Betting in Craps: Buy Bets
Can you actually “buy” a bet in Craps? You bet you can!!
A “buy bet” is a multi roll bet that is similar to a Place Bet. It is a bet placed on a number, with the hope that the number will come up before a “7” is rolled. However, unlike a “place bet”, playing a buy bet is what is known as “true odds” bet. In other words, the payout is based on the real probability in terms of rolling a specific combination. In terms of numbers being chosen, a player can select from the following numbers: 4, 5, 6, 8, 9, and 10.
The name “buy bet” comes from a commission the bettor pays (hence “buying the bet”.) In some casinos, the buy bet’s commission is usually paid for regardless of winning or losing, but there have been some changes to that policy in more recent years. Thus, depending on your venue, the commission is actually charged whenever a player either wins the buy bet, or it can serve as a one-time fee to actually buy the number. In the cases of commissions that are charged by wins, the payout is often taken from a winning payoff.
“Is the commission very high”, you ask? It’s generally about five percent, so be sure to factor that into your budget, and this is usually not recommended unless you are willing to front up at least twenty dollars or more. This essentially gives a house edge of 5% (most casinos take 5% if you win the true odds bet, and, of course, they take your money if you lose.)
So yes, in order to make money, you have to spend money outside of the regular laying the chips on the table. Whether or not this type of betting suits your particular playing style is entirely up to you, of course – to be honest, there’s a house edge no matter what you do, and we admit, Buy Bets are fun!
The best advice to take from the situation is to generally stick to the casinos that only charge commissions on winning bets. That way, if you lose a bet, you’re not being additionally penalized for it. It is also advisable to avoid certain numbers, such as “6” and “8”. They simply don’t pay as well after you pay your commission.
So know your limits when it comes to “buy bets”. Unless you have the confidence (and the budget) to front up the money, there are alternative bets that you can try out that would undoubtedly be more feasible to your playing style (again, for Multi Roll Bets, we like Hard Ways).
Good luck out there!
