Play smart and smarter, learn how to play craps correctly!
A “standing” place bet means that the bet remains in effect or stands until it wins or loses or until you take it out. You can place it on any number of points: 4, 5, 6, 8, 9 and 10. It works against number 7, just like the Pass Line bet. The only numbers that are important after placing a Place bet are the 7 and the Place number. All other numbers are meaningless. Each subsequent roll of the bet can result in one of three outcomes: 1) A 7 shows, and your place bet loses; 2) The Place number shows, and your Place wager wins; or 3) Any other number shows, and nothing happens to your placed bet (i.e. all numbers have no effect on your Place betting).
True odds don’t show that place bets pay. Instead, the house gains by paying them less than the true odds.
Place odds don’t compare to true odds. Place odds are less favorable than true odds, so the house will make more money off of you. The Place odds only pay $9 for a winning $5 wager on the 4 or 10 but the true odds are that we should get $10. The Place odds for a winning $10 bet placed on the 5 and 9 pay only $14, while the true odds suggest we should receive $15. For a $30 winning bet on the 6 and 8, the Place odds only pay $35, while the true odds suggest we should get $36.
It might be tempting to ask, “How much can I place a Place wager?” The odds will determine the amount of your bet. The Place odds for both the 4 and 10 are 9 to 5, while the 5 and 9 have 7 to 5. Place bets on the 4, 5, 9 and 10 should not exceed $5. A winning $10 bet on the 4, for example, will net you $18. For $21, place a winning $15 bet on 9 to win. Do not be intimidated by the math! These bets can be placed in multiples of $5. To determine your winning amount, divide your bet by 5, and multiply the winning odds by 5. For your $10 Place bet on 4 (which has Place odds at 9:5), $10 is divided by 5 = $2 and $2 x 9 = $18. Your $15 Place bet on 9 (which has Place odds at 7:5) will cost $15 divided by 5, $3, and $2.
The Place odds for the 6 & 8 are 7 to 6, which means that the bet should not exceed $6. A winning $12 Place bet on 6 will win you $14. $35 is the winning Place bet for the 8, which was $30. Do the math. $30 Place Bet on the 8 (which has Place odds at 7:6) – $30 divided by 6 = $5 and $5 x 7, = $35
Learn the difference between true and place odds. You don’t need to be confused about the difference. It’s not a good idea to try to figure out how much you should put down for each place number. James Bond never asked the dealer “Um, excuse us, how much are the six?” If you are having trouble recalling the Place odds, ask the dealer. After 15 minutes at the table, it will be easy to remember.
If you are like me, you will search for and play at a table that has a minimum of $3 instead of the usual $5 or $10 minimum. Let’s say you find a table with a minimum bet of $3 (a few tables are left on the Strip). You can place $3 Place bets with a minimum of $3. However, the Place odds are not as good. For a $3 wager on the 6, 8 or 9, the payoff odds are either 1:1 or even money. It’s 4:13 for the 5 and 9, which means that your $3 bet will win $4. It’s 5 to 3 for the 4 and 10, which means that your $3 bet will win $5.
A $3 Place bet will give you less than the full odds. This is because the lowest denomination of chips at the craps tables is usually $1. They can’t pay you even a fraction of a penny (i.e. cents). Let’s say you place a $3 wager on the 5. While the Place odds are full at 7:5, the payoff odds for a 3 bet are 4:3. Why? It gives the casino an excuse to slap the player! So if the chips at the roulette table are 25 cents and 50 cents each, why not have chips at the craps table for less than $1? That’s right. You get it back! Full Place odds are 7 to 5, which means that for a $3 place bet on the 5, we divide $5 by 5 = 60cs and multiply 60cs by 7 = $4.20. For a $3 Place wager on the 5, or 9, with full Place odds at 7:5, we can expect to receive $4.20 when our win. Craps tables don’t offer 20-cent chips so the casino rounds down at $4.
