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Craps "Odds" Bet: Page 3 of Sample Learning How to Play Craps

- DICE ILLUSTRATED -

Contrary to the CONTRACT "FLAT" bet rule, that this "FLAT" bet must remain in play, bettors MAY remove any "ODDS" bets from the game at any time prior to their decision roll. Since they pay winning "FLAT" bets NOTHING extra, the casinos do allow "FLAT" bets to be waged ALONE without the "ODDS" bet, but NEVER vice versa.

Winning "ODDS" bets "FOR" #6 or #8 are paid 6 to 5, while "FLAT" bets are paid even-money. Not paying the CONTRACT "FLAT" bet 6 to 5 saves casinos 1 out of every 6 they should pay each of these "FLAT" bets. 1 IS what % OF 6? 1 divided by 6 = .1667. Casinos save 16.67% on #6 and #8 CONTRACT "FLAT" bets that they pay.

Winning "ODDS" bets on #5 or #9 are paid 6 to 4 while their "FLAT" bets are paid even-money. Not paying 6 to 4 saves casinos 2 out of every 6 they should pay this "FLAT" bet. 2 IS what % OF 6? 2 divided by 6 = .3333. Casinos save 33.33% on #5 and #9 "FLAT" bets they pay.

Winning "ODDS" bets on #4 or #10 are paid 6 to 3, while "FLAT" bets are paid even-money. Not paying 6 to 3 saves casinos 3 out of every 6 they should pay this "FLAT" bet. 3 IS what % OF 6? 3 divided by 6 = .50. The casinos save 50.00% on every #4 and #10 CONTRACT "FLAT" bet they pay.

By never paying extra to CONTRACT "FLAT" bets, casinos save 16% to 50% on what they should pay these bets. If you were a casino owner, which part of this TWO-PART wager would you prefer to see players wage, the CONTRACT "FLAT" bet or the "ODDS" bet?

"ODDS" TO "FLAT" RATIOS

When waged together, the CONTRACT "FLAT" bet and the "ODDS" bet comprise the ENTIRE volume of a player's risk in which one part gets paid extra while the other part does not. Because the "ODDS" portion is the ONLY part that gets paid extra, it makes sense that the greater the volume of the "ODDS" bet is, relative to the whole of BOTH parts, the more the player benefits.

On the contrary, because the CONTRACT "FLAT" bet pays NOTHING extra to the winning bettor, the greater the volume of the "FLAT" bet is, relative to the whole, the more it benefits the casino. For example, if a player wages the CONTRACT "FLAT" bet by itself, without the "ODDS" bet, the portion that benefits the casino comprises 100%.

On the other hand, if a player wages 50% (of the whole) in the CONTRACT "FLAT" bet and the other 50% in the "ODDS" bet, each part comprises one-half of the whole amount at risk.

The ENTIRE amount waged is now comprised of a 50% portion which is of more benefit to the casino and a 50% portion which is of more benefit to the player.

If a player wages a $5 "FLAT" bet accompanied by a $15 "ODDS" bet (next illustration), the proportion is 25% to the casino's benefit and 75% to the player's benefit.

A $15 "ODDS" bet with a $5 CONTRACT "FLAT" bet is an "ODDS" to "FLAT" ratio of 3 to 1. In other words, the amount in the "ODDS" bet is TRIPLE the "FLAT" bet amount (75/25). That's much more beneficial to the bettor than a "SINGLE ODDS" craps table specifying a maximum limit of 1 to 1 as its "ODDS" to "FLAT" ratio (50/50).

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