If you are tight with your money and really want to get in on some crazy craps action but you're not sure just how big of an edge the casino has at craps, it is time for you to learn how to calculate craps betting odds. Craps in no different from any other casino game. The casino allows you to wager on random events with the payout being slightly less than the frequency of the outcome. By learning how to calculate odds and comparing that to the payouts, you can figure out where the best action is, and which sucker bets to avoid.
- Figure out how many dice combinations there are for the dice result that you want. For results on two six-sided dice, like those used in craps, simply figure out how many results on one die can result in the end number that you want. For example, if you are looking for how many ways there are to make a ten, each die has to be either four, five, or six, since a three on one die cannot make more than a nine total on both. So for a ten, there are three different dice combinations.
- Compare the number of dice combinations with 36 to find the odds. There are 36 possible results when two six-sided dice are rolled, so to find the odds we need to divide 36 by the number of combinations for the dice result we are looking for. For example, we know that there are three dice combinations that will result in a ten being rolled, so we divide 36 by three and get twelve. We now subtract one from the result and get eleven. So the odds of rolling a ten on two dice is eleven to one against. In other words, for every twelve rolls, one of them will be a ten.
- Compare the odds against the casino payout for prop bets. Prop bets are bets that will either win or lose on the next throw. If you make a prop bet that a seven will be rolled, we know that there are six positive outcomes and 30 negative outcomes, or five to one odds. The house pays four to one on this bet, so you can see that this is a terrible bet with a huge house edge.
- Compare the number of positive dice combinations and negative combinations with the payout. Most craps bets continue to be in action until either a positive outcome or craps comes up on the dice. For a place bet on four, we know that there are three combinations that can return a positive result of three and six combinations that return a negative result of seven. This means that the odds of a four being rolled before a seven are two to one. The payout for a place bet on four is nine to five, which is worse than two to one and may be enough to have you avoid this type of bet.