What is a Double Odds Bet?
The double odds bet is a craps bet which is sometimes offered to players at certain points during the game. As the name suggests, a double odds bet means the odds of a certain outcome are multiplied by two, raising the potential payout in the process. Double odds bets are a form of side bet which can be made alongside the come/don’t come and pass/don’t pass line bets, giving the player a chance to improve their win – or reduce their losses.
Double Odds Bet Explained
The term double odds bet is most often associated with the dice game craps. Casinos and online casinos often offer double odds on certain in-game bets, namely the pass/don’t pass and come/don’t come bets made at the start of the shooter‘s turn or just after their point is rolled. Some casinos may even up the odds further, with triple odds, 5x odds and 10x odds available at certain establishments.
Where the odds are increased, the house often increases its own edge by reducing the payouts on other bets, or by taking away some in-game options like the free odds bet. This ensures that the game is still profitable for the house, despite handing what seems like a large advantage to the player. For the bet to be worth taking by the player, they should place the minimum stake on the pass line and put a higher amount into their multiple odds bet instead.
In other forms of gambling, double odds bet might also be heard. Bookmakers, slot developers and online casinos might all add a ‘double odds’ option into their game as a short-term promotion or as a permanent game feature. Some sportsbook operators introduce double odds bet options to attract more interest in one side of the book, if the balance of betting has tipped too heavily to one side.
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