1. Different buy bets have disparate payoffs. The Buy 6 and Buy 8 bets pay out 23 to 21, while they have a house edge of 4.76%. The Buy 5 and Buy 8 bets pay out 29 to 21, while they have a house edge of 4.76%.
2. Craps Etiquette. To buy chips, place currency on the layout before the shooter is given the dice, and ask the dealer for 'change only.' Do not try to hand cash to the dealer - the dealer is not allowed to take cash or chips directly from a customer's hand.
3. A buy bet is largely the same as a place win in that you are betting on a specific number to be rolled before a 7. The difference is that the payouts are higher, with the trade-off that you have to pay a 5% commission. At some casinos, this commission is payable when you place your stake, and at others it’s only payable if you win.

In an earlier article I talked about the Pass and Don’t Pass bets as well as the Come and Don’t Come bets PLUS the all-important Free Odds bet. In all of these bets the actual “point” to be decided is determined by a roll of the dice. On the Come Out roll, for example, if the shooter tosses a Four then the Four becomes the Point. She must repeat the Four before throwing a Seven in order to win if shooting from the Pass side. Players on the Don’t Pass are hoping the Seven rolls before the Four.

The term ‘Buy bets’ refers to a number of betting options on the craps table which bear a slight resemblance to the place bets, which we cover in a different article. However, where the two bet types differ makes all the difference.

Let’s assume you are a Pass Line bettor and the point has been established as the Four. As a “right” side player your favorite numbers are probably the six and eight. Why? Because there are more “combinations” on the dice that add up to six or eight than any other point numbers. There are five ways each to roll the six or eight versus six ways to roll the seven. When wagered as a pair the six and eight give you ten ways to win versus six ways to lose. Since these numbers roll more often – you should win more often. Of course, those numbers are deceiving because you’re only going to win even money on your Pass Line bet and 6 – 5 on the Free Odds bet. However, the casino will let you choose the number you bet for a small “fee.” It’s called a Place Bet. You simply give the dealer your chips and tell him which number you’d like to place a bet on. They set up the bet and give you any change due. Then, if the bet wins, they extract that “fee” from the payoff. Instead of paying you true odds of 6 to 5 they will pay you 7 – 6. So on a $5 game you’d Place the Six and Eight for $6 each. If either of them roll you’ll be paid $7.

There are literally thousands of betting strategies that have been developed through the years to attempt to gain an edge over craps through various combinations of bets. None of them work over the long run. The math of the game is incontrovertible. However, many such strategies do work and work quite well over the short run – giving rise to hope in many players of an easy life living off the casino’s money. But craps is a tough way to make an easy living.

Here are the payoffs on the various Place Bets:

Six and eight – 7 to 6
Five and nine – 7 to 5
Four and ten – 9 to 5

In a $10 game – the game you are most likely to encounter in Las Vegas and on cruise ships – you can bet $10 each on the four, five, nine and ten. The six and eight are bet for $12 each in order to get a correct payoff.

There are several common “combination” bets you’ll hear players place at the table. These bets are made by “action” players who want to get more money on the table quickly in hopes of turning a big profit from a hot hand. Here are some of the more common wagers:

$44 Inside – $10 each on the five and nine plus $12 each on the six and eight
$40 Outside – $10 each on the four, five, nine and ten.
$44 Even – $10 each on the four and ten plus $12 each on the six and eight
$64 Across – $10 each on the Outside numbers plus $12 each on the six and eight – covering all of the numbers.
Then there’s my favorite. Toss in a $100 chip and ask for $96 across plus $1 each on the hardways.
Of course, you’ll hear these same wagers made in different denominations – all the way up to table maximum.
$110 Inside
$660 Even Numbers
$9600 Across

As long as the bet is within the tables stated limits – the house will book it.

The house edge on Place Bets on the Four and Ten are so high that it’s recommended that you “Buy” those numbers if the bet exceeds $20. At that level the player pays a 5% or $1 commission for the right to be paid “true” odds of 2 – 1. In some casinos the $1 commission is paid up front. In others it is only collected when the bet wins. The latter is more advantageous to the player. It’s also worth noting that casinos typically allow players to Buy the Four and Ten for $25 and still pay only $1 commission as a courtesy to green chip bettors. Others extend the “breakage” out to $30. If you find a casino that extends the breakage to $30 and collects the commission only on the win you’ve found a real bargain. This brings the house edge down on a par with the Pass Line bet.

