| Play smart...learn how to play casino craps the right way! |
| Calculating the House Advantage by William J. Enslen, Jr. |
Be smart, play smart, and learn how to play craps the right way.
Although concise and not as in-depth as my ebook, this article shows you how the casino gets its advantage over the
player. My book, The Secret to Craps: The Right Way to Play, clearly and logically explains all aspects of the math,
distributions, variances, calculating odds, and everything else you need to know to become a truly knowledgeable craps
player. When you understand the math and the fact that casinos pay less-than-true odds, you understand why you can't
beat the casino when craps betting over the long haul. The following simple comparison between two bet types
demonstrates two fundamentals that the player must fully understand before putting money on the table. Let's look at the
Place 6 bet and the Big 6 bet.
With these two bets, we bet the number 6 against the number 7.
Knowing there are 36 possible two-dice combinations, let's assume we experience a "perfect distribution" where, in 36 rolls,
the number 6 appears five times and the number 7 appears six times (my book explains the easy math for calculating how
many times a number appears in a 36-roll perfect distribution). When betting the 6 against the 7 over 36 rolls, we make a
total of 11 bets (i.e., we win five times when the 6 appears and we lose six times when the 7 appears; therefore, 5 + 6 =
11). It's important to understand that the casino takes a set percentage out of every possible bet (except the free Odds
bet). So, instead of true odds, they screw the player by paying casino odds, which are less-than-true. Given these basic
assumptions, let's look closer at the Place 6 and the Big 6.
The Place 6: To get the full Place odds (i.e., casino odds of 7:6, which are less than the true odds of 6:5), assume we bet
$6 on each of the 11 bets. (The 7:6 odds means for each $6 bet that we win, we win $7.) Therefore, our total bet
investment is $66 (i.e., 11 x $6 = $66). We win five bets when the 6 appears; therefore, we win $35 (i.e., 5 x $7 = $35). We
lose six bets when the 7 appears; therefore, we lose $36 (6 x $6 = $36).
By winning $35 and losing $36, our net loss is $1. We determine the house advantage by dividing our $1 net loss by our
$66 total investment, which results in a 1.52% house advantage (i.e., 1 / 66 = 0.01515, which equals 1.52%). A 1.52%
house advantage means we can expect to lose an average of about $0.15 for every $10 bet.
The Big 6: This is an even-money bet (i.e., casino odds of 1:1), which means if we bet $6 and win, we win $6. Like the
Place 6, our total betting investment is $66 over a 36-roll perfect distribution (i.e., $6 x 11 = $66). We win five bets when
the 6 appears; therefore, we win $30 (i.e., 5 x $6 = $30). We lose six bets when the 7 appears; therefore, we lose $36 (i.e.,
6 x $6 = $36). By winning $30 and losing $36, our net loss is $6. We determine the house advantage by dividing our $6
net loss by our $66 total investment, which results in a whopping 9.09% house advantage (i.e., 6 / 66 = 0.0909, which
equals 9.09%). A 9.09% house advantage means we can expect to lose an average of about $0.91 for every $10 bet.
Remember, the Big 6 is like the Place, not the Buy bet, so get confuse the two.
Although each bet is the same amount (i.e., $6), which do you think is the better bet and which do you think is the stupid
bet in terms of the player? Yes, very good! See how easy this is? (Don't fear the math. My book explains it in simple
terms.) The $6 Place 6 is a much smarter bet than the Big 6. I don't know about you, but I'd rather lose an average of only
$0.15 for every $10 bet than an average of $0.91 per $10 bet. This simple example clearly demonstrates two fundamentals
the player must fully understand: 1) Over time, the player cannot conquer the house advantage and beat the casino, and
2) Certain bets are better than others in terms of the player because of their lower house advantage.
My ebook, The Secret to Craps: The Right Way to Play, teaches you the math in an easy-to-understand method similar to
the example above, but with more detailed explanations. You'll also learn the house advantage for every bet on the table
so you know which to make and which to avoid.
So, if the casino has a built-in house advantage that no one can beat over time, why do knowledgeable players bother
playing? If we're all doomed to long-term failure, why play? Two reasons: 1) The incredible fun and excitement that we
experience at a craps table, and 2) The phenomenon called "distribution variance." We rarely experience a perfect
distribution in the relatively short time that we play because variance sneaks into the equation. Understanding variance
and how to use it to our advantage is a prerequisite to learning the secret to casino craps. And that secret, my friend, is
clearly explained in my book. So, what are you waiting for? The $25 price tag is a small price to pay for the knowledge
you'll gain from this book. Knowledge is money. And more knowledge is more money.
