Best Way To Bet On Craps Table
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- How To Bet On Craps Table
House Edge on Placing the 6 and 8 in Craps.
I recently received the following:
The best bet in craps is the Pass/Don't Pass and the Come/Don't Come bets. When the bet resolves on the first roll of the dice, place another pass line or don’t pass line wager. When a point is set, place an odds wager. Ask the casino person how to place an odds wager. The odds wager is one of the best wagers in the casino because it has a 0% edge. These are the only two wagers you should ever place at the craps table. The best way is to make the Place Bet on the 6 or 8 because it has the lowest house edge (1.52%). A Place Bet on 6 or 8 wins and losses as follows: Wins if the 6 (or 8) repeats before a 7 appears. Payoff is 7 to 6 meaning for every $6 you wager you win $7. The pass line is the fundamental bet on the craps table. Just like in other casino games, the basic bet is usually the one that carries one of the lowest house edges. The principle of the pass line is simple. After wagering on the pass line, the shooter will roll to establish a point in the come-out roll.
Jerry:
Let me say up front I love the GTC site, etc. Just wish I had known about this stuff instead of counting cards in the late seventies.
I have never seen a publication with the correct data re: the following 2 points.
By the way I expect full RFB and a hooker in return for this info Â… LOL
Start by placing $5 on the pass line and $5 on the field bet before the come-out roll. If you can find a table that pays triple on the 12 or 2, this Craps system will work even better. Perfect scenario would be for a.
- Placing the 6 and 8.
Consider a $6 place bet on the 6. There are only 11 happenings out of 36 in this universe that produce a decision: 5 wins x $7 and 6 losses of $6 for a net loss of 1 unit. Having bet 11 X $6 the loss is 1/66 or -1.51515%.
However, consider a $6 place bet on BOTH the 6 and 8 simultaneously. Now we have a 16 possible game. If we look at the P & L as each of the possible outcomes occurs, we see that we get 10 X $7 = +$70 and 6 X -$12 = -$72 for a loss of $2. However our total money at risk was $12 X 16 = $192. A loss of $2 in $192 is a losing percent of only 1.0416666667 (or 1 and 1/24 %). - < the second point will be addressed in a future article >
Dear Tony,
You have an interesting way of looking at these bets. On the surface it appears quite logical. However, you must do a separate calculation for each bet - placing the 6 and placing the 8. You cannot lump them together, since they are two distinct bets. Each bet would have about a -1.52% edge.
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Since you will probably not take the statement above as proof, let's look at this in another way.
You are using the correct formula for calculating the edge for each bet: Sum of all profit (or Loss) divided by the sum of all bets made. Consider the following table.Roll | Roll Frequency | Profit / Roll | Pro-rated Profit | New Bets After Roll | Pro-rated Bets/Roll |
2 | 2.78% | $0.00 | $0.00 | $0.00 | $0.00 |
3 | 5.56% | $0.00 | $0.00 | $0.00 | $0.00 |
4 | 8.33% | $0.00 | $0.00 | $0.00 | $0.00 |
5 | 11.11% | $0.00 | $0.00 | $0.00 | $0.00 |
6 | 13.89% | $70.00 | $9.72 | $60.00 | $8.33 |
7 | 16.67% | -$120.00 | -$20.00 | $120.00 | $20.00 |
8 | 13.89% | $70.00 | $9.72 | $60.00 | $8.33 |
9 | 11.11% | $0.00 | $0.00 | $0.00 | $0.00 |
10 | 8.33% | $0.00 | $0.00 | $0.00 | $0.00 |
11 | 5.56% | $0.00 | $0.00 | $0.00 | $0.00 |
12 | 2.78% | $0.00 | $0.00 | $0.00 | $0.00 |
Total | 100.00% | -$0.56 | $36.67 |
In order to determine the edge of any bet we need to determine the profit from each roll. To do that we need to multiply the bet by the roll frequency to come up with the 'Pro-rated Profit' Then we must determine the 'Pro-rated Bets/Roll' by multiplying the new bets after roll by the roll frequency. You calculate the edge by dividing the 'Pro-rated Profit' by the 'Pro-rated Bets/Roll.'
In the above table I used larger bets to get more accuracy in the final calculations. Using the numbers above the edge would be -.56 divided by 36.67 or -1.527 percent - not -1.04 percent.
How To Bet Craps
Tony, you still may not take the above as proof, possibly thinking I am playing with numbers, but will you take the results of a simulation?
Best Bet On Craps Table
Using the Smart Craps simulator, I set up a simulation which assumed a random thrower betting a $30 6 and a $30 8. The simulation ran for 10,000,000 rolls of the dice (actually 10,000,003 rolls in order to finish the last hand). The result --- an expected edge of -1.521498 percent.
Three strikes and you are out. All the other books are right - the house edge on placing the 6 and 8 is 1.52 percent, not 1.04 percent.
Sorry Tony, no RFB and no hooker on this one.
Jerry 'Stickman' is an expert in craps, blackjack and video poker. He is a regular contributor to top gaming magazines. The 'Stickman' is also a certified instructor for Golden Touch™ Craps and Golden Touch™ Blackjack. For more information visit www.goldentouchcraps.com or www.goldentouchblackjack.com or call 1-800-944-0406. You can contact Jerry 'Stickman' at stickmanGTC@aol.com
Best Way To Bet On Craps Table Game
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