Craps bets - free odds bets (pass line)

When a point has been established on the come-out roll, any player who has made a pass line bet is allowed to "take the odds" – though this bet does not have its own designated area on the craps layout.

This is probably because the odds or free odds bet gives the astute gambler a way of reducing the house edge considerably, taking it down to 0.85% for a line pass bet on a standard single odds craps table.

A single odds bet is an additional wager, where you are betting that the point number will be repeated before a 7 is rolled. The odds bet can be anything up to the amount of your original wager. Some casinos permit players to make double odds, and even greater odds wagers, occasionally as high as ten times the original wager. As a rule, the higher the odds available, the higher you should take, as this contributes to further reducing the house edge.

To take the odds, you must place the appropriate amount of chips behind your pass line bet in the open area of the craps layout. Free odds bets can be made at any time after the point has been established and if you wish, you can remove them without loss at any time before a 7 has been rolled or the point number repeated, though there is little reason to do this.

The payoff for odds bets varies from point number to point number, depending on the odds of a 7 being rolled before a specific point is repeated. The payoff formula is the same whether you take single odds, double odds, or more.

Correct odds payoffs are as follows:

For example, suppose you bet £1 on the pass line and establish a point of 4 in a casino that offers double odds. You now have the option of taking the odds for an additional £2.00. (You can also bet a smaller amount or choose not to take any odds at all.)

If you take the bet and then repeat the point number (4) before rolling a 7, you will get your original £3 returned to you, plus an additional £5. Of that £5, £1 will be the even-money payback on your pass line wager, and £4 will be the 2-to-1 payoff for a point of 4 on your odds bet of £2.00. If you roll a 7 before repeating your point of 4, you will lose your initial £1 wager on the pass line, plus your £2 odds bet, for a total loss of £3. You are permitted to remove your odds wager from the layout at any time.

It is these ‘free odds’ that make this type of bet the best wagers you can make in the game of craps. If you do the maths, you can see that the odds bet has no house edge associated with it. Take the above example where you are betting that the 4 will come up again before the 7. The 4 can be rolled by any one of 3 combinations, while the 7 can be achieved by rolling any one of 6 possible combinations, making it twice as likely. However, you are offered odds of 2-1 on rolling the 4 before the 7, making the overall bet an even chance.

If you have difficulty at the craps table in determining the proper amount to bet in order to receive the correct odds payoff, feel free to ask one of the dealers for assistance. You don't want to lose out on any winnings that are rightfully yours.

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