The Small, Tall, and All Bets are a popular series of wagers that casinos began offering a few years ago. Because these bets can be made in $1 increments and have huge payouts, even disciplined craps players are known to place these wagers at times. In fact, the assembled gamblers often keep track of these bets when this wager has been placed.
$1&$2 – $500 $500 max on Odds $500 max payout on Prop bets: Downtown Odds on Proposition Bets, $1 Minimum. Field Bets2 pays Double, 12 paysTriple. This may still be the place to test your system on a 25 cent table but tableminimum is sometimes at $2. Table opens most mornings at 9 AM. (4-09) SILVERTON: 3: 10x: $3 or $5 – $1,000 $2,000.
The pass line bet with odds is the best craps bet you can make because it has the lowest house edge. However, players can also wager on the numbers 4, 5, 6, 8, 9, or 10 at any time with a Place Bet. These numbers are sometimes referred to as “point numbers” or “box numbers,' and the wagers go in the big boxes shown on the layout. Place bets are very valuable when a shooter is rolling many numbers, as you'll get paid each time the number repeats.
Craps Hop Bets Payouts
How to Make Place Bets
Bets to Avoid in Otherwise Safe Casino Gambling Games. Some casino games are safer to gamble on than others, but even these have versions or bets that’ll drain wallets. Avoid these casino game versions or bets at all costs: Jacks or Better Video Poker (6/5 Version): The payouts are much worse on some versions of video poker. For example, when. Understand what craps bets are worth taking by understanding the payout odds and house edge. Complete Craps Betting Payout Chart For your convenience, we have put together a complete craps payout chart to help you understand the game better. Please be aware that payouts vary at different casinos.
To make a place bet you put your chips in front of you on the layout and tell the inside dealer which numbers you want to cover. The dealer will then move your chips to the numbered box you want to wager on. Place bets are not self-service bets.
The dealer keeps track of which bet belongs to which player by placing them strategically inside the box.
Winning Your Bet
After you place a number it must roll before a seven appears in order to win. When the shooter sevens-out, you lose all of your place bets. When you win a place bet the dealer will push you your winnings but the original bet stays where it is and keeps winning if the number keeps rolling.
Your original bet will stay on the place number until the shooter sevens out or until you ask the dealer to take your bet down. You can take down your place bets anytime you want to. If the shooter makes their point the place bet will be turned-off for the come-out roll. Want it to work (win or lose) on the come-out? You've got to tell the dealer before the shooter releases the dice!
The Pay Out
The true odds of rolling the numbers six and eight are 6 to 5 but a winning place bet on these numbers pays $7 to $6, so you must make your place bets on these numbers in multiples of six dollars. The house edge on the 6 and 8 is only 1.52 percent which makes it a very good bet.
The true odds of rolling a five or nine are 3 to 2 but a winning place bet on these numbers pays $7 to $, so you must make your place bets in multiples of five dollars. The house edge on the 5 and 9 is 4-percent.
The true odds of rolling the for or ten are 2 to 1 but a winning place bet on these numbers pays $9 to $5. These numbers require bets in multiples of five dollars. The house edge on the 4 and 10 is 6.67 percent.
Place Bets
Craps Bets Payouts
Buy Bets
A Buy Bet is very similar to a place bet, but with slightly better odds for the player in the 4 and 10. When betting on a number with a buy bet you pay a 5 % commission to the house. Since the minimum chip value at the casino is a dollar you will be paying at least that much. It is not worth it to buy a number for less than $20.
If you are betting more than $10, buying the 4 and 10 is better than placing them. This is because you are being paid 2 to 1 instead of 9 to 5. Some casinos only charge you the commission on buy bets when you win. Ask the dealer at the table if this is their policy. If you have a choice of casinos to play in, always choose the one that only charges a commission on winning buy bets.
Buying the 6 and 8 is not worthwhile. You will actually have a higher house edge because of the commission.
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 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.
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.
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.
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
Dealing Craps And Figuring Payouts
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.
Craps Odds Betting
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.
Any Craps Payout
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.)
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.
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.
Feel free to leave any comments that would be helpful to readers learning about odds, payouts and house edge.
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