Place Bets and Buy Bets are the meat and potatoes of serious craps players. Over the long run they are not quite as strong as Pass and Come bets with odds, but played correctly they do offer many advantages over Pass and Come Betting. Here’s a quick look at some of those advantages.

1. The Player chooses which number he bets on rather than relying on random chance.
2. The number the player bets on only has to hit once for him to get paid. Pass and Come bets have to roll twice.
3. Place bets are always under player control and can be taken down at any time. Pass and Come bets are contract bets and must remain up and working.
4. The player can also regress his bets down as low as table minimum at any time if he wants to take additional profit off the table. Place and Come bettors can only take down their odds – not the underlying bet.

Place bets are the meat and potato bets for many players, but not every hand tossed at the table has a happen ending. In fact, every hand tossed at craps ends with a seven out. For that reason, a few players prefer to play the “Dark Side.” For them the “meat and potatoes bets are Lay Bets.

Simply put, the Lay Bet is exactly the opposite of the Place and Buy bets we talked about last week. However, in the United States it is rare to see a Place to Lose bet on the Layout. Instead, the casinos simply accept Lay Bets on all of the numbers.
You may Lay a bet against 4, 5, 6, 8, 9 or 10 at any time, and Lay bets are often employed as “hedge” bets some betting strategies. Lay bets function about the same as a Don’t Come bet. When laying against a number, you are wagering that the seven will roll before that number. The casino charges a 5% commission based on what you could win. Correctly sized Lay Bets are:

$41 No Four or No Ten – Pays $20
$31 No Five or No Nine – Pays $20
$25 No Six or No Eight – Pays $20

Lay Bets always work unless you take them down and are denoted by a Lay button or “lammer.”

One of the most popular uses of Lay bets is as a hedge. Players betting the Don’t Pass at the $20 – $25 level often fear getting “knocked off” by a Come Out Seven or Eleven, and get a partial hedge by Laying the Four or Ten for $41. If a Seven shows on the Come Out the player loses his Pass Line bet, but wins his Lay Bet – more or less offsetting his loss. Of course, he’s not hedged against the eleven so hedge players often end up betting a $1 “YO” to cover the eleven, then $2 on the Hard Four or Ten to partially hedge their Hedge Bet. Bottom line? You end up hedging your hedges – which is why hedge betting is generally not a good idea. Simply bet within your bankroll and don’t worry about hedging.

Remember, despite all of the complications we’ve added, at the end of the day craps is still a coin flip game. On every toss of the dice you win, lose, or there’s no decision (that affects you).

Craps is a much easier game to learn than most people think. The basic premise is simple: you are betting on the outcome of the roll of two dice. The only thing that makes the game confusing is all the different types of bets you can place.

Most of these bets are straightforward, but it’s just the fact that there are so many of them that make the game a little complicated. You don’t need to know how each one works to enjoy playing the game, so it’s not like you have to learn them all before you start playing.

The bets we would say you absolutely must understand are the pass line and don’t pass wagers, the come and don’t come wagers, and the odds bets. We explain these in detail below, and also provide information on all the types of bets. Here is a list of the bets we discuss below:

• Pass Line & Don’t Pass Wagers
• Come & Don’t Come Bets
• Odds Bets
• Place Win
• Place Lose
• Buy
• Lay
• Big 6 and Big 8
• Hardways
• Field
• Proposition Bets

The pass line and don’t pass wagers are the most commonly placed bets in craps and also the most straightforward. A shooter will usually have to place one of them before making their come-out roll; and in some casinos, players must make one of them if they also want to place other wagers. These bets have to be placed before the come-out roll, and they both pay out at even money (1:1) when they win.

A pass line bet wins if the value of the come-out roll is 7 or 11 and loses if it’s 2, 3, or 12. If it’s any other value, then a point is established at that value, and the pass line wager remains on the table until the point is rolled again or 7 is rolled. If the point is rolled, the wager wins; if 7 is rolled, the wager loses.

A don’t pass wager wins if the value of the come-out roll is 2 or 3 and loses if it is 7 or 11. If the value is 12, then the bet is pushed, neither winning nor losing. Just like the pass line bet, it remains on the table if a point is established. The don’t pass wager loses if the point is rolled again and wins if a 7 is rolled.

Come & Don’t Come Bets

These wagers are very similar to the pass line and don’t pass bets, the main difference being that they are placed after the point is established rather than before. They can be a little confusing, so please make sure you fully understand the concept before placing them.

