Craps, with its fast pace and seemingly complex betting options, can be intimidating for newcomers. However, buried within the chaos lies a bet that offers the best odds in the casino: the Odds bet. Understanding and utilizing the Odds bet can significantly improve your chances of winning at craps and reduce the house edge to its absolute minimum. This article will delve into the specifics of the Odds bet, explaining its mechanics, advantages, and how to effectively incorporate it into your craps strategy.
Understanding the Odds Bet: A Comprehensive Table
| Topic | Description | House Edge |
|---|---|---|
| What is the Odds Bet? | A side bet placed after establishing a point on the Pass Line or Don’t Pass Line, or after making a Come or Don’t Come bet. It allows you to bet with or against the point at true odds. | 0% |
| Pass Line Odds | Placed behind the Pass Line bet after a point is established (4, 5, 6, 8, 9, or 10). Pays true odds based on the point. | 0% |
| Don’t Pass Odds | Placed behind the Don’t Pass Line bet after a point is established. Pays true odds, essentially betting the shooter will not make the point. | 0% |
| Come Odds | Similar to Pass Line Odds but placed after a Come bet is established (a new point is rolled after the initial Come bet). Pays true odds. | 0% |
| Don’t Come Odds | Similar to Don’t Pass Odds but placed after a Don’t Come bet is established. Pays true odds, betting against the new point. | 0% |
| Odds Allowed (Multiples) | The maximum amount you can wager on the Odds bet, expressed as a multiple of your initial Pass Line (or Come) bet. Common multiples are 3x, 5x, 10x, and sometimes even higher. Higher multiples reduce the overall house edge. | 0% |
| Payouts for Points 4 & 10 | Pays 2 to 1 (for every $1 you bet, you win $2). | 0% |
| Payouts for Points 5 & 9 | Pays 3 to 2 (for every $2 you bet, you win $3). | 0% |
| Payouts for Points 6 & 8 | Pays 6 to 5 (for every $5 you bet, you win $6). | 0% |
| Effect on Overall House Edge (with Odds) | Varies depending on the odds allowed. Higher odds multiples significantly lower the overall house edge on the Pass Line/Odds or Come/Odds combination. | See Below |
| House Edge (Pass Line with 1x Odds) | Approximately 0.85% | 0.85% |
| House Edge (Pass Line with 2x Odds) | Approximately 0.61% | 0.61% |
| House Edge (Pass Line with 3x Odds) | Approximately 0.47% | 0.47% |
| House Edge (Pass Line with 5x Odds) | Approximately 0.33% | 0.33% |
| House Edge (Pass Line with 10x Odds) | Approximately 0.18% | 0.18% |
| House Edge (Don’t Pass with Odds) | Slightly lower than Pass Line with equivalent odds, due to the 12 roll. | See Below |
| Taking Down the Odds Bet | You can typically remove (or "take down") your Odds bet at any time before the point is rolled, although this is generally not recommended if you’re betting with the point. Casinos may have rules regarding taking down Don’t Pass/Don’t Come odds. | N/A |
| Working/Off Bets | Pass Line and Come bets are always "working" (active). Don’t Pass and Don’t Come bets are typically "working" on the come-out roll unless you specify they are "off". Odds bets can be designated as working or off. | N/A |
Detailed Explanations
What is the Odds Bet?
The Odds bet is a supplemental wager you can make after a point has been established in craps. It’s unique because it pays out at true odds, meaning the payout reflects the actual probability of the point being made or not being made. This is what makes it the best bet in craps from a purely mathematical perspective.
Pass Line Odds
After placing a Pass Line bet and a point is established (4, 5, 6, 8, 9, or 10), you can place an additional wager behind the Pass Line. This wager is the Pass Line Odds bet. You are essentially betting that the shooter will make the point before rolling a 7. The payout depends on the specific point.
Don’t Pass Odds
Similar to the Pass Line Odds, but placed behind the Don’t Pass Line. After placing a Don’t Pass bet and a point is established, you can place an Odds bet behind the Don’t Pass line. Here, you’re betting that the shooter will not make the point before rolling a 7.
Come Odds
Come bets function like mini-Pass Line bets made after a point has already been established. If a number is rolled after your Come bet, that number becomes your "Come point," and you can then place an Odds bet behind the Come bet, wagering that your Come point will be rolled before a 7.
Don’t Come Odds
Mirroring the Don’t Pass Line, the Don’t Come bet is essentially betting against a new point. After placing a Don’t Come bet and a number is rolled (establishing a new point), you can place an Odds bet behind the Don’t Come bet, wagering that a 7 will be rolled before your Come point.
Odds Allowed (Multiples)
Casinos limit the amount you can wager on the Odds bet as a multiple of your initial Pass Line or Come bet. Common multiples are 3x, 5x, and 10x. The higher the multiple allowed, the lower the overall house edge becomes. This is because a larger proportion of your total wager is placed on the true odds bet.
