I think it's a $2 minimum, inside or outside bets, but I could be wrong. I assume you could use your matchplay on any even-money bet. However, why would you want to bother--you're still fighting a 2.70% house edge. You're better off using it at craps or blackjack.
The Red 7 promo, which ends on the 8th, actually gives the player a small edge. That's kind of historic as far as roulette goes. Casino greed killed roulette in Nevada a long time ago. Whoever came up with the double zero ruined it.
I've always been amazed by roulette's popularity in Europe. With craps or blackjack, the house edge isn't staring you in the face. With roulette, you can clearly see that if you bet on red, black, odd, or even, there are 18 ways to win and 19 ways to lose--it's right there on the layout! A child could understand that it's impossible to win in the long run. Also, the game has acquired some faux cachet as a pastime for the rich and elegant--when in reality, it's a stupid exercise as brainless as that other popular European game, baccarat. Oh well, people watch celebrity wrestling, too.