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Craps Taking the Free Odds bet?

Sevens

New Member
Messages
81
When you're playing, do you stick to standard bets or do you use the Free Odds bet to increase your possible winnings? There are some casinos where if you were betting say $10, instead of betting the whole amount as a straight bet, you were better off betting $5 on the bet you were going to make and $5 on the Free Odds to match it to increase your winnings.
 

Stealth

Member
Messages
150
The odds bet is the BEST BET in the casino! You get paid true odds.

My rule is to never have less than full odds.

Many games have 3.4.5 odds but several in Vegas have 10X or even 100X. So bet minimum on pass line and take full odds.
 

Larry D. Haight PhD

New Member
Messages
39
The double free odds bet is a dangerous fiction. Place bets are constructed as $1 at even odds, $4 at true odds. A Place 4 or Place 10 bet of $5 pays $1 at even money, $4 at true odds of 2 to 1. The payment is $9 to $5; $1 at even money, $4 at true odds of two to one. This relationship holds true for Place 5 or Place 9 but is obscured for Place 6 and Place 8. True odds are 6 to 5 so payment is made as $1.5 to #1.25. This calls for a bet of $6.00 which is paid as $1 at even money and $5 at $1.50 to $1.25. A Place $1 at even money and $5 at $1.50 to $1.25 has a payoff of $7 to a winning $6 bet.

There are significant differences between four times true odds and the double free odds bets. These have to do with that double free odds bets are coupled with a contract bet that cannot be called down. Place bets can be called down in their entirety. The double free odds bet does not contain any advantage that you already have.

It is not true that double free odds does not convey an advantage to either the player or the casino. A typical double odds system calls for taking double odds on three points. Three established points has nine bas units at risk; whipped out with a single roll of a 7. There are superior methods of betting craps than taking "double free odds."



When you're playing, do you stick to standard bets or do you use the Free Odds bet to increase your possible winnings? There are some casinos where if you were betting say $10, instead of betting the whole amount as a straight bet, you were better off betting $5 on the bet you were going to make and $5 on the Free Odds to match it to increase your winnings.
 

Larry D. Haight PhD

New Member
Messages
39
The double free odds bet is a dangerous fiction. Place bets are constructed as $1 at even odds, $4 at true odds. A Place 4 or Place 10 bet of $5 pays $1 at even money, $4 at true odds of 2 to 1. The payment is $9 to $5; $1 at even money, $4 at true odds of two to one. This relationship holds true for Place 5 or Place 9 but is obscured for Place 6 and Place 8. True odds are 6 to 5 so payment is made as $1.5 to #1.25. This calls for a bet of $6.00 which is paid as $1 at even money and $5 at $1.50 to $1.25. A Place $1 at even money and $5 at $1.50 to $1.25 has a payoff of $7 to a winning $6 bet.

There are significant differences between four times true odds and the double free odds bets. These have to do with that double free odds bets are coupled with a contract bet that cannot be called down. Place bets can be called down in their entirety. The double free odds bet does not contain any advantage that you already have.

It is not true that double free odds does not convey an advantage to either the player or the casino. A typical double odds system calls for taking double odds on three points. Three established points has nine bas units at risk; whipped out with a single roll of a 7. There are superior methods of betting craps than taking "double free odds."



When you're playing, do you stick to standard bets or do you use the Free Odds bet to increase your possible winnings? There are some casinos where if you were betting say $10, instead of betting the whole amount as a straight bet, you were better off betting $5 on the bet you were going to make and $5 on the Free Odds to match it to increase your winnings.
 

Larry D. Haight PhD

New Member
Messages
39
The double free odds bet is a dangerous fiction. Place bets are constructed as $1 at even odds, $4 at true odds. A Place 4 or Place 10 bet of $5 pays $1 at even money, $4 at true odds of 2 to 1. The payment is $9 to $5; $1 at even money, $4 at true odds of two to one. This relationship holds true for Place 5 or Place 9 but is obscured for Place 6 and Place 8. True odds are 6 to 5 so payment is made as $1.5 to #1.25. This calls for a bet of $6.00 which is paid as $1 at even money and $5 at $1.50 to $1.25. A Place $1 at even money and $5 at $1.50 to $1.25 has a payoff of $7 to a winning $6 bet.

There are significant differences between four times true odds and the double free odds bets. These have to do with that double free odds bets are coupled with a contract bet that cannot be called down. Place bets can be called down in their entirety. The double free odds bet does not contain any advantage that you already have.

