Understanding Roulette is more about knowing how to change the 'unchangeable' house edge. The first rule you should look for at the casino is called 'surrender', which applies to outside bets on red or black, odd or even, or on the high or low bet. If the ball lands on a 0 or 00, a player only loses half of the wager. Correspondingly, the house edge is reduced, but so are any potential wins.
It is important to understand the difference between tables with double zero pockets and tables without. With only 37 pockets on the wheel without the double zero, this simple change drops the house edge on all bets while payoff rates remain unchanged.