If the first roll after you have placed a come bet is a 7 or 11, then you win your wager. If a 2, 3, or 12 is rolled, then you lose. If any other number is rolled, this is the point for your come wager. So if a 5 is rolled, for example, then 5 becomes your point. Your wager stays in place and will win if a 5 is rolled again, and lose if a 7 is rolled. A come bet may be thought of as a personalized pass line bet, where the point number is established on the first roll after it has been placed.

By the same token, a don’t come bet is like a personalized don’t pass bet. It will lose if a 7 or 11 comes up on the first roll after you place it, and win if a 2 or 3 is rolled. Any other number establishes the point for your don’t come wager, which will then stay in place until it either wins or loses. It will win if a 7 is rolled, and lose if the point is rolled.

Both of these bets are paid out at even money (1:1) when they win.

Odds bets are a bit like side bets that can be made after a point is established. They are essentially extensions of each of the four bets mentioned above. There are four different types:

• Pass Line Odds
• Don’t Pass Odds
• Come Odds
• Don’t Come Odds

You would place a pass line odds bet to complement your pass line bet following a point being established. It pays if the point is then rolled before a seven, and loses if a seven is rolled. The big advantage of this type of bet is that it’s paid out at true odds when it wins i.e. there’s no house edge. The payouts vary, depending on what the point is.

When you place a pass line odds bet, you are said to be “taking the odds.” Because there’s no house edge, the amount you can stake is limited. Typically, you can stake up to three times the amount on your original pass line wager, but some casinos allow more.

A don’t pass odds bet is placed to complement a don’t pass bet. It pays if a seven is rolled before the point, and loses if the point is rolled first. Bets of this type are also paid out at true odds with no house edge and, again, the payouts vary depending on what the point is.

You are said to be “laying the odds” if you place a don’t pass odds bet. The amount you can stake is limited in the same way as a pass line odds bet. Come odds and don’t come odds bets are based on exactly the same principle. They just use the point that is established following a come or don’t come bet.

Place win bets can be made after a come-out roll when a point has been established. They can be on any of the numbers 4, 5, 6, 8, 9 or 10, and they win if the number chosen is rolled before a 7. The payouts vary depending on which number you have chosen.

Craps Buy Or Place Bet

These are basically the opposite of place win bets. They can be on the same choice of numbers (4, 5, 6, 8, 9, 10), but with a place lose, you win if a 7 is rolled before the number you have chosen. The payouts again vary depending on which number is chosen.

A buy bet is largely the same as a place win in that you are betting on a specific number to be rolled before a 7. The difference is that the payouts are higher, with the trade-off that you have to pay a 5% commission. At some casinos, this commission is payable when you place your stake, and at others it’s only payable if you win. The payouts once again vary based on which number has been chosen.

A lay bet is the opposite of a buy bet, and also comes with a 5% commission. With this wager, you are betting on a 7 being rolled before a specific number, in the same way as a place lose. It offers higher payouts than a place lose, which vary depending on the number chosen.

These bets are very straightforward, and both pay even money (1:1) if successful. A big 6 wins if any 6 is thrown before a 7, and a big 8 wins if any 8 is thrown before a 7.

Hardways

When a number is rolled as a double, it’s said to have been rolled the hard way. A hard 8, for example, is a double 4. That is how wagers of this type get their names. They are pretty simple and are based on certain doubles being rolled before a 7.

You can bet on any of a hard 4, a hard 6, a hard 8, or a hard 10. If the relevant hard number is rolled before a 7, you win the bet. As with some other wagers, the payouts are determined by the number bet on.

Field

A field bet is always settled on the next roll. It will win if a 2, 3, 4, 9, 10, 11, or 12 is rolled and lose if 5, 6, 7, or 8 is rolled. It pays 1:1 unless a 2 or 12 is rolled, in which case it pays double (2:1).

World's Best Craps System

There are several different proposition bets available in craps, all of which are settled on the next roll. We explain each of these below.

It’s worth mentioning that proposition bets come with higher payouts than previously mentioned options. The house edge is also higher, however, and players are generally advised to avoid them for this reason. However, there’s nothing wrong with using them if you’re willing to accept more risk in exchange for potentially bigger rewards.

• Any 7 (Payout 4:1). Wins if 7 is rolled next.
• Any 11 (Payout 15:1). Wins if 11 is rolled next.
• Any Craps (Payout 7:1). Wins if any of 2, 3 or 12 is rolled next.
• Ace Deuce (Payout 15:1). Wins if 3 is rolled next.
• Aces (Payout 30:1). Wins if 2 is rolled next.
• Boxcar (Payout 30:1). Wins if 12 is rolled next.