It is not true that double free odds does not convey an advantage to either the player or the casino. A typical double odds system calls for taking double odds on three points. Three established points has nine base units at risk; whipped out with a single roll of a 7. There are superior methods of betting craps than taking "double free odds."
 

sparc yhw

New Member
Messages
18
The odds bet is the BEST BET in the casino! You get paid true odds.

My rule is to never have less than full odds.

Many games have 3.4.5 odds but several in Vegas have 10X or even 100X. So bet minimum on pass line and take full odds.
If a person were allowed to play the free odds bet without playing the pass line there would be no advantage either way , by the house or the player , If you were to play the odds bet for say three hours non stop , at the end of that time you would be nearly dead even , so in short , with the best bet in the house you should over time just about break even

Is it not odd that the odds bet has no marked spot on which to place that bet?
The odds bet at one time was universally known as an unadvertised bet . Why would the casinos not advertise it ?
 

Larry D. Haight PhD

New Member
Messages
39
When you're playing, do you stick to standard bets or do you use the Free Odds bet to increase your possible winnings? There are some casinos where if you were betting say $10, instead of betting the whole amount as a straight bet, you were better off betting $5 on the bet you were going to make and $5 on the Free Odds to match it to increase your winnings.

Free odds is misnamed. A contract bet must be put and established before so called free odds can be taken. A Pass or Come or Do bet cannot be called down. The free odds bet may be called down by the player at any time. In theory, free odds benefit neither the Player nor the Casino. It would appear that if one bet $5 for 1000 times, the expected loss would be about 1.38% of the amount bet or $5000 x .0138 or $69 loss. This is an estimate, in a short trial of 1000 events, the result can vary considerably. Taking free odds in any amount does not change the expected loss, but will sometimes cause the variable expected loss to be greater or lesser.

Taking free odds should almost never be taken unless you have identified precision throwers, and then betting Do and taking odds can be beneficial to the bettor. A bettor taking free odds (double, triple) has a strong benefit for the casino, the reason the casino promotes a seemingly break even bet.

A typical bettor may approach a craps table with a $300 bank roll. The boxman has $50,000 in chips in front of him and can call for a refill. Taking free double odds results in the bettor betting out of proportion to his betting bank.

It is possible to have six point bets with triple odds, all of which are lost to a single roll of 7. Bank roll to bank roll, the casino takes the bettors bank when the bettor takes odds. In the description of flat betting with an expected cost of $69, leaving the bettor with $231, the casino will have taken a $300 bank from the double or triple free odds player many times.

A bettor may have a period of winning, in which case he normally increases the size of his base bet. The casino loves this because increasing bet size after winnings enhances the casino chance of bankrupting the player. In cases where the casino offers up to 100x odds, it is possible to derive a free odds (complex) betting system that will win (for the player) most of the time, but there are far better betting systems possible.

A system favorite for craps bettors is to Place the sister. Place bets are considered paired. 6 and 8 are sisters. 5 and 9 are sisters. 4 and 10 are sisters. If a $5 Do bet is made and 6 is established as the point, there are five combinations to be rolled (for a win) and six combinations to be rolled that make a 7 (loss). Assume that a point 6 is established. Place $6 on 8. A point of 6 and a point of 8 have equal chances of winning. The net result of having a bet on both is that there are 10 combinations that will produce a win and 6 combinations that lose. If the 8 is rolled (paying $7 to $6), take down the winnings and the Place bet. You will have a $2 winnings if the point bet (6) loses. If the 6 is rolled, take down the the point and winnings and the Place bet. Do bets can be made with every roll. If the roll is a 7, the previous point(s) and sister(s) will be lost, but you will receive a $5 win for the come out rolls.

Sister betting requires no thinking, is exciting and comfortable because it stays within the betting ratio of a buy in bank. In event of a long roll that ends with a final roll of 7 (loss of points and sisters), many prior points or sisters will have been hit and taken down. The final roll of 7 (loss) may still result in a net win for the hand. Compare this to the horrendous loss that would result from having multiple points covered with multiple free odds bets.

Place the sister betting system demolishes the idea that double or triple free odds have any benefit to a bettor. Do yourself a favor and forget free odds bets exist. They do nothing for you and strongly favor the casino. Buy bets have a cost and have multiple true odds, but that is a different topic, but one that should be considered if you are in a $25 minimum game. There are craps betting systems superior to sister betting but describing them takes a book. There is an excellent eBook (for $9.99) depicting the accounting of betting systems. If you are interested, go to amazon.com/author/larryhaight to order it.
 
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