Craps Odds Explained: Maximizing Returns on Your Bets

Craps is one of the oldest casino games and involves betting on the outcome of a pair of dice. There are lots of bets to pick from, each with its own house edge and probability of winning. The house edge for the standard bets ranges from around 1.36 up to 1.41, but some wagers have 0 house edge.

Learning all the different types of bets and where they are applicable is a must if you want to master this game. With its relatively low house edge, Craps is the perfect game of choice for expert gamers with advanced betting strategies.

Basic Craps Wagers

In Craps, there are two phases in which you can bet. Before any dice are thrown, you can place wagers on the Come Out, and after the dice are cast, there is a possibility to place Point bets. If the Come Out roll lands a 7 or 11, then the Pass Line bets are satisfied. However, if a 2, 3, or 12 are rolled, then these bets lose. Any other outcome (4, 5, 6, 8, 9 or 10), makes the Point.

On a Point roll, the shooter will throw the dice again until a 7 is thrown. After the Point is established, you can make Come Bets, Don’t Come, and Odds Bets (the Craps equivalent of props bets).

Pass Line Bet

1:1 Payout with a 1.41% House Edge

Wins if the Come Out roll is 7 or 11. If it is 2, 3 or 12, then the point is established and a 7 must be rolled. It has a 251:244 chance of winning, and pays out at 1:1. This means, the house has an edge of 1.41%.

Don’t Pass Bet

1:1 Payout with a 1.36% House Edge

This is the opposite of a Pass Line bet, in that you are wagering on the Come Out roll to be a 2 or 3. It loses if the roll is a 7 or 11, and pushes if the initial roll is 12. If the point is established, then it wins if a 7 is rolled. It has a 976:949 chance of winning, paying out even money. This means the house has a slightly smaller edge of 1.36%.

Come Bet

1:1 Payout with a 1.41% House Edge

This bet is made after the Come Out roll, if the Point is established. It is a bet on the Point to make a 7 or 11. The probability of winning is the same as the pass bet, and so is the payout. This is basically a chance to increase your Pass Line betting stake.

Don’t Come Bet

1:1 Payout with a 1.36% House Edge

This is the opposite of the Come Bet. It becomes available if the Point phase is established, and pays out if the next roll is either 2 or 3.

Taking Odds Bets

These are only available after the point has been established, and are the Craps equivalent of props bets. Basically, you can bet on the dice roll to have a value of: 4 or 10 / 5 or 9 / 6 or 8. The odds are the following:

• Taking Odds (4 or 10) – 2:1 Payout with 0% House Edge
• Taking Odds (5 or 9) – 3:2 Payout with 0% House Edge
• Taking Odds (6 or 8) – 6:5 Payout with 0% House Edge

Places to Win

This is a similar type of props bet, but instead you are betting on specific numbers to be rolled. These bets can only be made after the Point is established, and they have some house edge.

• Place to Win (6 or 8) – 7:6 Payout with a 1.52% House Edge
• Place to Win (5 or 9) – 7:5 Payout with a 4% House Edge
• Place to Win (6 or 8) – 9:5 Payout with a 6.67% House Edge
• Place to Win (4 or 10) – 7:6 Payout with a 1.52% House Edge

Field Bets

These bets can be placed at any time, so you can add them to your Come Out preroll bets or put them after the initial roll. They are bets on specific numbers to be rolled, and carry some house edge.

• Field Bet (3,4,9,10,11) – 1:1 Payout with a 5.56% House Edge
• Field Bet (2 or 12) – 2:1 Payout with a 2.78% House Edge

Craps Betting Strategy

On the surface of it, Craps is quite a complex game for beginners. But there are lots of free demos that you can try out before you try playing for real money. The advanced betting strategies only really work if you have a good knowledge of the game. From there, you can learn all the advanced strategies to maximizing your bankroll.

Use Low House Edge Bets and Diversify

The field bets are attractive due to their big payout possibilities, but if you want to reduce the house edge, you should avoid them. Stick to the pass line and come bets (or the opposite equivalents). Also, seize the opportunity if the point is established to make Taking Odds bets, which carry 0 house edge. While they are risky, you have the best chance of turning a profit with them.

The first step is really to learn how those two standard bets work, and when to place the auxiliary Taking Odds bets.

Managing Your Bankroll

Craps is a fast moving game, and though Point rounds can last a good few rolls, it is quite easy to rack up heavy losses if you are inexperienced. The game can yield excellent profits, but to do so you will need a secure bankroll plan. When creating your gaming account, be sure to set deposit limits, and then to make a plan for your gaming sessions.

Patience is a key part of turning a profit, and you will need enough money to last a good few rounds. While it can be tempting to double up or bet aggressively, you should avoid the temptation. Don’t fall into any gambler’s fallacies, such as you are only a few rolls away from making a big win, or that you should chase any losses. Play responsibly and stay in control of your gaming.

Using Advanced Betting Strategies

There is an element of control in Craps, but it is not the same as hitting/standing in Blackjack or raising/folding in Poker. Instead, the control lies in what bets you choose and how you stake your money. The advanced Craps players use betting systems to try to turn a profit through their gaming.

Craps Staking Betting Systems

You can flat bet on Craps, meaning you make a fixed stake and stick to it for all your rolls. This is a good strategy for gamers who want to play for longer periods of time, without making heavy losses. It is also quite straightforward to use, but by no means is it your only option.

The Martingale strategy is the most famous of the progressive betting systems. It involves a player doubling up after a loss. It is designed for bets with a 1:1 payout ratio – perfect for Craps gaming. But if you will also use bets after the Point Phase, then the strategy becomes a little more complex. It is aggressively geared to bring you wins, but you will need a tremendous bankroll to keep playing if you do lose back-to-back rounds.

Alternative Progressive Betting Systems

The Fibonacci system is not as aggressive as the Martingale and is poised to capitalize on winning streaks. You have to establish staking units, and whenever you win you increase your stake with a unit according to the Fibonacci sequence. That is, by 0, 1, 1, 2, 3, 5, 8, 13, and so on. After a loss, you move one step down the sequence. The idea is that you will be able to make big money on winning streaks, and become more cautious when you run into losses.

But if you want something even more stable, then the Labouchere is your safest bet. Unlike many of the other strategies, this involves you increasing your stake after a loss and decreasing it after a win. The idea is to mitigate your chances of losing and trying to make back your losses. You will not chase the big wins as aggressively as the Martingale, but on the other hand you won’t have to sink in loads of money if you start losing. It is designed to sustain your bankroll for longer gaming sessions.

Mastering Craps and Finding Your Strategy

The great assortment of bets opens up the doors to lots of betting opportunities. You can stick to pre-Come Out roll wagers, using the low house edge and using a stable betting strategy. If you dabble in Point phase wagers, then you will need to form a more complicated betting system. Yet it is quite possible given the flexibility that the different wagers offer. Just remember to budget for your gaming, and to be patient with the wins.

If you are going to use Taking Odds bets, then make sure you have enough money to play for a good long while. And remember, that even if there is no house edge, the odds are stacked quite high against you. So place your Taking Odds bets carefully, and ensure you don’t go bust.