Odds in the game of craps

When playing craps the odds are not much different from any other casino game. On this page you will find information on general craps odds. The concept of craps odds is better understood if you have already an idea about the free odds.

Making a free odds bet is very advantageous for the player. This type of bet is actually a fair bet, which means that the house has no inherent advantage. You may not find another fair bet in the whole casino, at any other casino game. But there is a catch. Before making a free odds bet you must, and you've guessed it, make a "negative expectation bet". This means the house does not allow you to make a fair bet until you make a negative expectation bet first.

A fair bet means that when you have won you will be paid according to the odds that you have just beaten. Let's take an example in order to understand this better. Let's say that you have bet $5 on a coin toss. The chances of you winning are 50%. If you win then you should get your initial $5 back and another $5 as the winning payout. The odds against you were 50% and you managed to beat them. You should be paid accordingly. A negative expectation bet means that you will not get $5 as the winning payout. Instead you will get your initial $5 and another $4 as the winning payout for example.

This is exactly how things work in a casino. Every bet that you make is not fair, it is a negative expectation bet. You are never paid true odds. This means that if you have won a bet that had 38 to 1 odds, like when placing a bet on a roulette number, you will not get a 38 to 1 payout. Instead you will get a 35 to 1 payout. The casinos use negative expectation bets as a way to make money. That is why he house always wins. It doesn't play fair.

The good thing about playing craps is that it at least offers a form of fair bets, unlike other casino games. You will undoubtedly make free odds bets when playing craps. We hope that you have understood their purpose and that they offer a fair payout, unlike Pass line and Don't pass line bets that do not pay true odds.