The short answer is yes, but it makes no sense whatsoever to do so and that's because of the house edge. The highest paying roulette bet is on a single number, as it can trigger wins equal to 36 times the stakes.

A bet on a single number pays 35 to 1, including the 0 and 00. Bets on red or black, odd or even pay 1 for 1, or even money.