Odds bets are extra bets that you can make in craps. Even though the most popular bets are pass line and don't pass line bets, odds bets can be made in addition to these.
For newer players it is recommended that odds bets should be limited to pass line bets.
The biggest attraction of odds bets is that there is no extra house edge for the casino when playing these bets. In fact, if these bets are played correctly they can even diminish the house edge. Odds bets pay true odds as opposed to the standard even money as paid out in pass line bets and other standard craps bets.
Odds bets can be placed only once the shooter has established a point. These bets are then placed behind the pass line bet. However, if you are placing an odds bet on a don't pass line then the chips are placed just above the original bet.
The Payout Table
4 or 10 pays 2:1
5 or 9 pays 3:2
6 or 8 pays 6:5
These odds are calculated according to how many different ways the dice can land in order to give the above combinations. There are more ways for the shooter to roll an 8 than a 4 so therefore the payouts are higher for rolling a 4.
Due to the fact that there is little or no casino edge when playing odds bets, it is highly recommended that these bets should be placed.
If you are a new player then you should not go overboard with placing too many bets as you do not want to blow your bankroll too quickly without understanding what you did wrong.
Some casinos do not allow you to get too carried away when you place odds bets and will therefore only offer you the choice of doubling your bet and no more. However, if you wish to play the big stakes then you can look out for online casinos which offer you up to 100 times bets. This is very rare and is generally used as a promotional tool in order to bring in new craps customers. When a players is placing
100 times bets the casino's edge is so low that it is not even worth calculating.
Odds bets can also be placed on come and don't come bets, so there are many betting options available for you to try out as you progress. There is no need to rush into anything as craps can be quite confusing in the beginning. The most important thing is to gain a solid base with regards to the rules and different betting types. As you progress, you can try out the more complicated bets.
