Craps free odds bet
19/10/ · Free Odds Bet. The Free Odds bet is probably the most powerful one in the game of craps. This type of wager, however, could not be used freely. Players are required to have placed a Pass/Don't Pass bet or a Come/Don't Come bet in order to take advantage of the Free Odds bet. Taking The Odds in Craps. Free odds, also called “Taking the Odds”, can be taken on the pass, don’t pass, come and don’t come bets. When the shooter establishes a point on the come-out roll, any player who has made a pass line bet is allowed to “take the odds.”. Free Odds Bet. The Free Odds bets are among the most important bets to learn in craps, outside of the basic bets. Odds Bets have a house edge of 0%, though their use is limited and the wager can be made only in certain circumstances.
The Free Odds Bet
How much you can bet is expressed as a multiple of your original bet. The payoff formula is the same whether you take single odds, double odds, or more. Multiple Odds The amount you can bet on the Free Odds varies from casino to casino, and is postedon a sign on the table. New Customer Only. If the player takes the maximum oddsthen the payoff will conveniently be seven times the pass or come bet. The casino makes no profit on thisbet. To answer this question we have to back up a bit.
To understand why the Free Odds bet is so important you first have to understandthe house edge. In craps, the house edge on the Pass Line bet is 1. The house edge is the mathematical average for thelong run.
Different bets carry a different house edge. The 1. The Free Odds bet carries no house edge. The casino makes no profit on thisbet. You make a Pass Line bet, and the shooterrolls a number to establish a point 4,5,6,8,9, or Now if the shooter rolls the point again,you not only win your Pass Line bet, you also win the Odds bet. The way the casino makes its profiton all other bets in the casino is by paying less than true odds.
The true odds varies according to the point, and so the payoff varies as well. The amount you can bet on the Free Odds varies from casino to casino, and is postedon a sign on the table. Since the Oddsbet carries no house edge, it pays to seek out casinos that offer the maximum oddspossible. In Vegas you can get better odds downtown vs the strip; many downtowncasinos offer 10x Odds, or even better.
The exception on the strip is the Casino Royale , which offers an amazing x Odds on craps. The Free Odds bethas the effect of diluting the edge of the flat bet you have to make before youcan make the Odds bet.
The odds bet is the best bet you can make in the game of craps, because the house has no built-in advantage. Besides the fact that the odds bet has no house edge associated with it, also it has no official designated space on the dice table. Therefore, to place a pass line bet with odds you need first to make your pass line bet and then, after a point is set you take more chips and place them behind your pass line bet.
The odds bet wins if your flat bet original bet wins and losses if your flat bet loses. Some casinos permit players to make double odds, and even greater odds wagers. Usually you will see a printed sign on the table to let you know how much you can bet on free odds and if there are no signs, the dealer will tell you. How much you can bet is expressed as a multiple of your original bet.
You are allowed to remove your odds wager from the craps table at any time, as a casino does not object to your taking down a bet that has no house edge. As we said before, free odds can be taken on come bets also. So, to make a come bet with odds you simply need to tell the dealer you want to back up your come bet with odds and put your odds bet down, but only after your come point has been set.
The correct payoff for odds bets varies from point number to point number, depending on the odds of a 7 being rolled before a particular point is repeated. The payoff formula is the same whether you take single odds, double odds, or more.
Correct odds payoffs are as follows: points 4 and 10 pay 2-to-1; points 5 and 9 pay 3-to-2; points 6 and 8 pay 6-to Each Casino reserves the right to cancel or change promotions at any time. New Customer Only. Please play responsibly.
The shooter can establish points of 4,5,6,8,9 or Some points 6 and 8 are more likely to be "made" than other points because there are more ways to roll them:. Clearly a point of 6 or 8 gives you the best odds of winning when a point is established. The following are the mathematical odds also called the "true odds" of the various points being "made" before a 7 is rolled and what the payout on the Odds bet is:.
When you have a Pass Line bet down and once a point is established, you can also put down an additional bet known as an Odds bet. Winning Pass Line bets pay off at even money. Odds bets pay off at the "true odds" of making the current point. As a result, it is better to "put down odds" rather than to simply place a higher Pass Line bet. The fact that the payout is equal to the true odds of making the point, this bet is also referred to as "free odds" because the house doesn't take a "cut" of the payout.
However, if a 7 is rolled, you lose both your Pass Line and Odds bets. The bet chips are placed directly behind your Pass Line bet on the layout after a point is established. Most Las Vegas Strip casinos offer "double odds" aka "2x odds" at their craps tables.
This means that you can place an Odds bet up to double the amount of your Pass Line bet. There are two things to keep in mind when placing Odds bets:. For more aggressive betting, you could also place Odds bets up to double your Pass Line bet on the "less-likely-to-be-made points" and the payoff will be at those odds for points of 4 or 10, and for points of 5 or 9. All the "experts" say that it is foolish not to put down the maximum Odds bets allowed on all points but I suspect they have more money than we do.
To try and take advantage of Odds bets without bleeding money at a cold table, I normally adjust my Odds bets according to the odds of making the point. I will put down the maximum Odds bet for points of 6 or 8 because they are the most likely to be made. However, I will lower the amount based on the odds of making the point.