• The Pass Odds / Come Odds Bet Explained - Lol Craps
• See Full List On Crapspit.org
• Craps Table Odds And Payouts
• Craps Odds And Payouts

Their minimum bet is $5 and the maximum bet is $3000, but they have a maximum odds bet of $5000. Sam's Town has four craps tables. Main Street Station Craps Downtown. In downtown Vegas, the best odds craps can be found at Main Street Station, who offer 20X odds. The minimum bet there is $5, and the maximum bet is $1000. Players wanting to know the craps odds are likely to want to know the true odds on a wager. Using this data, a player can compare the real odds with the payouts to get a new perspective on the house edge. Craps Bet – Real Odds. Pass Line Bet – 251 to 244; Don’t Pass Bet – 976 to 949; Come Bet – 251 to 244; Don’t Come Bet – 976 to 949.

Let’s face it, as much fun as it is going to the casino and playing craps, winning at the craps table is a heck of a lot more fun than losing.

• The payout odds chart also shows that many craps bets hold a steep edge for the house, and should not be played unless one's goal is to lose money. The most likely outcome of the dice is 7, so you might logically deduce that this is a safe bet to make, right?
• The house edge on the 174:1 payout on the All Bet is 7.76%. If the payout is 175 to 1, then the house edge is 7.47%. If the payout is a lousy 150 to 1, then the house edge would be 20.81%. The odds of winning the All Bet is about 1 in 190.

To increase your chances of winning, and before you put your hard earned money down on the table, you should at least have a rudimentary knowledge of the odds, payouts and house edge for each of the bets on the table.

Before we get into the details, let’s get a couple of things out of the way first.

Nov 30, 2018 Craps: Odds, Payouts, House Edge Let’s face it, as much fun as it is going to the casino and playing craps, winning at the craps table is a heck of a lot more fun than losing. To increase your chances of winning, and before you put your hard earned money down on the table, you should at least have a rudimentary knowledge of the odds, payouts.

1. The casino always wins in the long run.
   • The casino’s revenues are built on the statistical probabilities of the outcomes, payouts and house edge of each of the bets in the casino and at the craps tables over the long term. (24/7, 365 days a year).
   • BUT… We’re only at the casino and at the craps table for a short period of time. (a day, weekend, week, etc.). You’re better positioned to take advantage of short term trends at the table and… sometimes you just get lucky! Advanced craps players can sometimes even flip some of the odds into their favor.
2. The casino’s advantage extends beyond the house edge.
   • In addition to the house edge on each bet, the casino is banking on the fact that most players at the craps tables don’t know how to play the game and don’t know the smart vs. not so smart bets on the table.
   • SO… By doing what you are doing right now, learning how to play the game well and understanding the probabilities and house edge for each of the bets on the table, you’re effectively reducing the casino advantage over you. Aside from becoming an advanced player, this is your best bet for leaving the tables and the casino, a winner.
3. While you’re at the tables, you’d might as well have some fun.
   • While most of my play is, and your play should be, centered around the smarter bets on the table, don’t forget that you’re there to have a good time. There is nothing wrong with throwing some dollars on the ‘not so smart’ bets when you want to. I do it myself from time to time if the table is slow and I’m looking for a little more action or when I’m playing with house money. As long as you’re making an informed decision… then go for it.

Now that we have that out of the way, let’s get to work on getting you to be an informed gambler at the craps tables.

Odds, Payouts, House Edge

So that you better understand the tables below, I’m going to give you a basic explanation of how the odds and payouts determine the edge that the house has over you.

Don’t worry, I wasn’t very good at math either and you don’t need to understand the formula above… I certainly don’t. All you need is the table below… it’s all figured out for you. If you’re looking for a deeper explanation there are a lot of statistics and probability websites out there to research.

• ODDS: This is the probability that an outcome will occur.
  • For example, if I were to flip a coin, the probability (or ODDs) that it would come up heads is 50% or 1 out of every 2 times the coin is flipped, IN THE LONG RUN. So if I flip the coin 1000 times, it will probably come very close to 500 heads and 500 tails. (This would be 1 to 1 ODDs)
  • That doesn’t mean that IN THE SHORT TERM it will come out heads every other time it’s flipped. You may get 2 heads in a row, 5 heads in a row, or maybe even 10 heads in a row, but IN THE LONG RUN you’re most likely going to get close to the same number of heads and tails outcomes.
  • The SHORT TERM TRENDS are what we want to take advantage of to leave the table a winner.

