What Is A Place Bet In Craps
What Is A Place Bet In Craps
One of the bets that exists in craps, but is not very commonly or frequently used, is the Place to Lose bet. The Place to Lose bet in craps is the exact opposite of the Place bet in craps, also called the craps Place to Win bet. This bet enables you to win if the shooter rolls the number 7 ahead of the number you bet on. You will also not find too many casinos, online or traditional, offering this bet at their tables.
This bet is not very popular among craps players, because most of them, close to 90%, prefer to roll with the dice rather than bet against it. Not only that, experienced craps players who have sound knowledge of the different bets and how they work seem to prefer the Don’t Come or Don’t Pass Line bets to the Place to Lose bet in craps.
Making the Craps Place to Lose Bet
What this tells us is that the Place bet on the 6 or 8 is one of the smartest bets on the craps table (i.e., by “smart,” I mean it has one of the lowest house advantages of all craps bets). Jackpotcity has been awesome and they have many casino games apart of CRAPS. A Place bet can be made for as little as $6. My point here is that there are other wagers on a craps game that are far superior to buying the 4, 10 or any number for that matter.
The Pass Line Bet is the most common bet in craps. It’s a very easy bet and you can easily get through a whole night of gambling only knowing this one bet. All you have to do is put your chips on the pass line on the table.
To make the craps Place-to-Lose bet, you need to tell the dealer this is the bet you want to place. The dealer then places your chips directly at the box designated for placing the chips just above the number you have chosen to make your craps Place to Lose bet on. That number is now referred to as the Place number.
You can make the wager whenever you want; however, the wager does not become active until a point has been established. When you win a craps Place to Lose bet, you have the option of leaving your chips on the craps table, so that it becomes the amount for the next wager, or you can collect your winnings and remove the chips from the table. You also have the option of retaining a portion of your winnings on the table so that becomes your money for the next craps Place to Lose bet.
Some Basic Craps Place to Lose Bet Payout Ratios
The odds of winning when you make a Place to Lose bet in craps vary, and depend mainly on the number that you are looking to bet on. The payout ratios also vary for the different numbers. In this section, will briefly mention the payout ratios associated with some of the numbers on which you may place a craps Place to Lose bet.
If the number you have bet on is 6 or 8, the payout ratio is 4 to 5 and you must bet in multiples of $8, which means a house advantage of just 1.82%. If the number that you choose to make your Place to Lose bet on is 5 or 9 the payout ratio is 5-to-8, and you would need to bet in multiples of $8 for either of these numbers to lose, which means the house has a 2.50% advantage. If the number if 4 or 10 the corresponding ratio is between 5 and 11 and you would have to bet at least $11 or multiples of this value to win, thereby giving the house a solid 3.03% advantage.
Craps Lay Bet Strategy
Craps can be a daunting game for most including ourselves if we are honest and is not a game we normally play but here is the craps lay bet strategy and explanation of what exactly a lay bet is in craps.
When placing lay bets on craps you have no complicated or confusing bet combinations or hedges that are needed. Placing more than one bet will obviously reduce your odds of making a profit.
So what is a craps lay bet?
A lay bet is the opposite of a back bet in craps just like in most games that you can place lay bets on. As always it is also an easy way to get favorable odds of the selection you choose not to win giving you a high strike rate.
A craps lay bet is a bet that a 7 won’t be rolled previous to the number that you have your money on.
So you can choose 4, 5, 6, 7, 8, 9 or 10 and place a bet in the designated area on the table. An example can be seen above in the main picture.
There are 6 ways that the dice can be rolled to total 7!
What Is A Place Bet In Craps Rules
When this is compared to the 5 ways that a 6 or an 8 can be rolled, the 4 ways in which a 5 or a 9 can be rolled and the 3 ways in which a 4 or a 10 can be rolled you can see why many craps players choose to place lay bets.
Craps Hop Bets Payouts
These figures are the basis of how much you are favored to win.
- 6 or 8 : odds are 6/5 in your favor; probabilities are 54.55 % you win, 45.45 % you won’t.
- 5 or 9 : odds are 6/4 in your favor; probabilities are 60 % you win, 40 % you’ll won’t.
- 4 or 10: odds are 6/3 in your favor; probabilities are 66.67 % you win, 33.33 % you’ll won’t.
The downside of lay bets on craps – The vigorish!
While lay betting on craps offer true odds this gives the casino no edge so therefor they collect a vigorish (vig).
To get around this the casino’s take the vigorish which is 5% of all winning bets.
So say you place a lay bet of £40 on 4, and the shooter rolls a 7 then you will win £19. So your £40 pays 1 to 2, which makes £20.
The “vig is deducted from that amount, so 5% of £20 is £1. Your win will be £19 and you will get £59 back, your winnings and the original £40 staked.
What Is A Place Bet In Craps