Complex sentence: Even money bets do not mean you can't lose, like betting red or black bet on roulette, the presence of the green 0, and even the 00, means that statistically you will lose more than 50% of the time.
Split into simpler sentences: Even money bets do not mean that the bettor can't lose, like betting red or black on roulette. The presence of the green 0, and even the 00, means that statistically the bettor will lose more than 50% of the time.