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| Remember, learn how to play casino craps the right way! My book teaches you to play in reality, not Fantasyland. |
Let's continue our discussion of Place craps bets. In a previous article, we were introduced to the Craps Place bet. Let's
continue here.... To make your bankroll last as long as possible (which is what every craps players wants), you should play at a
craps table with the lowest minimum possible, such as a $3 craps table. There are still a few of these cheap tables left in Vegas, but
not many. Your best bet at finding one is to go off-Strip to a nice locals casino. At a $3 craps table, you can make $3 Place craps
bets, but you don't get the full Place odds when you make a Place bet that's not a multiple of $6. The payoff for a $3 Place craps bet
on the 6 or 8 is even money, or 1:1. For the $3Place bet on the 5 or 9, the payoff odds are 4:3 (that is, a $3 Place craps bet will win
$4). And a $3 Place bet for the 10 or 4, the Place odds are 5:3 (that is, a $3 winning Place craps bet wins bet will win $5). These
reduced Place odds for a $3 Place bet aren't quite as good as they are for a bet that's a multiple of $6. With a small $3 Place craps
bet, you receive less than full Place bet odds (which are 7:6) because the lowest chip amount that casinos allow is usually a $1 chip.
The casino can't pay you a fraction of a dollar, so they round the odds down so you get a whole-dollar amount.
Suppose we make a $3 Place craps bet on the 10 or 4. The full Place bet odds are 9:5. In this example if we apply the full Place odds
to the $3 bet, we divide $3 by 5 to get 60 cents, and then we multiply 60 cents by 9 to get $5.40. For a $3 Place craps bet on the 10
or 4 with full Place odds of 9:5, we want to win $5.40. However, the casino doesn't have a 40-cent chip, so it rounds down the winning
amount from $5.40 to only $5. Yes, they round DOWN instead of up! They screw you! Even though the casino screws you by not
paying you the 40 cents, you aren't sacrificing much when you make a $3 Place craps bet because it's only 40 cents. If your bankroll
is small, then the $3 Place craps bet is an okay bet because it allows you to have more fun by getting more bets in action without
spending a lot of money.
As we know, full Place odds are never as good as true odds. The casino keeps its casino advantage over the player by not offering true
odds on Place craps bets. The casino's goal is to make a profit so, over time, the casino will win because they don't have to pay you
your fair share when you win the bet (remember, the Place odds are not as good as the true odds and they're in the casino's favor, so
the casino always comes out a winner over the long-term). By paying you less than true odds when you win, the casino will always
end up the winner after a long enough period of time.
Suppose we Place bet the number 10. The true odds on a 10 against the 7 are 1:2. Therefore, because the number 7 is twice as easy
to make as the number 10, you want to be paid two times as much when you win. So, for a $5 bet on the number 10, if you win, you
want to win $10 (i.e., $5 x 2 = $10). For the Place craps bet on the number 10, the Place payoff odds are only 9:5, not 1:2 (which is
the same 10:5). So if you make a $5 Place craps bet on the number 10 and you win the bet, the casino only pays you $9 (that is, the
true odds say the casino should pay you $10 when you win, but it screws you by paying you only $9).
We'll continue discussing the craps Place bet in the next article.
continue here.... To make your bankroll last as long as possible (which is what every craps players wants), you should play at a
craps table with the lowest minimum possible, such as a $3 craps table. There are still a few of these cheap tables left in Vegas, but
not many. Your best bet at finding one is to go off-Strip to a nice locals casino. At a $3 craps table, you can make $3 Place craps
bets, but you don't get the full Place odds when you make a Place bet that's not a multiple of $6. The payoff for a $3 Place craps bet
on the 6 or 8 is even money, or 1:1. For the $3Place bet on the 5 or 9, the payoff odds are 4:3 (that is, a $3 Place craps bet will win
$4). And a $3 Place bet for the 10 or 4, the Place odds are 5:3 (that is, a $3 winning Place craps bet wins bet will win $5). These
reduced Place odds for a $3 Place bet aren't quite as good as they are for a bet that's a multiple of $6. With a small $3 Place craps
bet, you receive less than full Place bet odds (which are 7:6) because the lowest chip amount that casinos allow is usually a $1 chip.
The casino can't pay you a fraction of a dollar, so they round the odds down so you get a whole-dollar amount.
Suppose we make a $3 Place craps bet on the 10 or 4. The full Place bet odds are 9:5. In this example if we apply the full Place odds
to the $3 bet, we divide $3 by 5 to get 60 cents, and then we multiply 60 cents by 9 to get $5.40. For a $3 Place craps bet on the 10
or 4 with full Place odds of 9:5, we want to win $5.40. However, the casino doesn't have a 40-cent chip, so it rounds down the winning
amount from $5.40 to only $5. Yes, they round DOWN instead of up! They screw you! Even though the casino screws you by not
paying you the 40 cents, you aren't sacrificing much when you make a $3 Place craps bet because it's only 40 cents. If your bankroll
is small, then the $3 Place craps bet is an okay bet because it allows you to have more fun by getting more bets in action without
spending a lot of money.
As we know, full Place odds are never as good as true odds. The casino keeps its casino advantage over the player by not offering true
odds on Place craps bets. The casino's goal is to make a profit so, over time, the casino will win because they don't have to pay you
your fair share when you win the bet (remember, the Place odds are not as good as the true odds and they're in the casino's favor, so
the casino always comes out a winner over the long-term). By paying you less than true odds when you win, the casino will always
end up the winner after a long enough period of time.
Suppose we Place bet the number 10. The true odds on a 10 against the 7 are 1:2. Therefore, because the number 7 is twice as easy
to make as the number 10, you want to be paid two times as much when you win. So, for a $5 bet on the number 10, if you win, you
want to win $10 (i.e., $5 x 2 = $10). For the Place craps bet on the number 10, the Place payoff odds are only 9:5, not 1:2 (which is
the same 10:5). So if you make a $5 Place craps bet on the number 10 and you win the bet, the casino only pays you $9 (that is, the
true odds say the casino should pay you $10 when you win, but it screws you by paying you only $9).
We'll continue discussing the craps Place bet in the next article.
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| The Craps Place Bet (page 2) |