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Do Casinos Make a Profit on Odds Bets?

2 March 2006

Dear Frank:

Question: We know that the "odds bet" on the passline is paid with "no house advantage" and at true odds. But is the casino more likely to win the "odds bet" and does the casino make a profit on "odds bets" even though "odds bets" have no house advantage?

ML

Dear ML:

Yes and no.

On the 4 and 10, the casino will win twice and lose once. However, the odds bet will pay 2 to 1, so the game is even, although the house wins more times on these two numbers because the true odds of the bet are 2 to 1. On the 5 and 9, the house will win three times and lose twice. However, the true odds payout is 3 to 2. Again, a break even situation monetarily for the house and the player. On the 6 and 8, the house will win 6 times and lose 5 times but the house pays out 6 to 5 on its losing bets. It's another break even proposition.

The house has no edge on these bets. While the casino is more likely to win the odds bets, since it pays out the long-end of the bet on its losses, the bet is break even in the long run and the casino will not win any money on the odds bet.

All the best in and out of the casinos!

Frank Scoblete

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Best of Frank Scoblete
Frank Scoblete

Frank Scoblete is the #1 best selling gaming author in America. His newest books are Slots Conquest: How to Beat the Slot Machines; Everything Casino Poker: Get the Edge at Video Poker, Texas Hold'em, Omaha Hi-Lo and Pai Gow Poker!; Beat Blackjack Now: The Easiest Way to Get the Edge; Casino Craps: Shoot to Win!; Cutting Edge Craps: Advanced Strategies for Serious Players; Casino Conquest: Beat the Casinos at Their Own Games! and The Virgin Kiss.

Frank and Casino City Times columnist Jerry "Stickman" teach private lessons in dice control. Frank's books are available at Amazon.com, in bookstores or by mail order. Call 1-800-944-0406 or write to Frank Scoblete Enterprises, PO Box 446, Malverne, NY 11565. Frank can also be reached by email at fscobe@optonline.net.

Frank Scoblete Websites:

www.goldentouchcraps.com
www.goldentouchblackjack.com

Books by Frank Scoblete:

> More Books By Frank Scoblete

Frank Scoblete
Frank Scoblete is the #1 best selling gaming author in America. His newest books are Slots Conquest: How to Beat the Slot Machines; Everything Casino Poker: Get the Edge at Video Poker, Texas Hold'em, Omaha Hi-Lo and Pai Gow Poker!; Beat Blackjack Now: The Easiest Way to Get the Edge; Casino Craps: Shoot to Win!; Cutting Edge Craps: Advanced Strategies for Serious Players; Casino Conquest: Beat the Casinos at Their Own Games! and The Virgin Kiss.

Frank and Casino City Times columnist Jerry "Stickman" teach private lessons in dice control. Frank's books are available at Amazon.com, in bookstores or by mail order. Call 1-800-944-0406 or write to Frank Scoblete Enterprises, PO Box 446, Malverne, NY 11565. Frank can also be reached by email at fscobe@optonline.net.

Frank Scoblete Websites:

www.goldentouchcraps.com
www.goldentouchblackjack.com

Books by Frank Scoblete:

> More Books By Frank Scoblete