A Craps bet is a wager made on one roll of the dice. The goal for most players is to get a “7” or better, which means that they want to win $2 on their bet. However, getting this result is not always possible; that’s why casinos offer different types of bets.
The house advantage, or edge, is the percentage difference between the odds of winning and losing a given game. In casino games like craps, the house advantage can be as high as 5%. This means that if you play at a traditional casino, your chances of winning are approximately 95%, or 1 in 20. If you’re playing online (or with friends in person), your chances of winning are around 60% or 1 in 6.
In craps, there are six numbers: two 7s, two 8s, two 9s, and a 10. These are called the Point Numbers. Each of these numbers comes out from the shooter’s hand once per turn, although some come out more than once. There’s also the Ace, which comes out only once per round. All other numbers appear twice, except for the 10.
The online platform like 188bet provides the people with the variety of the game. One of the favorite games for the players is the slot. The players used to play the game on the special machines called the slot machine. The selection of the machine will have the direct impact on the winning chance of the players. So the player needs to be careful in choosing the best one.
To make a basic craps bet, place your bet on any of these numbers. You’re then allowed to make additional wagers after each roll. The first three rolls are free, but you have to pay up front for subsequent bets.
Once you’ve placed all of your bets, you’ll see which numbers have been rolled. Then, you’ll take those same numbers into account when deciding whether to keep your original bet or fold it. Keep reading to learn how to calculate the house advantage for each number.
The House Advantage for Aces
Let’s start by looking at the house advantage for Aces. An ace is worth $1, so your chance of winning $2 is very good. But, what about your chance of losing? How often does the ace show up?
If we assume that the house is fair and that the shooter throws the dice an even number of times, the probability of rolling an ace will be roughly 1 in 12. So, your chance of losing $2 is approximately 11/12 or 91%. That means you should expect to lose $1 for every $11 spent in the long run.
Now, let’s say that you’re betting $2 on the ace. Your chances of winning are really good, and you might feel confident in making this bet. On the other hand, your chances of losing are quite low. How much do you think you’d need to lose before you’d decide to stop betting on the ace?
The House Advantage for Sevens
Sevens aren’t as lucky as the house would lead you to believe. As you may already know, seven is one of the worst possible numbers for craps. It shows up less than half the time, and when it does, it’s almost never followed by another number. That’s why the house has such a huge edge against the player.
When you make a bet on a seven, you actually give the house a small advantage. To calculate this, let’s look again at the probability of getting a 7. Assume that the dice roll an even number of times. How likely is it that you’ll get a 7? Well, according to the rules of craps, a 7 appears once every five rolls, so its probability is 1/5 = 20%. Now, let’s say that you’re betting on a seven. What’s the probability that you’ll win $2? Well, according to our earlier calculation, your chances of getting a 7 are 20%. And, based on this information, the house has an edge of just 0.20, or 20% over you.
So, why would anyone ever bet on a seven? The answer is that the house gives away a lot of money because the odds are so bad. If you don’t care about the money, then your best option is to avoid sevens completely.
The House Advantage for Eights
You might think that eight is a great number to bet on, since it shows up frequently and is pretty easy to hit. However, the house still has an edge.
The probability of getting an eight is roughly 15%. Let’s suppose that you’re betting on an eight. What’s the chance that you’ll win $2? Once again, the probability is 20%, meaning that you’ll win $1 for every $6 that you bet.
Now, let’s look at the opposite situation. How many times will you have to lose $6 before you call it quits? According to our calculations above, the house has an advantage of 20%. So, if you had to lose $6 four times, you’d finally quit betting on the eight and walk away with a net profit of zero dollars.
The House Advantage for Nines
Nine is the next easiest number to bet on. The probability of getting one is roughly 18%. Assuming you’re betting on nine, what’s the chance that you’ll win $2? Well, it turns out that this number is slightly lower than 20%; in fact, it’s 19%.
Since you won’t win $2 on every roll of the dice, the house has an advantage of one percent. Remember, the house doesn’t always have to win, which means that the actual advantage could be higher.
The House Advantage for Tens
Ten is the hardest number to bet on. It shows up less than one percent of the time, so the probability of hitting it is just under 2%. However, if you’re betting on ten, what’s the chance that you’ll win $2? Well, according to our calculations above, your odds of winning are just under 50%.
This means that you’ll win $1 for every $4 that you bet. If you were forced to lose $4, would you continue to bet on ten? Probably not!