able to hit the 4 balls.
You’ve won a chance at success by betting on a set of 12 balls. If you bet on 1 through 1000, you get a chance at 50 percent, so you should be willing to pay a fair price for this number—but you may not want to buy it outright, because what you’re not really getting is a winning probability, and that’s where a game theory approach comes into play.
With game theory, you are thinking: “How unlikely or unlikely is it that I’m going to hit the 4 balls? I’ve got a 50/50 chance at some of them, so how
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