What is ‘Free Odds’?
In craps, the ‘Free Odds’ bet is an available wager at the table which has no house advantage. The bet uses true odds and is weighted entirely fairly to the player. The Free Odds bet can only be made after a point is established by the shooter, and it has to be made in conjunction with another bet, such as the Pass and Don’t Pass or Come and Don’t Come wagers. This gives the house back some of its advantage. Players make a Free Odds bet by placing their chips below the pass line, and the bet is won if the shooter makes their point on the next roll.
‘Free Odds’ Explained
Craps is a casino table game which already has a low house edge, but the Free Odds bet has no edge at all. The bets are paid out using true odds if they win, with no profit to the casino. However, this is not a risk-free bet: any Free Odds bet must be accompanied by a flat bet to the pass line – Pass/Don’t Pass or Come/Don’t Come. Because these bets do have an edge, the casino is still in with a chance of some profit.
Players make an odds bet on the lower side of the pass line after the shooter has established their point, and the bet stands only until the next roll. The bet is won if the shooter is able to make their point again, and the payout for the bet will depend on what the point is and how it was rolled. Some casinos might limit the amount which can be placed with a Free Odds wager, while others may allow the player to multiply the odds. By increasing the odds on a bet below the pass line, players can bring the house advantage down even more.
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