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Best of Frank Scoblete

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Isn't the odds bet at craps a big mistake?

11 April 2011

Dear Frank:

I don't see how you can say that the odds bet at craps is a good bet. It only makes it appear that it reduces the house edge but in fact the amount of money you lose is always the same. If I make a $25 pass line bet my expected loss is 35 cents. The house edge is 1.41%. Now say I decide to put $100 in odds behind the bet. The house edge goes down but I still expect to lose the same 35 cents. No difference.

So can you tell me why everyone screams that the odds bet is so great? I just don't see it. I'll just bet my $25 and to heck with the odds since the odds are really meaningless.

Jim

Dear Jim:

The odds bet is a great bet if used properly. You want to bet $25? Okay, what is the better bet: $25 on the pass line with no odds or $5 on the pass line backing it with $20 in odds? Your expected loss as you stated on $25 is 35 cents but your expected loss on the $5 pass line bet is only 7 cents. The casino is giving you the opportunity to bet the same amount but to have one bet come in with a bigger hit on your bankroll and another bet come in with a smaller hit on your bankroll. Which bet is the one you should make? The answer is obvious.

The rule of thumb is therefore: Bet less on the pass or come and back those bets with the highest you can get and afford in odds.

I am giving you a free 30-day subscription to my private member's only website at www.goldentouchcraps.com. We have over 5,000 members on this site and I think you will enjoy it.

Frank Scoblete

Recent Articles
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:

Casino Craps: Shoot to Win!

> 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