Apr 12, 2004 He Bets Life Savings, Wins $270K April 12, 2004 / 9:05 AM / CBS/AP A man who put his life savings on the line took home $270,600 in a double-or-nothing roulette wheel gamble at the Plaza Hotel. All right I saved the best betting system for last but I have to tell you that you won’t find this option at most roulette games. That’s sad because it really helps the savvy player hang in the game. On the even-money bets of red/black, odd/even, and high/low some casinos will only take half your bet on these should the 0 or 00 hits. The two main types of bets are “inside” and “outside”. There are different betting limits for each type of bet. Usually you can bet much higher on outside bets. This is for a few reasons, but mainly because the payouts are much higher on inside bets. The Types of Roulette Bets, Roulette Odds and Chip Placement.
In possibly the most famous bet of recent years, a 32 year old Ashley Revell from Kent sold all of his worldly possessions to bet everything he owned on the roulette table in Vegas. The grand total of his possessions came to £76,840, which gave him around $135,300 in total to bet with on one spin of the roulette wheel.
Placing His Bet At The Table
Before making his bet, Ashley was questioned about whether he was completely happy to make the bet, to which he affirmed his decision.
As the ball was spun, Ashley pushed his chips onto red, and claims that the decision of which colour to choose was made right at that moment. As the ball bobbled around the wheel, it finally came to rest in the 7 Red slot, doubling his winnings to $270,600.
Ashley had literally sold every that he had owned to make the bet at Vegas, and even had to hire a tuxedo to wear to the Casino on the big day. The reason behind making such a gamble was that Ashley was prepared to start out afresh, and so the big gamble seemed to be the perfect opportunity to either get a financial boost, or to take the opportunity to start out from scratch with a new start in life.
Bet On Black Roulette
The big gamble was documented on Sky One, with the big finale being shown with a slight delay to the public from the Casino in Las Vegas. It was not possible to show the live result of the bet, as it is prohibited by the Wire Act to use a wire communication facility to air such betting activity to another state or country.
Where To Play Roulette For Such Big Stakes
It was surprisingly difficult to find a Casino in Vegas to take up such a large bet, as many Casino's simply refused to play host to such a big gamble. I'm assuming that many Casinos would not want to be tagged with the idea that you can lose everything you own by playing roulette, and so decided to play it safe and not host the bet.
In fact, the original Casino that Ashley was going to use for the gamble pulled out a few days before, which meant that a new Casino had to be found quickly in time for the airing of the bet on Sky One. Eventually, the high stakes bet was taken up by the Plaza Hotel and Casino.
Beating The Roulette Wheel
After the win, Ashley was greeted with a bottle of champagne from his family, and tipped the croupier with a generous $600.
Many of the onlookers wanted to see Ashley gamble it all again, but he simply took his winnings and headed back to the UK.
After the big win, Ashley said:
- 'That was just the most amazing experience I have ever had in my life.'
- 'The first thing I am going to do is buy some new clothes, some sunglasses, obviously!'
- 'It was just wicked. I can't describe my feelings going through that.'
- 'It has just been a complete sort of roller coaster ride. First it's on, then it's off.'
Life After Roulette
With the winnings, Ashley set up his own online poker site pokerutd.com. However, the site doesn't seem to be doing too well, so it's not exactly known what he's been doing for a living since.
Although, Revell was quite the avid poker player, and so may well be trying to make a success of being a professional poker player. But in spite of this, we can be sure that we won't be seeing him making any big roulette bets any time soon:
“But you know, never again. I mean, that's -- it was mad.”
Knowing which type of bet to make is important for players who want to hodl their own at the roulette table.
Each table will carry a placard describing the minimum and maximum bets at the table. For example, it might read, 'Roulette. $5 minimum inside bets, $5 minimum outside bets. $1,000 maximum outside, $100 maximum inside.' Table maximums usually are lower on inside bets because of the higher payoffs offered. The odds are exactly the same as on outside bets, but most casinos are loath to risk losing $35,000 at one shot on a $1,000 bet on one number.
