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Even/Odd (even or odd) bets are a type of outside roulette bets where you are wagering on if the number hit will be either even or odd. This type of bet is considered to be an even money bet. Both 0 and 00 are not considered to be either even or odd and this is where the house edge is found in these bets. To place this type of wager, you simply put your bet in the box marked "Even" or "Odd" on the roulette table
Since this is an even money bet, the payout is 1:1. If you place a $5 bet on even and the wheel
lands on 10, you will be paid $5, in addition to getting your original bet back.