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Let's continue our discussion of Place craps bets. To make your bankroll last as long as possible, you should play at a craps table
with the lowest minimum possible, such as a $3 craps table. 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 are
even money, or 1:1. For the Place bet on the 5 or 9, the payoff odds are 4:3 (that is, a $3 Place craps bet will win $4). And for the 10
or 4, the Place odds are 5:3 (that is, a $3 winning Place craps bet wins bet wins $5).
With a $3 Place craps bet, you receive less than full Place bet odds 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 only get even money.
Suppose we make a $3 Place craps bet on the 10 or 4. The full Place bet odds are 9:5. In this example, we divide $3 by 5 to get 60
cents, and 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! 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 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. 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. For the Place craps bet on the number 10, the Place payoff odds are only 9:5, not 1:2 (or 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).
with the lowest minimum possible, such as a $3 craps table. 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 are
even money, or 1:1. For the Place bet on the 5 or 9, the payoff odds are 4:3 (that is, a $3 Place craps bet will win $4). And for the 10
or 4, the Place odds are 5:3 (that is, a $3 winning Place craps bet wins bet wins $5).
With a $3 Place craps bet, you receive less than full Place bet odds 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 only get even money.
Suppose we make a $3 Place craps bet on the 10 or 4. The full Place bet odds are 9:5. In this example, we divide $3 by 5 to get 60
cents, and 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! 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 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. 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. For the Place craps bet on the number 10, the Place payoff odds are only 9:5, not 1:2 (or 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).
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| The Craps Place Bet (page 2) |