Craps - Bet Odds and Summary

Bet Odds and Summary

Note: Individual casinos may pay some of these bets at different payout ratios than those listed below. Some bets are listed more than once below – the most common payout in North American casinos is listed first, followed by other known variants.

Note: "True Odds" do not vary.

The probability of dice combinations determine the odds of the payout. The following chart shows the dice combinations needed to roll each number. The two and twelve are the hardest to roll since only one combination of dice is possible. The game of craps is built around the dice roll of seven, since it is the most easily rolled dice combination.

Viewed another way:

The expected value of all bets is usually negative, such that the average player will always lose money. This is because the house always sets the paid odds to below the actual odds. The only exception is the "odds" bet that the player is allowed to make after a point is established on a pass/come don't pass/don't come bet (the odds portion of the bet has a long-term expected value of 0). However, this "free odds" bet cannot be made independently, so the expected value of the entire bet, including odds, is still negative. Since there is no correlation between die rolls, there is normally no possible long-term winning strategy in craps.

There are occasional promotional variants that provide either no house edge or even a player edge. One example is a field bet that pays 3:1 on 12 and 2:1 on either 3 or 11. Overall, given the 5:4 true odds of this bet, and the weighted average paid odds of approximately 7:5, the player has a 5% advantage on this bet. This is sometimes seen at casinos running limited-time incentives, in jurisdictions or gaming houses that require the game to be fair, or in layouts for use in informal settings using play money. No casino currently runs a craps table with a bet that yields a player edge full-time.

Maximizing the size of the odds bet in relation to the line bet will reduce, but never eliminate the house edge, and will increase variance. Most casinos have a limit on how large the odds bet can be in relation to the line bet, with single, double, and five times odds common. Some casinos offer 3-4-5 odds, referring to the maximum multiple of the line bet a player can place in odds for the points of 4 and 10, 5 and 9, and 6 and 8, respectively. During promotional periods, a casino may even offer 100x odds bets, which reduces the house edge to almost nothing, but dramatically increases variance, as the player will be betting in large betting units.

Since several of the multiple roll bets pay off in ratios of fractions on the dollar, it is important that the player bets in multiples that will allow a correct payoff in complete dollars. Normally, payoffs will be rounded down to the nearest dollar, resulting in a higher house advantage. These bets include all place bets, taking odds, and buying on numbers 6, 8, 5, and 9, as well as laying all numbers.