I understand your wheel is for box singles as I don't see doubles in it (singles & doubles have different wheels). You wheel all 10 numbers and the full wheel for that has 120 combinations, so your wheel, with only 60 combinations, belongs to the abbreviated category.
As you say, theoretically you do have 1 in 2 chance of hitting a box single provided doubles do not mess up you score. Moneywise, however, such a wheel puts you in a loosing situation as you cannot generate a profit even if you do hit every other time.
Personally, I never believed in abbreviated wheels. The purpose of a wheel is to GUARANTEE a win if you match certain numbers. Full wheels cost more but have this guarantee. Abbreviated wheels still cost extra money but do not guarantee the win. For that reason I never use them.
I find much more economical using full but smaller wheels, 8-number wheel being my favorite. I takes only 56 combinations.
Having said all this, my backtracks tell clearly that wheeling for singles only is not likely to generate winnings and profits on consistent basis. The money is in doubles. 8-number wheel for doubles also takes 56 combinations. But it is 10 times easier to match 2 numbers (for a double) out of 10 than 3 out of 10 (for a single). And doubles pay twice as much money.
For the 8-number wheel the average scoring ratio is 30-50% for singles while for doubles it's in the range of 70-90%. Easy to see where the money is.
Aquarius