What are the gambling odds for this game of chance?

[Oryan77]

I'm trying to simulate a roulette game that has 1000 squares (results).

If a player places a bet that the ball lands on any of the 100's squares (100, 200, 300, etc, etc), but within each of those squares is still a 50/50 chance that it still loses, what kind of odds would that be? How much would he win depending on how much he bet?

 

[pogre]

100, 200, 300, 400, 500, 600, 700, 800, 900, 1000 = 10/1000 = 1% divided 1/2 = 0.5% chance of winning
A Pure payoff would be 200 to 1 I believe. Gambling games do not have pure payoffs though.

If nothing else my erroneous math will get some to jump on here and give the correct answer!

 

[Nagol]

Your question is a bit unclear to me. If by 100s squares you mean squares evenly divisible by 100 then pogre has your answer.

If you mean a square that encompasses all #s in that range -- 100-199 for example, then there is a 20:1 payout (10% of possible results in a square, halved yields 20:1). Typical house skims ~3-10% (think of the green squares in roulette; there's 1 to 3 greens, 18 red, and 18 black) so a typical payback would be 4.5%.

 

[Kerberos1976]

This question is a little unclear so if you could clarify that would help a bit, but if there are 2 distinct events within this "game" then the odds, I believe are:

1/100 * 1/2 = which is 0.05% of a chance.

 

[idella76]

This question is a little unclear so if you could clarify that would help a bit, but if there are 2 distinct events within this "game" then the odds, I believe are:

1/100 * 1/2 = which is 0.05% of a chance.

looking at this, yes same understanding exactly - similarly 0.05% chance.