How to Lay Odds in Craps
by Jerald of Predictem.com
One of the best bets you can make in a casino is to take odds on your pass/donít pass or come/donít come bets. This bet is also called ďfree oddsĒ because there is no house advantage so the bettor receives the true price that the odds dictate.
In order to make this bet you must have a pending bet on either the pass/donít pass or come/donít come. Once the point for these bets is established you can then take odds (if you are on the pass or come side) or you can lay odds (if you are on the donít pass or donít come side).
The amount of odds that you can have for the free odds is dependent on the casino but most places will allow what is called double odds. This means that if you have a $10 flat bet (pass, donít pass, come or donít come) then you can take $20 free odds bets (pass and come) or lay the amount required to win $20 (donít pass or donít come).
The amount that you receive or lay depends on the number that you have established for your pass or come bet. Here is how much you will be paid if you are taking odds on the pass or come bet:
If the point is 4 or 10 Ė Free odds bet pays 2:1
If the point is 5 or 9 - Free odds pays 3:2
If the point is 6 or 8 Ė Free odds pay 6:5
Example Ė To start play you bet $10 on the pass line, the come out number is 4. You would put down $20 behind your pass bet and tell the dealer you want odds. If the number 4 is rolled before the 7 you would win $10 for your pass line bet and $40 for your odds bet. If the number 7 is rolled before a 4 is rolled you would lose $30.
If you are betting the donít pass or donít come here are the amounts you must lay for your odds:
If the point is 4 or 10 Ė You must lay 2 units to win 1 unit
If the point is 5 or 9 - You must lay 3 units to win 2 units
If the point is 6 or 8 Ė You must lay 6 units to win 5 units
Note: The reason you have to lay more than what you are winning is because the 7 is more likely to come up and make you a winner than the established number which would make you a loser.
Example Ė To start play you bet $10 on the donít pass line, the come out number is 4. You would put $40 behind your donít pass bet and tell the dealer you want odds. If the 7 is rolled before the 4 you would receive $10 for your donít pass bet and $20 for your free odds bet for a $30 win. If the 4 is rolled before the 7 you would lose $50.
The house advantage in playing craps is good for the player if you stick with the basic bets. By using free odds you can even lower the house advantage to give yourself a better chance of winning. The house advantage on pass and come bets is a low 1.41% and the advantage on donít pass and donít come bets is 1.40%.
If you take the double free odds bet you can actually lower the house advantage to 0.85% on pass and come bets and 0.83% on donít pass and donít come bets.
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