Now you know! Remember, be smart, play smart, and learn how to play craps the right way.
back to Articles
Although concise and not as in-depth as my ebook, this article shows you how the casino gets its advantage over the
player. My book, The Secret to Craps: The Right Way to Play, clearly and logically explains all aspects of the math,
distributions, variances, calculating odds, and everything else you need to know to become a truly knowledgeable craps
player. When you understand the math and the fact that casinos pay less-than-true odds, you understand why you can't
beat the casino when craps betting over the long haul. The following simple comparison between two bet types
demonstrates two fundamentals that the player must fully understand before putting money on the table. Let's look at the
Place 6 bet and the Big 6 bet.
With these two bets, we bet the number 6 against the number 7.
Knowing there are 36 possible two-dice combinations, let's assume we experience a "perfect distribution" where, in 36 rolls,
the number 6 appears five times and the number 7 appears six times (my book explains the easy math for calculating how
many times a number appears in a 36-roll perfect distribution). When betting the 6 against the 7 over 36 rolls, we make a
total of 11 bets (i.e., we win five times when the 6 appears and we lose six times when the 7 appears; therefore, 5 + 6 =
11). It's important to understand that the casino takes a set percentage out of every possible bet (except the free Odds
bet). So, instead of true odds, they screw the player by paying casino odds, which are less-than-true. Given these basic
assumptions, let's look closer at the Place 6 and the Big 6.
The Place 6: To get the full Place odds (i.e., casino odds of 7:6, which are less than the true odds of 6:5), assume we bet
$6 on each of the 11 bets. (The 7:6 odds means for each $6 bet that we win, we win $7.) Therefore, our total bet
investment is $66 (i.e., 11 x $6 = $66). We win five bets when the 6 appears; therefore, we win $35 (i.e., 5 x $7 = $35). We
lose six bets when the 7 appears; therefore, we lose $36 (6 x $6 = $36).
By winning $35 and losing $36, our net loss is $1. We determine the house advantage by dividing our $1 net loss by our
$66 total investment, which results in a 1.52% house advantage (i.e., 1 / 66 = 0.01515, which equals 1.52%). A 1.52%
house advantage means we can expect to lose an average of about $0.15 for every $10 bet.
The Big 6: This is an even-money bet (i.e., casino odds of 1:1), which means if we bet $6 and win, we win $6. Like the
Place 6, our total betting investment is $66 over a 36-roll perfect distribution (i.e., $6 x 11 = $66). We win five bets when
the 6 appears; therefore, we win $30 (i.e., 5 x $6 = $30). We lose six bets when the 7 appears; therefore, we lose $36 (i.e.,
6 x $6 = $36). By winning $30 and losing $36, our net loss is $6. We determine the house advantage by dividing our $6
net loss by our $66 total investment, which results in a whopping 9.09% house advantage (i.e., 6 / 66 = 0.0909, which
equals 9.09%). A 9.09% house advantage means we can expect to lose an average of about $0.91 for every $10 bet.
Remember, the Big 6 is like the Place, not the Buy bet, so get confuse the two.
Although each bet is the same amount (i.e., $6), which do you think is the better bet and which do you think is the stupid
bet in terms of the player? Yes, very good! See how easy this is? (Don't fear the math. My book explains it in simple
terms.) The $6 Place 6 is a much smarter bet than the Big 6. I don't know about you, but I'd rather lose an average of only
$0.15 for every $10 bet than an average of $0.91 per $10 bet. This simple example clearly demonstrates two fundamentals
the player must fully understand: 1) Over time, the player cannot conquer the house advantage and beat the casino, and
2) Certain bets are better than others in terms of the player because of their lower house advantage.
My ebook, The Secret to Craps: The Right Way to Play, teaches you the math in an easy-to-understand method similar to
the example above, but with more detailed explanations. You'll also learn the house advantage for every bet on the table
so you know which to make and which to avoid.
So, if the casino has a built-in house advantage that no one can beat over time, why do knowledgeable players bother
playing? If we're all doomed to long-term failure, why play? Two reasons: 1) The incredible fun and excitement that we
experience at a craps table, and 2) The phenomenon called "distribution variance." We rarely experience a perfect
distribution in the relatively short time that we play because variance sneaks into the equation. Understanding variance
and how to use it to our advantage is a prerequisite to learning the secret to casino craps. And that secret, my friend, is
clearly explained in my book. So, what are you waiting for? The $25 price tag is a small price to pay for the knowledge
you'll gain from this book. Knowledge is money. And more knowledge is more money.
Now you know! Remember, be smart, play smart, and learn how to play craps the right way.
back to Articles
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