Yes, you can calculate the odds and payouts for every type of bet you place. In fact, you don’t need to, as this has already been calculated for you for all main versions of the game. For example, we know that the odds of a straight bet in European roulette turning successful are 2.70%, but then again, the payout is 35:1, the biggest a roulette wheel and game have to offer. Similarly, an outside bet has a 48.60% in European roulette, but only 1:1 payout value.