What are ‘Odds Bets’?
Odds bets is a term used in a game of craps that refers to one of the bets a gambler can make after the shooter has established a point. The odds bets are as follows; 2-1 on points of four and ten, 3-2 on points of five and nine, and 6-5 on points of 6 and 8. All of them come at 0 house edge and are valid until the shooter rolls a seven.
‘Odds Bets’ Explained
A game of craps starts with the come out roll and in this initial round only the pass line and don’t pass line bets are available. Once a player establishes a point – rolls a four, five, six, eight, nine or ten – the board opens to all bets, including odds bets. To place an odds bet, the player puts his chips into the section that has the number he wants to bet on. If the player bets on a six and the shooter rolls a six on his next go, the player wins at odds of 6-5.
The shooter doesn’t have to throw a six on that particular go for the player to win. The bet is open until either the shooter rolls a seven or until the player calls the bet off. The player can either call the bet off completely or just for one throw.
The odds bets are popular because, unlike other bets, they have zero house edge, meaning the odds of winning are equal between the player and the casino. Because of this, the casino limits the amount a player can bet. On most craps tables, the player can only bet three times his pass bet on the odds bet after a four or ten, four times after a five or nine, and five times after a six or eight.
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