A hearty welcome to all of our "online students" that have returned for Part 3 of the "Aces Casino College of Casino Game Knowledge - Craps 201." (Dusts off soap opera announcer's voice) "Ahem..." As you recall from our prior excursions into the wild and wonderful game of Craps, we've discussed some of the terms of the game and what they mean, followed by our examples of "playing the numbers across," also known as the "Place Bets." We also took a virtual tour all the way to the back of the strategy book of Craps, to determine just how the game is beaten.
Oh, yes, and if , by chance, you neglected to attend either or both of our last two classes, fear not, my class-cutting wunderkinds -- You can go back and check out past lessons on Craps by searching for past issues of the "Aces Casino College of Casino Game Knowledge," which you can find at our Aces Casino Blog start page, and brought to you as an absolutely FREE service by the leader in Orange County casino party events, Aces Casino. It's there, somewhere. (Hey, YOU cut the classes, not me. Go and look for them, you should read those old posts before reading this Part 3 edition, anyway.)
OK, now, where were we -- Ahh, yes, when last we met, we were preparing to talk about something of an anomaly when it comes to casino games -- The only wager on the Craps board that the casinos have NO advantage over the players.
Now, here's the kicker - The "odds bet." Once the shooter threw that 9 on the come-out roll, he/she could then place the "odds bet," which goes right behind the original pass line bet you made, in the area on the table that has no markings to show that the odds bet even exists. Now, for subsequent rolls, the pass line bet AND the odds bet are looking for the only number that makes BOTH bets a winner -- The original come-out roll number show, in this instance, the 9. If a 9 comes up before a 7, the pass line bet AND odds bet are BOTH winning bets!
And not only that, but the odds bet doesn't get paid at even money like the pass line bet -- It gets paid at what is called "true dice odds." Whoosh...I know, I did a fly-by there. "Just what ARE true dice odds, Mister Orange County casino night party guy?" Good question... Here's the answer... To determine true dice odds, we simply use mathematics. The ACTUAL odds against a shooter throwing a 9 before a seven is 3-to-2. Why, you ask? Simple. There are 6 ways to make a number 7 on the dice, and only 4 ways to make a 9.
Using two dice...
Ways to make a 7 -- 1/6, 2/5, 3/4, 4/3, 5/2, 6/1
Ways to make a 9 -- 4/5, 6/3, 3/6, 5/4
6 ways to make the seven, four ways to make the 9. 6-to-4, or to simplify the fraction, the odds against us throwing the 9 are 3-to-2. And since "true dice odds" are how the "odds bets" are paid, we'd get 3-to-2 on our bet. If we had a $5 winning pass line bet and a $10 odds bet behind it, we'd end up winning $20! That's a $5 win on the pass line bet, and a $15 bet on the odds bet. $10 bet got us $15, or 3-to-2.
The odds bet is simply the best bet on the craps layout, because it's the only wager in the whole danged casino that the casino has NO edge over the player. It always pays true dice odds. The odds against the 4-or-10 being thrown are 2-to-1 against the player... Make one of THOSE numbers before a 7 is rolled, and get paid 2-to-1 on your odds bet. It's the Aces Casino "Wager of the Decade." It might be tough to always trot out that odds bet when the point is created on the come-out roll, but you MUST make that bet.
Now, if your next question is something like, "hey, if it's such a good bet, how much can I bet on the table as an odds bet?" The answer varies.... Every casino has rules when it comes to the Craps table and the subsequent "odds bet," but most casinos allow what is called "double odds," or the odds bet can be twice the amount of the original pass line bet.
Those of you that may have noticed billboards dotting the desert highway that beg to be read during the car trip to Las Vegas may have also noticed that some casinos offer 10-times odds, some even 100-times odds on Craps. What those statements are telling us is, if you had a $5 pass line bet, and the casino offers 100-times odds on Craps, the player could actually make a $500 odds bet on that measly five bucks. Friends, all I can say about this is, you haven't lived until you've lived thru a long roll at a Craps table waiting to see if your $500 odds bet is going to win.