CRAPS
OFFER THE BEST ODDS IN A CASINO
The craps odds bet is the best bet in the casino because
there is no house edge. The bet is not listed on the
craps layout but knowledgeable craps players know all
about it. Here is how it works. After you make a passline
bet, the casino allows you to make an additional bet
known as the odds bet. This bet is placed behind your
original passline bet on the craps layout. When a shooter
makes his point, you are paid even money for your passline
bet but you are paid true odds for you odds bet.
If the point is 4 or 10 you are paid 2 to 1.
If the point is 5 or 9 you are paid 3 to 2.
If the point is 6 or 8 you are paid 6 to 5.
Most casinos allow you to take double odds on you passline
bet. That means if you put $5 on the passline, you would
be allowed to make an odds bet of $10.
Your passline bet has a house edge of 1.41 percent. When
you make an additional odds bet, which has no house edge,
you lower the house edge on your passline bet. A passline
bet with single odds has a house edge of 0.85 percent
and with double odds the edge is 0.61 percent.
Over the last few years, many casinos have been allowing
the players to take larger odds bets. Some casinos were
actually competing with each other to see who could
offer the highest odds. Some casinos were offering 100
times odds. Although this sounds great, it is unpractical
for average players if they do not have a big bankroll.
It also takes time for the dealers pay off the bets
when everyone at the table is making many different
odds bets.
4, 5, 6 Times Odds
The casinos are always looking for ways to speed up
the game. Some casinos have incorporated a clever way
to do this by varying the amount of odds a player can
take. A player is allowed to take three, four or five
times odds, depending on the point number.
If the point is 4 or 10 you can take 3 times odds
If the point is 5 or 9 you can take 4 times odds.
If the point is 6 or 8 you can take 5 times odds.
Look at this example for a $5 passline bet using these
odds. Look at the chart below.
When you take full odds, you are paid $30, no matter
what the point number is. This speeds up the game and
makes it easier for the dealers and the players. You
don't have to take full odds, but it's a good bet to
do so.
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