What is ‘Taking Odds’?
Taking Odds, or the Free Odds wager, is a specific side bet a player can make in the game of Craps once a point has already been thrown and a point number has been established. The player is then able to increase their wager on the point number by an amount called a Free Odds — or often just Odds — bet. The odds on a bet like this are always entirely fair, with no clear advantage or disadvantage given to the house. Often casinos will allow players to bet five, ten and in some cases even up to 100 times the Pass Line bet, making this a potentially lucrative gambit.
‘Taking Odds’ Explained
Odds bets act as a supplement to the more substantial Pass Line bet, and so, as mentioned earlier, there is a lack of house edge, with the better facing fair odds on the wager. For instance: points of 4 or 10 pay at a rate of 2 to 1, points of 5 or 9 at a rate of 3 to 2, and points of 6 or 8 at a rate of 6 to 5.
An example bet might be: the craps shooter has rolled a point of 5 and the better has placed a £10 wager on the Pass Line. Then the player can place an additional £10 wager in front of the Pass Line near their line bet. This indicates that they are making an Odds bet on the 5, or “Taking the Odds”. For a point of 5, you are paid 3 to 2 if the shooter makes the point, awarding the player £15.