The Odds bet in Craps has no house advantage. You MUST first make a flat bet before you can take or lay the odds.
Note: By making an odds bet it does NOT increase your chances of winning and it
does increase the volatility or bankroll swings that you can see playing in the short run.
The true odds are determined from the ways each number can roll.
The free odds bet as you can see is NOT FREE since you must first and always make a bet the has a house advantage.
From the house advantage table below it can be seen that the house edge DECREASES as more odds are taken. The largest decrease comes from taking 2x odds as it cuts the 1.414% HA to more than half to .61%.
Almost all craps experts say to bet more on the odds bet to take advantage of the lower house edge the odds bet offers. They are ALL not telling the complete truth.
Remember the odds bet does absolutely NOTHING to increase your chances of winning the bet. When you do win, your winning amount does increase as when you do lose your loss amount also increases.
| odds | net | net % | HA % | high | low |
|---|---|---|---|---|---|
| 0 | -990 | -1.87 | -1.41 | 85 | -1015 |
| 1 | -1712 | -1.94 | -0.85 | 231 | -1759 |
| 2 | -1525 | -1.24 | -0.61 | 487 | -1596 |
| 3 | -2247 | -1.42 | -0.47 | 653 | -2340 |
| 5 | -2782 | -1.22 | -0.33 | 1105 | -2921 |
| 10 | -3665 | -0.91 | -0.19 | 2295 | -3920 |
| 20 | -6340 | -0.84 | -0.1 | 4555 | -6825 |
| 100 | -27740 | -0.78 | -0.02 | 26350 | -30065 |
| $ bet | $ odds | odds X | net | net % | HA % | high | low |
|---|---|---|---|---|---|---|---|
| 10 | 0 | 0 | -1980 | -1.87 | -1.41 | 170 | -2030 |
| 5 | 5 | 1 | -1712 | -1.94 | -0.85 | 231 | -1759 |
| $ bet | $ odds | odds X | net | net % | HA % | high | low |
| 15 | 0 | 0 | -2970 | -1.87 | -1.41 | 255 | -3045 |
| 5 | 10 | 2 | -1525 | -1.24 | -0.61 | 487 | -1596 |
| $ bet | $ odds | odds X | net | net % | HA % | high | low |
| 20 | 0 | 0 | -3960 | -1.87 | -1.41 | 340 | -4060 |
| 5 | 15 | 3 | -2247 | -1.42 | -0.47 | 653 | -2340 |
| $ bet | $ odds | odds X | net | net % | HA % | high | low |
| 30 | 0 | 0 | -5940 | -1.87 | -0.47 | 510 | -7090 |
| 5 | 25 | 5 | -2782 | -1.22 | -0.33 | 1105 | -2921 |
| Bet | True Odds | Payoff Odds | House Edge % | Win Prob | Win % | Ways to Win | Ways to Lose |
|---|---|---|---|---|---|---|---|
| Pass Line / Come | 1.0287 to 1 | 1 to 1 | 1.41 | 244/495 | 49.29 | 244 | 251 |
| w/ Single odds | 0.85 | 244/495 | 49.29 | 244 | 251 | ||
| w/ Double odds | 0.61 | 244/495 | 49.29 | 244 | 251 | ||
| w/ Triple odds | 0.47 | 244/495 | 49.29 | 244 | 251 | ||
| w/ 5x odds | 0.33 | 244/495 | 49.29 | 244 | 251 | ||
| w/ 10x odds | 0.185 | 244/495 | 49.29 | 244 | 251 | ||
| w/ 20x odds | 0.099 | 244/495 | 49.29 | 244 | 251 | ||
| w/ 100x odds | 0.021 | 244/495 | 49.29 | 244 | 251 | ||
| take odds on 4 / 10 | 2 to 1 | 2 to 1 | 0 (odds only) | 3/9 | 33.33 | 3 | 6 |
| take odds on 5 / 9 | 3 to 2 | 3 to 2 | 0 (odds only) | 4/10 | 40.00 | 4 | 6 |
| take odds on 6 / 8 | 6 to 5 | 6 to 5 | 0 (odds only) | 5/11 | 45.45 | 5 | 6 |
| Don't Pass / Don't Come | 1.0864 to 1 | 1 to 1 | 1.3636 | 949/1980 | 47.93 | 949 | 976 |
| Don't Pass / Don't Come | 1.0285 to 1 | 1 to 1 | 1.4 | 949/1925 | 49.30 | 949 | 976 |
| w/ Single odds | 0.69 | ||||||
| w/ Double odds | 0.46 | ||||||
| w/ Triple odds | 0.34 | ||||||
| w/ 5x odds | 0.23 | ||||||
| w/ 10x odds | 0.124 | ||||||
| w/ 20x odds | 0.065 | ||||||
| w/ 100x odds | 0.014 | ||||||
| lay odds on 4 / 10 | 1 to 2 | 1 to 2 | 0 (odds only) | 6/9 | 66.67 | 6 | 3 |
| lay odds on 5 / 9 | 2 to 3 | 2 to 3 | 0 (odds only) | 6/10 | 60.00 | 6 | 4 |
| lay odds on 6 / 8 | 5 to 6 | 5 to 6 | 0 (odds only) | 6/11 | 54.55 | 6 | 5 |
| Outcome | Combinations Of Dice | Probability | Odds Against | % of rolls |
|---|---|---|---|---|
| #2 | 1-1 | 1/36 | 35 to 1 | 2.78 |
| #3 | 1-2, 2-1 | 2/36 | 17 to 1 | 5.56 |
| #4 | 1-3, 2-2, 3-1 | 3/36 | 11 to 1 | 8.83 |
| #5 | 1-4, 2-3, 3-2, 4-1 | 4/36 | 8 to 1 | 11.11 |
| #6 | 1-5, 2-4, 3-3, 4-2, 5-1 | 5/36 | 31 to 5 | 13.89 |
| #7 | 1-6, 2-5, 3-4, 4-3, 5-2, 6-1 | 6/36 | 5 to 1 | 16.67 |
| #8 | 2-6, 3-5, 4-4, 5-3, 6-2 | 5/36 | 31 to 5 | 13.89 |
| #9 | 3-6, 4-5, 5-4, 6-3 | 4/36 | 8 to 1 | 11.11 |
| #10 | 4-6, 5-5, 6-4 | 3/36 | 11 to 1 | 8.83 |
| #11 | 5-6, 6-5 | 2/36 | 17 to 1 | 5.56 |
| #12 | 6-6 | 1/36 | 35 to 1 | 2.78 |
One can see from the above table that the #7 has the most chances of rolling while the #2 and the #12 have the least.
The house allows the maximum size of an odds bet to be a factor of the flat bet or the bet made on the pass, don't pass, come and don't come bets. This odds factor is displayed on a placard mounted on the inside wall of the craps table next to each dealer.
Max odds bet = Size of flat bet X the Odds Factor
This works for the Pass Line Odds and Come Odds bets only.
For the Don't Pass Lay Odds and Don't Come Lay Odds bets, the maximum odds wager is larger than the odds factor because you are laying odds instead of taking odds.
With these lay odds bets you are allowed to lay amounts that will win the maximum odds allowed. Yes, it is a bit confusing and may explain why so many players make the pass line and come bets most of the time. This is a difficult concept to understand for most players.
The maximum size for taking or laying the odds bet is not always a strict odds factor of the flat bet. Wow!
Some casinos may allow a greater amount to be wagered in order to make a correct exact payoff.