| Play smart...learn how to play casino craps the right way! |
| Articles from www.learnthesecrettocraps.com by William J. Enslen, Jr. |
Calculating the House Advantage
A Load of Crap
Get Over Your Fear
Craps Pros and Their Winning Systems
Variance
Attitude
Winning Systems
Win-Loss Limits
The Gambler's Fallacy
Dice-Tossing Styles New!
Get Your Chips
Chips or Cheques?
Take an Open Spot
Crooked Dice
Dice Setting
Bridge or Heel the Don't Pass Odds Bet?
The "Put" Bet
Don't Toss in the Towel
Dealer Tokes
Etiquette and Superstitions
The History of Craps
A Load of Crap
Get Over Your Fear
Craps Pros and Their Winning Systems
Variance
Attitude
Winning Systems
Win-Loss Limits
The Gambler's Fallacy
Dice-Tossing Styles New!
Get Your Chips
Chips or Cheques?
Take an Open Spot
Crooked Dice
Dice Setting
Bridge or Heel the Don't Pass Odds Bet?
The "Put" Bet
Don't Toss in the Towel
Dealer Tokes
Etiquette and Superstitions
The History of Craps
| Come back and visit occasionally to read more craps articles. I'll be adding more soon! |
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Tip of the Week: Let's talk about Hedge bets. "Hedging" is making one bet to "protect"
another. You'll frequently see players make a $5 (or $10) Pass Line bet and then hedge it with a
$1 Any Craps bet. If the shooter rolls anything but a craps on the come-out roll, the Any Craps
bet loses (but it's only $1, so it's not too painful). If the shooter rolls a craps on the come-out,
the $5 Pass Line loses, but the $1 Any Craps wins. The casino odds for Any Craps is 7:1, so the
player wins $7. The player believes that the $1 Any Craps bet "protects" the $5 Pass Line bet
from losing on the come-out roll.
Another less common craps hedge bet is using a $1 Hard 6 or 8 to help protect the player's Don't
Pass with Odds. For example, suppose you make a $5 Don't Pass bet, the point is 8, and you
then lay $12 in Odds against the point. You then make a $2 Hard 8 bet to essentially take away
one of the ways you can lose the Don't Pass. If the shooter makes her point by rolling 8 the
Hardway (i.e., 4-4), your Don't Pass with Odds lose. However, in this example, the shooter
made her point by rolling 8 the Hardway, so your $2 Hard 8 bet wins. Casino odds for the Hard 8
are 9:1, so you win $18. Therefore, your $17 Don't Pass with Odds bets lose but you're
"protected" because your Hard 8 bet wins $18. The bad news about this hedge bet is that, if
the shooter makes her point the easy way (i.e., 6-2, 2-6, 5-3, or 3-5), then you lose both your
Don't Pass and Hard 8 bets.
Hedging sounds fairly smart, right? In the short-term, maybe. In the long-term, definitely not.
If you hit a 20-minute stretch of time where the distribution goes crazy and every other roll
produces a 2, 3, or 12, then maybe a $1 Any Craps is a good hedge to protect your Pass Line
bet. Maybe. If it works and you win a few Any Craps bets, then the table will think you're a
genius. But in the long-term, you'll lose. The crazy variance in the distribution that shows a 2,
3, or 12 every other roll won't last long. Therefore, if you consistently hedge your bets, you'll
lose over time. Why?
Remember, for the player, craps is a negative expectation game. Everything on the table
(except the true odds bet) is a negative for the player. No possible combination of
negative-expectation bets exists that yields a positive expectation. In other words, you can't
mix two or more negative-expectation bets into something that's in your favor. It's important to
understand that concept. Using a bad bet (e.g., Any Craps, Hardway) to hedge a good bet
(e.g., Pass Line, Don't Pass) only makes the good bet worse. You must learn craps rules.
If you can't control the urge to use hedges, then do it carefully. You might think, "What
difference does it make? It's only a buck. A measly buck is worth it to protect my $5 Pass
Line." That kind of thinking will take you straight to the poor house. Those measly $1 chips
quickly add up over a few hours of play. Before you know it, you've peed away $50 on hedge
bets and you're scratching your head wondering where your money went.
For more valuable information on how to play casino craps, read my FREE articles (click on an
article title to the left). Better yet, order the Ebook to get all the information you need to play
craps like a Vegas pro without losing your shirt.
another. You'll frequently see players make a $5 (or $10) Pass Line bet and then hedge it with a
$1 Any Craps bet. If the shooter rolls anything but a craps on the come-out roll, the Any Craps
bet loses (but it's only $1, so it's not too painful). If the shooter rolls a craps on the come-out,
the $5 Pass Line loses, but the $1 Any Craps wins. The casino odds for Any Craps is 7:1, so the
player wins $7. The player believes that the $1 Any Craps bet "protects" the $5 Pass Line bet
from losing on the come-out roll.
Another less common craps hedge bet is using a $1 Hard 6 or 8 to help protect the player's Don't
Pass with Odds. For example, suppose you make a $5 Don't Pass bet, the point is 8, and you
then lay $12 in Odds against the point. You then make a $2 Hard 8 bet to essentially take away
one of the ways you can lose the Don't Pass. If the shooter makes her point by rolling 8 the
Hardway (i.e., 4-4), your Don't Pass with Odds lose. However, in this example, the shooter
made her point by rolling 8 the Hardway, so your $2 Hard 8 bet wins. Casino odds for the Hard 8
are 9:1, so you win $18. Therefore, your $17 Don't Pass with Odds bets lose but you're
"protected" because your Hard 8 bet wins $18. The bad news about this hedge bet is that, if
the shooter makes her point the easy way (i.e., 6-2, 2-6, 5-3, or 3-5), then you lose both your
Don't Pass and Hard 8 bets.
Hedging sounds fairly smart, right? In the short-term, maybe. In the long-term, definitely not.
If you hit a 20-minute stretch of time where the distribution goes crazy and every other roll
produces a 2, 3, or 12, then maybe a $1 Any Craps is a good hedge to protect your Pass Line
bet. Maybe. If it works and you win a few Any Craps bets, then the table will think you're a
genius. But in the long-term, you'll lose. The crazy variance in the distribution that shows a 2,
3, or 12 every other roll won't last long. Therefore, if you consistently hedge your bets, you'll
lose over time. Why?
Remember, for the player, craps is a negative expectation game. Everything on the table
(except the true odds bet) is a negative for the player. No possible combination of
negative-expectation bets exists that yields a positive expectation. In other words, you can't
mix two or more negative-expectation bets into something that's in your favor. It's important to
understand that concept. Using a bad bet (e.g., Any Craps, Hardway) to hedge a good bet
(e.g., Pass Line, Don't Pass) only makes the good bet worse. You must learn craps rules.
If you can't control the urge to use hedges, then do it carefully. You might think, "What
difference does it make? It's only a buck. A measly buck is worth it to protect my $5 Pass
Line." That kind of thinking will take you straight to the poor house. Those measly $1 chips
quickly add up over a few hours of play. Before you know it, you've peed away $50 on hedge
bets and you're scratching your head wondering where your money went.
For more valuable information on how to play casino craps, read my FREE articles (click on an
article title to the left). Better yet, order the Ebook to get all the information you need to play
craps like a Vegas pro without losing your shirt.
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