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Though the listed minimums for inside and outside bets are likely to be the same, they don't mean the same thing. A player betting the $5 minimum on inside bets is allowed to spread five $1 chips around on different bets on the inside. However, the minimum for outside bets means the player must wager the entire $5 on each outside bet. Betting $1 on evens, $1 on red, $1 on the first 12, $1 on the first 18, and $1 on the first column doesn't satisfy the minimum.
The player may make any of the bets by placing a chip or chips on the appropriate spot. However, the size of the table may make it difficult to reach some betting areas. To place a bet you can't reach, put the chips on the table and ask the dealer to put them on the desired bet for you. If you aren't sure how to make outside or inside bets, check the information below.
Outside Bets
Red or black: There are 18 numbers with red backgrounds and 18 with black backgrounds. A bet on red pays off if the ball stops in the slot by any of the 18 red numbers; a bet on black pays off if the ball lands on any of the black numbers. A winning red or black bet pays even money -- the player keeps the original bet and gets an equal amount in winnings.
Odd or even: Another even-money bet. The player is betting that either one of the 18 odd numbers (1, 3, 5, and so forth) or one of the 18 even numbers (2, 4, 6, and so forth) will be chosen.
1 through 18, 19 through 36: Also for even money, a bet on whether the ball will stop on any of the first 18 numbers or any of the last 18 numbers.
The house gets its edge from 0 and 00 -- they are neither red nor black, neither odd nor even, neither part of the first 18 nor the last 18. If the ball lands on 0 or 00, all even-money bets -- in fact, all outside bets -- lose.
In casinos offering a French wheel with the en prison rule, the player does not lose an even money bet when the 0 comes up. Instead, the bet is 'in prison' -- the player does not lose the wager, but it remains in effect for the next spin. If the bet wins on the next spin, it is released, and the player may pull it back. The bet may not remain in prison on consecutive spins -- a second consecutive 0 makes the bet a loser. This is a very favorable rule for the player, and one that is rare in the United States.
Dozens: Wagers on the first 12 numbers, second 12, or third 12 pay 2-1.
Roulette Bet Names
Columns: Wagers on any of the three columns on the grid pay 2-1. Because the grid is arranged in 12 rows of three consecutive numbers (1-2-3 is the first row, 4-5-6 the second, and so on), each number in a column is three higher than the one before.
Inside Bets
Single number: Bets on individual numbers, including 0 and 00, are placed by putting a chip or chips fully inside a numbered box. If a single-number bet hits, it pays 35-1. (Remember, however, that the true odds are 37-1.)
Split: This is a wager on two numbers, and it pays 17-1. Make a split bet by placing a chip so that it straddles the line between two numbers.
Street: A three-number bet, paying 11-1, is made by placing a chip on the line separating outside bets from the inside, indicating a row of three consecutive numbers.
Corner: A chip is placed at the intersection of a horizontal line with a vertical line inside the layout. This indicates a bet on the four adjacent numbers, and it pays 8-1.
Five-number: For the worst bet on the table, place a chip so that it lies on the line separating the inside from the outside, while straddling the horizontal line between 0-00 and 1-2-3. This bet pays 6-1 and carries a 7.89 percent house edge. The five-number bet does not exist on the French wheel because of the absence of 00.
Best Bet On Roulette Table
Double street: Just as on the street bet, place a chip on the line separating the outside from the inside, but let it straddle the horizontal line between two rows. That gives you six numbers in two consecutive three-number rows, and the bet pays 5-1.
Special note: Watch for your payoffs. On winning inside bets, most dealers will push the winnings to you but leave the original bet in place. After the dealer has finished payoffs and is ready for the next round of bets, it is up to you to move the original bet if you do not want to make the same wager. Some dealers will leave the winnings on the layout, and if you do not wish to bet it all on the next spin, you must remove it. It is common for the dealer to leave the winnings on outside bets next to the original bet. It is up to you to move the chips when the dealer is ready.