The Odds bet in Craps has no house advantage. You MUST first make a flat bet before you can take or lay the odds.
Note: By making an odds bet it does NOT increase your chances of winning and it
does increase the volatility or bankroll swings that you can see playing in the short run.
The true odds are determined from the ways each number can roll.
The free odds bet as you can see is NOT FREE since you must first and always make a bet the has a house advantage.
From the house advantage table below it can be seen that the house edge DECREASES as more odds are taken. The largest decrease comes from taking 2x odds as it cuts the 1.414% HA to more than half to .61%.
Almost all craps experts say to bet more on the odds bet to take advantage of the lower house edge the odds bet offers. They are ALL not telling the complete truth.
Remember the odds bet does absolutely NOTHING to increase your chances of winning the bet. When you do win, your winning amount does increase as when you do lose your loss amount also increases.
| odds | net | net % | HA % | high | low |
|---|---|---|---|---|---|
| 0 | -990 | -1.87 | -1.41 | 85 | -1015 |
| 1 | -1712 | -1.94 | -0.85 | 231 | -1759 |
| 2 | -1525 | -1.24 | -0.61 | 487 | -1596 |
| 3 | -2247 | -1.42 | -0.47 | 653 | -2340 |
| 5 | -2782 | -1.22 | -0.33 | 1105 | -2921 |
| 10 | -3665 | -0.91 | -0.19 | 2295 | -3920 |
| 20 | -6340 | -0.84 | -0.1 | 4555 | -6825 |
| 100 | -27740 | -0.78 | -0.02 | 26350 | -30065 |
| $ bet | $ odds | odds X | net | net % | HA % | high | low |
|---|---|---|---|---|---|---|---|
| 10 | 0 | 0 | -1980 | -1.87 | -1.41 | 170 | -2030 |
| 5 | 5 | 1 | -1712 | -1.94 | -0.85 | 231 | -1759 |
| $ bet | $ odds | odds X | net | net % | HA % | high | low |
| 15 | 0 | 0 | -2970 | -1.87 | -1.41 | 255 | -3045 |
| 5 | 10 | 2 | -1525 | -1.24 | -0.61 | 487 | -1596 |
| $ bet | $ odds | odds X | net | net % | HA % | high | low |
| 20 | 0 | 0 | -3960 | -1.87 | -1.41 | 340 | -4060 |
| 5 | 15 | 3 | -2247 | -1.42 | -0.47 | 653 | -2340 |
| $ bet | $ odds | odds X | net | net % | HA % | high | low |
| 30 | 0 | 0 | -5940 | -1.87 | -0.47 | 510 | -7090 |
| 5 | 25 | 5 | -2782 | -1.22 | -0.33 | 1105 | -2921 |
You must first Buy In. Place your cash or chips on the layout and ask the dealer for change only. You can play craps on either side of the table. The layout has the identical bets on both sides. Place your chips in the rail on the top of the table and look to see if a new game is starting.
You place your bet on the pass
line before a new shooter begins his roll. The shooter is the person
that will be tossing the dice.
This is known as the come out
roll. The visual sign that the next roll is the come out roll is the
black puck on the table says "off". That means a new game is starting.
This is the absolute best time to make a pass line bet.
If the shooter rolls a 7 or 11 you win on the first roll.
If the shooter rolls a 2, 3 or 12, you lose.
If the shooter rolls any other number, 4, 5, 6, 8, 9, or 10 that number becomes the point number for the current game. The shooter must roll that number again before a seven is rolled. If that happens, you win even money for your pass line bet. If a seven is rolled before the point number is rolled again, you lose.
Once the point is established the bettor can make an additional bet behind the pass line bet. This is known as the "Odds Bet." It does not increase the chances of you winning but it allows you to win more by increasing your bet so it pays more than even money.
Most casinos offer at least double odds, which means you can make a bet twice the size of your pass line bet. If your pass line bet is $5 you are allowed to make an odds bet of $10 on a double odds table.
The winning payout would be $17 on the point of a 6 or 8, $20 on a point of 5 or 9 and $25 on a point of 4 or 10, instead of $15 that the total wager is.
The Odds bet is an optional bet and is not necessary to play the game of craps. It is actually easier to learn as you play.