The Craps “Odds Bet”
When we look at craps strategies, the only thing that ultimately matters is the house edge – the lower, the better. There are a few normal wagers that can do a pretty good job (1.40% for the Don’t Pass and Don’t Come bets) but to really reduce the house’s inherit advantage, we will have to go a bit further from the beaten path. This is where the Odds Bet comes into play. The Odds Bet is the only wager in the game that is paid out fairly, meaning that it carries no house edge! Of course, there is a catch. You must first make a Pass Line bet (which has a 1.41% edge) before any Odds Bets can be made.
The general idea is to make the largest Odds Bet possible, but casinos typically limit the size of odds bets as a function of the size of the underlying line bet. If you can find the infamous 100x allowed odds, you can actually reduce the houses edge to a paltry 0.02%. A more common option is called 3-4-5x odds. This means your odds bet can be worth 3x your line bet on a point of four or ten, 4x your wager when the point is five or nine, and 5x your wager when the point is six or eight. There are a number of other multiples a casino can use when capping Odds Bets, so take some time to shop around for the highest limit possible.
Bet Smart and Play Better Craps
No matter what option your casino offers, though, you should always play the largest option possible. For a game with 100x odds, that probably means that you will be significantly reducing the size of your line bet! Using the Odds Bet is the key to reducing the house edge as much as possible when playing craps, so why don’t most players take advantage of this great tool? The biggest reason is that most players aren’t sure of how to play this bet. If you are still unsure, do not be afraid to ask the croupier for advice. The other reason is that the Odds Bet is far from exciting – if you want the best chance possible, you will have to leave the One Roll Bets at the door.