Let’s take a look at a place bet of $3 on either the 4 or 10 numbers. Full Place odds are 9 to 5, which means that we divide $3 by $5 = 60cs and multiply 60cs by 9 = $5.40. For a $3 wager on the 4 or 10, with full Place odds at 9:5, we can expect to win $5.40. However, the casino rounds down to $5. Notice how the casino rounds up instead of down. These bets don’t cost the player much. If you have a small bankroll, they can be fun and offer more action than Pass Line bets. You will get less Place odds than the full odds, and your house advantage will increase if you place $3 Place bets.
True odds don’t have the same advantage as full place odds. This is how the house keeps its advantage. Remember that the house is not in it to win, but to make money. The house wins over time because you lose you get the true odds. But when you win the house pays less than the true odds. The house will always win because they pay less when you win than what is fair. Let’s take a closer look at how the house treats the player.
Let’s take a look at the number 4. The odds of making a 4, compared with a 7, are 1:1. That is, there are three ways to make the number 4, compared to six ways for a 7, which is 3 to 6. This reduces to 1:2. Because the number 7 is twice easy to make than a 4, when we win, we will get twice as much money. If we place a $5 bet on the 4 to hit first, we can expect to win $10 (i.e. $5 x 2 = $10). For a Place bet on 4 the payoff odds is only 9:5. Although this is close to 2:3, it’s not quite. If we place a $5 Place wager on the 4, and win, the house will pay us $9. The house doesn’t pay the full odds if it loses. Instead of paying $10, they only pay $9 and keep an extra dollar. It might seem like you think that for $5, I win $9. I don’t care what they do to me, as long as I get $1. It’s only $1. It’s only a buck, but it can be thought of this way. This is only one Place bet that was made during a single game. Imagine the extra dollar you would keep if other players make the same bet. This multiplies by the number and activity at each table, multiplied with the number of hours per day, multiplied again by the number days in a given month, etc. It is easy to see how the house makes money long-term.
Place bets can be made or removed at any moment during a game. Although you can place them before the puck goes off (before a new come out roll), dealers prefer that you wait until the point is established before placing your bets. Sometimes, players will try to place a bet while they puck is OFF. They ask, “Can you place the six for me now? So I don’t forget after my come-out?” Although the dealer will usually agree (as he should, after all you are the customer), sometimes the dealer may ask the player for a wait until a point has been established.
If a dealer asks you to wait until after a point has been established before placing a place bet, it’s because they are lazy. Let’s say you place the 6 before the come out. The dealer will then move your chip into the 6 points box. The shooter will then roll a 6 to score the point. The dealer then moves the ON puck into a 6 point box and asks, “Sir. What do you want with your six?” Your Pass Line bet covers 6 points, so you don’t want your Place bet to cover it again. If you choose to remove your Place 6, the dealer will have to move it to another number or return it to it. You might think, “Gee! That’s a lot of work for the dealer!” It’s not difficult at all. But it’s surprising how many dealers, even good ones, don’t like the idea of moving Place bets around.
Place bets can be made as many times as you like, but not more than six. This includes the points, 4, 5, 6, 8, 9, 9 and 10. You can place the point. Imagine that you are standing at a table and notice an ON puck in the 6 points box. This means that a game is currently in progress and the shooter has 6 points. Let’s say you love the number 6, and want immediate action. However, you don’t want a Put bet. So you decide to place the shooter’s points. Place your chips directly on the Pass Line’s bottom line (i.e. the line that separates it from the apron). The dealer will know that your Place bet is on the shooter’s points as long as you place your chips along the line. You can also drop your chips into the Come box to tell the dealer “Place the Point, please.” Your chips will then be moved to the point box by the dealer.
All Place bets are placed by the dealer, except when you place the shooter’s points yourself. The dealer places them in the correct position in the box for the number that you wish to place. Untrained eyes may see that players’ chips are scattered around guvencehd.org the point boxes. It’s actually well-organized. Each position of a player has a chip position that corresponds to each point box. This is the same for Lay bets and Come bets. Players’ chip positions correspond to their position at the table for all bets within and around the point box.