Craps Odds
Don’t we all want to know the scoop on who has the edge and what our chances
of winner are? I know I certainly do. Don’t get me wrong, I know that
the house always holds some type of advantage over me when I am playing, but
it is nice to know what my odds and options are. I will explain in short about
some craps odds.
When the shooter establishes a point on the come-out roll, any player who has
made a pass line bet is allowed to "take the odds." A single odds
bet is an additional wager, up to the amount of your original wager, that the
point number will be repeated before a 7 is rolled.
The odds bet is the best wager you can make in the game of craps, because the
house has no built-in advantage. Some casinos permit players to make double
odds, and even greater odds wagers. The odds bet not only has no house edge
associated with it, but also has no official designated space on the craps table.
Therefore, to take the odds, you must place the appropriate amount of chips
behind your pass line bet in the open area of the craps layout.
The correct payoff for odds bets varies from point number to point number, depending
on the odds of a 7 being rolled before a particular point is repeated. The payoff
formula is the same whether you take single odds, double odds, or more. Correct
odds payoffs are as follows: Points 4 and 10 pay 2-to-1 Points 5 and 9 pay 3-to-2
Points 6 and 8 pay 6-to-5 As an example, suppose you bet $1.00 on the pass line
and establish a point of 4 in a casino that offers double odds. You now have
the option of taking the adds for an additional $2.00. (You can also wager a
lesser amount or choose not to take any odds at all).
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