Craps may look complicated to new players, but once you understand the basic gameplay, odds bets rise above as the best bets you can make. With little to no house edge, high payouts and the ability to maximize winnings, odds bets are essential for craps strategy.
But if you’re new to craps odds bets, terminology like “true odds” and “payout odds” can get confusing fast. This article will break down everything you need to know, including:
What Are True Odds and Payout Odds
Simply put, true odds refer to the actual mathematical probability of an event occurring. Payout odds at Mr Play Casino refer to how much the casino pays you if you win the bet.
Why True Odds Matter in Craps
In most casino games, the payout odds are lower than the true odds in order to give the house an edge. For example, the true odds of rolling a 6 on a single die are 1 in 6, or 16.67%. If the payout odds were 16.67% on a bet, then players and the house would break even in the long run.
But with craps odds bets, the payout odds are exactly the same as the true odds – no casino advantage baked in. That makes odds bets the best in the casino.
No House Edge on Odds Bets
One of the golden rules of gambling is that the house always wins in the end. This is because every casino game has a built-in house edge that lets the casino profit over hundreds of thousands of bets.
But because craps odds bets pay out at true odds, there is no house edge. You have a fair shot to win over time. This gives craps players a unique opportunity not found in other casino games.
How Payout Odds and True Odds Differ in Craps
To show why true odds matter so much, let’s look at an example payout odds vs true odds on the 6 & 8 place bets:
- Payout Odds: 7 to 6
- True Odds: 6 to 5
The place bets pay $7 for every $6 bet if you win. But the actual probability is slightly lower at 6/11, or 54.54%.
This small difference is where the house gets a 1.52% edge on the 6 & 8 place bets.
Now compare that to the 6 & 8 odds bets:
- Payout Odds: 6 to 5
- True Odds: 6 to 5
With the odds bets, the payout matches the true odds. This removes the house edge and gives the player better returns over time.
How to Maximize Winnings on Odds Bets
To optimize craps strategy around odds bets:
- Always take odds when possible
- Take full odds for the biggest payouts
- Put more money on the odds bets than the original pass/don’t pass bet
Because the odds bets pay at true odds with no house edge, you want to bet big. Casinos generally allow 5x-100x odds, meaning you can bet 5 to 100 times more on the odds than your original bet. The higher the multiple, the better.
Craps Odds Bets Payout Chart
Here is a comparison of the payout odds and true odds on craps odds bets:
| Bet | Payout Odds | True Odds | House Edge |
| 4 & 10 | 2 to 1 | 2 to 1 | 0% |
| 5 & 9 | 3 to 2 | 3 to 2 | 0% |
| 6 & 8 | 6 to 5 | 6 to 5 | 0% |
As you can see, by taking full odds you maximize returns over time. Use this as your guide to craps success.
Conclusion
Understanding the difference between true odds and payout odds is key to excelling at craps. Odds bets pay at true odds, giving savvy players the best odds in the casino. Just remember to always take max odds for the highest potential payouts.
Using this craps odds betting strategy, you can stretch each winning roll into the biggest returns possible. Over time, making the right bets will take your bankroll upwards.
Markmalte is an experienced writer for The Celebrity Niche, specializing in celebrity stories. With a keen eye for detail, he brings the latest updates on celebrity relationships, biographies, and news to his readers.
