Betting in the Game of Craps: Place Bets
A “Place bet” is a wager that your choice of 4, 5, 6, 8, 9, or 10 will come up before 7. They share some similarities with “Betting odds” but you don’t have to bet the pass line to make a Place bet.
Like many other Craps bets, Place bets have their opposite bets. For example, Place bets to Lose are wagers that a 7 will come up before your chosen number. So let’s look at both sides of Place bets.
As you may know, some dice rolls are more unlikely than others. This is because there’s only so many ways to roll some numbers. There’s three ways to roll a 4 or a 10 but five ways to roll an 8. So casinos give better payouts on combinations that are more unlikely. That’s something good to keep in mind when choosing your number. Are you the type that likes to pick long shots, or is the slow and steady race more your style?
In Place bets, 4 and 10 have the biggest payouts. If you win, you enjoy a 9 to 5 payout but the house has a 6.67% edge. 5 and 9 pay 7 to 5 but the odds against you are a bit better at 4%. The safest bets are 6 and 8. You have five ways to win and six ways to lose. The house edge is a tiny 1.52% and you get a 7 to 6 payout when you win. Many casinos give you your winnings but leave your original bet on the table. It’s a subtle way to get you to bet another round. Remember to ask for your original bet if you’re leaving or just have it go into limbo for a while if you plan on sticking around the table for other bets.
“Place bets to lose” flip the winning requirements around. 7 wins and your chosen number loses. The odds are better but the payouts aren’t as big. These are great for players that want to take the safe road.
In Place bets to lose, 4 and 10 has a 5 to 11 payout (Bet 11 to win 5) and the house has an edge of 3.03%. Next are 5 and 9 with a 5 to 8 payout and a house edge of 2.5%. Finishing our list is 6 and 8 with a 4 to 5 payout. The house has a tiny 1.82% edge.
Now that you know about Place bets, well, go ahead and place your bet (sorry, we can’t resist these things!)
Good luck!
