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Craps payouts

24 Aug 2019

By Jerry Stickman
Hello Stickman,

Per your article in Casino City Times and RGT Online, you stated that the point numbers
6 and 8 are paid at the rate of 7 to 6. If I'm not mistaken, isn't the payout at 6 to 5
for the point numbers 6 and 8?

Also, was back in Vegas this April and the Four Queens no longer offers 10x odds on all the
point numbers and also still in place at the Four Queens, El Cortez and Main Street Station is
the rule that all bets on the table, including the "taking or laying of odds" must be equal to the line bet, which is $5 at these three casinos. So as I had mentioned to you in an earlier e-mail, about a year ago, the players "taking the odds" must be triple odds on the point numbers
5 and 9, in order to get the right payout and must be $5 on the point numbers 4 and 10.

Vegas gambling for the lower limit player has gone to the "dogs" and craps is being ruined,
just like they did blackjack.

Best Regards,

Harry


Hi Harry,

Thank you for your e-mail.

Actually, the article stated the pays correctly. The payout for place bets on the 6 and 8 is 7-to-6. This means the player should bet a multiple of six dollars in order to get the maximum payout of seven dollars for every six dollars bet. The true odds against hitting a 6 or 8 are 6-to-5, so when placing odds behind a place or come bet, each five dollars in odds pays six dollars. This means that the player should place odds in a multiple of five dollars in order to get the maximum payout.

Notice the difference in the way casinos extract their house edge from place bets versus pass or come bets.

With a place bet, the casino short-pays the player, giving them a rate of 7-to-6 instead of the true odds of 6-to-5. A winning 30-dollar place bet will be paid 35 dollars (30 is six times five and five times seven = 35). True odds would pay 36 dollars. By short-paying the place bet the casino’s house edge is 1.52% edge. This is $1.52 for every 100 dollars bet.

Pass line or come bets pay the base portion at 1-to-1 and the odds portion is paid at true odds. The casino’s edge on pass line and come bets come from the even money payout for the base portion of the bet. A five-dollar pass line bet with 25 dollars in odds (a total of 30 dollars) has a house edge of just one-third of 1%. This works out to just 33 cents per 100 dollars bet.

Concerning taking odds in downtown Las Vegas (or almost anywhere else) many casinos make the minimum odds bet whatever the is bet on the line. You may not like it, but it is the casino’s playground, the casino’s dice, and the casino’s rules.

I touched on it above, but when placing odds behind a pass or come bet, they must be in certain multiples (depending on the point number) in order to receive the maximum payout. The reason for this is the odds of hitting different numbers are different.

The odds against hitting a point of 6 or 8 are 6-to-5. That means on a point of 6 or 8, the odds bet must be a multiple of five dollars so the winning payout can be an even multiple of six. With a three-dollar line bet the minimum odds bet should be five dollars in order to get the maximum return of six dollars. The casino will pay only even money if the odds bet is three dollars.

The odds against hitting a point of 5 or 9 are 3-to-2. That means for a point of 5 or 9 the odds must be an even amount in order to get a payout that is a multiple of three dollars. With a three-dollar line bet, the minimum odds bet should be four dollars in order to get the maximum return of six dollars.

The odds against hitting a point of 4 or 10 are 2-to-1. Because of this, any odds bet will be paid at maximum return. With a three-dollar line bet, the minimum odds bet at these casinos would be three dollars which would pay six dollars on a winning bet.

I hope the above all makes sense to you, Harry.

May all your wins be swift and large and all your losses slow and small.

Jerry “Stickman”

Jerry “Stickman” is an expert in craps, blackjack and video poker and advantage slot machine play. He authored the video poker section of "Everything Casino Poker: Get the Edge at Video Poker, Texas Hold'em, Omaha Hi-Lo, and Pai Gow Poker!" You can contact Jerry “Stickman” at stickmanjerry@aol.com

This article is provided by the Frank Scoblete Network. Melissa A. Kaplan is the network's managing editor. If you would like to use this article on your website, please contact Casino City Press, the exclusive web syndication outlet for the Frank Scoblete Network. To contact Frank, please e-mail him at fscobe@optonline.net.

Craps payouts is republished from CasinoCityTimes.com.
 
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