In this segment Beef and Anton head to the roulette table in Vegas, and look at how it compares to spreads in the options world.
First they discuss the nature of the game roulette and what gives the casino edge. In fact if the payouts were different it would be what is considered a zero sum game.
Diving a little deeper they go on to discuss how spreads, specifically narrow spreads can compare to a roulette table. So the odds on these spreads can be easily computed. Just take 100 minus the delta and you get the approximate value.
If you are interested in how odds are made and how they can be applied to your trading check this segment out!