• PAYOUTS:The amount the casino pays you each time your outcome occurs.
  • Using the coin flip example above, imagine that you’re betting $5 on heads each time the coin is flipped. At even (or 1 to 1) ODDs, you should get paid $5 every time it comes up heads. But that’s not how it works at the casino. They have a built in ‘vig’ that pays you less than the true odds.
  • So let’s imagine that at this casino, they pay you $4 every time heads is flipped. In 10 flips, if it comes up heads 9 times… you’ve won $45.
  • But if you flip the coin 100 times and it comes out 50 heads and 50 tails, you just lost $100 even though you won an even amount of times.
  • (100 flips at $5 = $500) (50 wins (heads) paid $4 each = $400) = ($100 loss)
  • This is where the HOUSE EDGE comes in.

• HOUSE EDGE:The percentage difference between the true odds of a winning outcome and the payout for that winning outcome.
  • This is how the casino always wins in the long term… by paying you less than the true probability of the outcome you bet on.
  • In the coin flip example, your betting $5 on an even odds bets, but they’re only paying you $4 for every win. In this example, the house edge on this bet is a whopping 20%. (This would qualify as a ‘Not So Smart’ bet.)

The Pass Odds / Come Odds Bet Explained - Lol Craps

Your goal is to lessen the casino’s house edge over you so you have the best chance of winning. Just focus most of your betting on the bets that have the lowest house edge.

See Full List On Crapspit.org

SMART BETS

These are the bets with the lowest House Edge and give you the best chance of winning. An easy way to remember these… They are on the right and left sides of the table. Most of your betting should be focused on these bets.

NOT SO SMART BETS

These are the bets that give the casino the highest House Edge and their greatest advantage over you. Again, there is nothing wrong with betting on any of these as long as you’re making an informed decision on what you’re betting on.

These bets are typically located in the center of the table in front of the stickman.

You are now a much more educated gambler and much better equipped to win at the craps table and against the casino.

Craps Table Odds And Payouts

Feel free to leave any comments that would be helpful to readers learning about odds, payouts and house edge.

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In the meantime…

Craps Odds And Payouts

BEST OF LUCK AT THE CASINOS!!!

Types of Craps Bets

This is the most powerful bet in all of craps. In order to play the free odds bet, you must have wagered on the pass line bet or the come bet. If the shooter has not rolled a craps number (2, 3, or 12) or a 7 or 11, then there must be a point number established (4, 5, 6, 8, 9, or 10). Once the point has been established, players can have access to the pass odds bet or come odds bet (also just known as free odds).

Players may wager on the free odds bet in multiples of their original pass/come bet amount. Most casinos allow multiples of 1x, 2x, or 3x. Casinos in Las Vegas for example will allow players to wager 10x, 50x and even 100x odds bets. The rule of thumb is this: The more money you bet on the odds bet, the lower the house edge becomes in your overall pass/come bet that you originally made.

The odds bet itself pays out true odds, meaning there is a 0% (yes zero) house edge. There is not a single game you will ever find at the casino that will offer no house edge. It is as if you are betting head or tails on the flip of a coin. This means totally fair odds. This bet wins when the shooter rolls the point number before a 7.

Remember, the number 7 is the most frequently rolled number. Then 6 and 8 are the next two frequent, followed by 9 and 5, then 4 and 10 with the least frequent of the point numbers. The 6 and 8 pay out 6:5 or $6 for every $5 wagered. 5 and 9 pay out 3:2. 4 and 10 pay out 2:1 odds. Note that these payouts are only for the odds bet. The original Pass/Come line bet will still be paid 1:1 if it wins.

I will explain the bet using the image below. First I made a pass line bet and the shooter rolled a 4 on the come out roll. The number 4 become the point number (noted by the puck that now says 'ON'). Then the dealer moved my chips up to that area of the layout and I made a 1x multiplier free odds bet (so there are two $88 chip stacks now), which gets placed right next to the chips that the dealer moved up there. I will win both bets if the dealer rolls another 4.