Monday, June 22, 2015

Aces Casino College Of Casino Game Knowledge: Craps 201, or Part 3 Of Our Online Craps "Webinar" The "Odds Bet," A.K.A. The Best Bet On The Table


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. 

Traditional Craps layout (one end)

The bet we're talking about is the "odds bet."  Simply stated, after a player wagers money on the pass line and a point is created, the "odds bet" is an additional bet that is hoping that the shooter makes his point.  For instance, during the "come-out roll," A.K.,A. the first roll of any given sequence, the shooter of the dice throws a 9.  The dealer on the end of the table places the puck on 9, and now, for the pass line bet to be a winner, the shooter MUST throw a 9, before a 7.  As far as the pass line goes, those two numbers (9, and 7) are the only two numbers that matter to the pass line bet.

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. 

Required beverage for $500 odds bets.

So, remember, my Aces Casino Craps scholars -- The odds bet is the best bet in the casino.  Don't let it slip by, and don't hold on to your chips, waiting to see if a few other numbers come up first.  The dice have no memory, my friends, and they don't know if the chips on the table are real or fake, which makes our Orange County casino party tables the PERFECT foil for any Craps game testing. 

So much for Part 3 of our "Aces Casino College of Casino Game Knowledge" for today, "the Odds Bet," my friends.  Next up, in part 4 of our Craps online seminars, we'll touch on all of the other betting spaces on the Craps board that we haven't discussed as of yet, and tell you what they are, when they win or lose, and how you might look to bet those wagers that we call "exotic bets."  I also call them the 'kids college fund.'  I'll tell you why when we reconvene class on Thursday. 

Later in July, we'll look at one of the most requested topics in the Orange County casino night gaming industry -- The Top 3 Things That Professional Party Planners NEVER Want To See At their upcoming Casino Event Fundraiser / Private Party.  Come back on Monday and check it out -- If you're planning that next Vegas Night party, it's a "Must-Read."  Better yet, give us a call here at Aces Casino, and we'll show you why we're the top Orange County casino party company in SoCal.  Take care, have a great weekend, and we'll see you later!

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