American Odds are the default odds at American sportsbooks. These odds are based on winning $100 for a given bet. Betting a Favorite: The odds for favorites will have a minus (-) sign, and represent the money you need to risk to win $100. So if you're betting on the Packers at -140 against the Vikings, that means Green Bay is a slight favorite. When you play craps, you should take into account all possible combinations of numbers when you calculate the craps odds and payouts. Here we will discuss the different craps odds payouts starting from the two numbers that are the hardest to throw: two and twelve. There is only one combination of the two dice that can result in these figures. The true odds are based on the number of ways to roll the point number against the number of ways to roll a 7. We know from our lesson on basic craps math that there are: Six ways to roll a 7. Five ways to roll a 6 or 8. Four ways to roll a 5 or 9. Three ways to roll a 4 or 10. Consequently, the true-odds payoffs are: 6:5 for the 6 and 8. 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? Well, it's actually the worst on the table, carrying a 16.67% house edge.
Although the game of craps is sometimes considered difficult, it is widely-preferred in both land-based and Internet casinos. The great variety of bets provides players with the opportunity to choose the best ones for them and offers excitement and an excellent gaming experience.
The Place Bet
The so-called Place bet is considered as a pretty simple one. To be precise, there are two different types; the first one is called 'Place bet to win,' and the other, 'Place bet to Lose'.
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Place bets could be made at any time during the game and offer fast action. In fact, when played online, such bets require no waiting time. In addition, a great advantage is the fact that the bet could be made or taken down whenever the player wants, which is why it is called a 'standing' bet.
When it comes to making a Place bet, players wager on the numbers 4, 5, 6, 8, 9, and 10. If they have chosen to put their wager on the 'Place to Win bet', the player bets on the probability of the shooter rolling any of the above-mentioned numbers before rolling a 7. On the other hand, when the 'Place to Lose bet' is made, the player wagers on the chance for a 7 to be rolled by the shooter before rolling any of these numbers.
There are three possible outcomes of such a bet. First, the place number could appear, and then the player wins. Then, the player loses his bet if a 7 appears. The third outcome includes any other number that could appear apart from the place numbers and the 7, this would mean nothing in terms of winning or losing.
Sometimes, players who use the place bet use all of the aforementioned numbers for maximum action. This strategy, however, is not consistent enough which makes it inappropriate for long-term betting. In addition, the player would need a large bankroll in order for him to cover all six winning numbers.
Place Bet Payout Options
This type of craps bet offers payouts that are quite good, especially in comparison to the ones provided by other craps bets. As a matter of fact, the payouts are nearly identical to true odds but are usually a bit smaller.
The actual odds of rolling a 4 or a 10 are 2 to 1. When the shooter throws a 5 or a 9, the odds equal 3:2, while the odds of them throwing a 6 or an 8 are 6:5.
As already mentioned, the payouts of winning Place bets are pretty good. The payouts for rolling a 4 or 10 are 9 to 5. players get 7:5 for rolling 5 or 9, and 7:6 for rolling 6 or 8.
Regardless of the fact these payouts seem relatively good, they are slightly lower in comparison to the ones of true odds. In addition, the house edge varies depending on the combination rolled.
For example, the casino advantage is the largest when a place 4 or 10 is rolled and amount to 6.67%, which is a pretty high house edge. When a place 5 or 9 has come out, the casino advantage equals 4.00%, while the house edge is the lowest for rolling out a place 6 or 8 – 1.57%.
Payouts On Craps Bets
As evident, the house holds a substantial advantage over the player who has chosen to use a Place bet, especially on the outside numbers. Of course, all of these numbers could be covered through the pass line or come box. In case that they are played with the Free odds bet, they would provide the casino with less than 1% advantage. However, there is a difference when played with the Place bet, as the player is given the chance to select the number and go directly to it.
Craps Odds Payouts
Craps odds are a measure of how much of an advantage the casino holds in the game. Comparing the true odds of a craps wager against the payout, a gambler can see how much he or she is likely to pay to play. This article lays out the true odds in craps, discusses how they compare to the payoff, and extracts the house edge.
See Full List On Crapsage.com
Dice shooters need to know the house edge in craps. If you don't, then you're likely to lose a lot of money on bad bets. Reading this guide to craps odds will give a gambler a better understanding of the windfalls and pitfalls encountered when betting on the dice.