Payouts for Points 4 & 10
The points 4 and 10 are the hardest to roll, with only three combinations each (1+3, 2+2, 3+1 and 4+6, 5+5, 6+4, respectively). Therefore, the payout for the Odds bet on these points is 2 to 1. If you bet $10 on the Odds on a 4 or 10, you’ll win $20.
Payouts for Points 5 & 9
The points 5 and 9 have four combinations each. The payout for the Odds bet on these points is 3 to 2. If you bet $20 on the Odds on a 5 or 9, you’ll win $30.
Payouts for Points 6 & 8
The points 6 and 8 are the easiest to roll (excluding 7), with five combinations each. The payout for the Odds bet on these points is 6 to 5. If you bet $50 on the Odds on a 6 or 8, you’ll win $60.
Effect on Overall House Edge (with Odds)
The Odds bet, by itself, has a 0% house edge. However, it’s always used in conjunction with an initial Pass Line, Don’t Pass, Come, or Don’t Come bet, which do have a house edge. The overall house edge on the combination of these bets decreases as the multiple of the Odds bet increases.
House Edge (Pass Line with 1x Odds)
Combining the Pass Line bet (1.41% house edge) with a 1x Odds bet results in an overall house edge of approximately 0.85%.
House Edge (Pass Line with 2x Odds)
Increasing the Odds bet to 2x the Pass Line bet further reduces the overall house edge to around 0.61%.
House Edge (Pass Line with 3x Odds)
With a 3x Odds bet, the house edge drops to approximately 0.47%.
House Edge (Pass Line with 5x Odds)
At 5x Odds, the house edge is significantly reduced to around 0.33%.
House Edge (Pass Line with 10x Odds)
A 10x Odds bet offers one of the lowest house edges in the casino, at approximately 0.18%. This is why knowledgeable craps players seek out casinos offering higher odds multiples.
House Edge (Don’t Pass with Odds)
The Don’t Pass line has a slightly lower house edge than the Pass Line (1.36% versus 1.41%). When combined with Odds, the overall house edge is also slightly lower than the equivalent Pass Line/Odds combination. However, the difference is minimal.
Taking Down the Odds Bet
Generally, you can remove your Odds bet at any time before the point is rolled. However, it’s usually not advisable to remove your Odds bet if you’re betting with the point (Pass Line/Come Odds), as you’re giving up a bet with no house edge. Some casinos may have specific rules about taking down Don’t Pass/Don’t Come odds, so it’s best to inquire before playing.
Working/Off Bets
Pass Line and Come bets are always "working" (active) on every roll. Don’t Pass and Don’t Come bets are typically "working" on all rolls except the come-out roll (the initial roll before a point is established) unless you specifically tell the dealer you want them "off." Odds bets can be designated as "working" or "off" at your discretion. This is particularly relevant for Don’t Pass/Don’t Come bettors who might want their Odds bet off during the come-out roll to avoid losing to a 7 or 11.
Frequently Asked Questions
What is the Odds bet in craps?
The Odds bet is a side bet that pays true odds, placed after a point is established, allowing you to bet with or against the point with no house edge.
Why is the Odds bet considered the best bet in craps?
Because it offers a 0% house edge, making it the fairest wager available in the game.
How do I place an Odds bet?
After a point is established, place your chips behind your Pass Line, Don’t Pass, Come, or Don’t Come bet and tell the dealer you are "taking the odds."
What is the maximum amount I can bet on the Odds bet?
The maximum Odds bet is determined by the casino and is expressed as a multiple of your initial Pass Line or Come bet (e.g., 3x, 5x, or 10x).
Can I remove my Odds bet at any time?
Generally, yes, you can remove your Odds bet before the point is rolled, but it’s usually not recommended if you’re betting with the point.
What are the payouts for the Odds bet?
The payouts are based on the point: 2 to 1 for 4 and 10, 3 to 2 for 5 and 9, and 6 to 5 for 6 and 8.
What is the house edge of the Odds bet?
The Odds bet itself has a 0% house edge.
How does the Odds bet affect the overall house edge?
The higher the multiple of the Odds bet, the lower the overall house edge on the Pass Line/Odds or Come/Odds combination.
Should I always take the Odds bet?
Yes, if your bankroll allows it. Taking the maximum Odds allowed will significantly improve your chances of winning in the long run.
What does it mean when a bet is "working" or "off"?
"Working" means the bet is active and will be paid out or lost on the next roll. "Off" means the bet is inactive and will not be paid out or lost on the next roll.
Conclusion
The Odds bet is undeniably the most advantageous bet in craps due to its 0% house edge. By understanding its mechanics and consistently utilizing it, especially at higher multiples, you can significantly reduce the casino’s advantage and increase your potential for profit. Focus on finding casinos with generous odds multiples and manage your bankroll wisely to maximize your opportunities with this powerful betting option.