By knowing the various types, you will be able to identify in the blink of an eye which roulette wheels you should play and which ones to avoid. For example, for slot machine enthusiasts it is certainly an advantage to be aware of the so-called RTP (Return to Player) percentage of the various games, so that you can focus more on the online slots that pay the most and thus have a better chance of winning.
Knowing the odds of a game is essential, but delving into it a little more gives you an extra edge. Look at odds tables, read books, read stuff on the internet. When you start out, read everything you can get your hands on (or rather your eyes on) on the game of your choice.