Craps Odds Strategy Explained: The Only Casino Bet With a Zero House Edge

The odds bet in craps is a side bet with a zero house edge. I show a craps simulator and explain the payoff ratios for the various point values. If you want to try the simulator yourself, go to:

https://wizardofodds.com

Scroll down to "Play For Fun", and click the craps table.

I assume that you are already familiar with the Pass bet in craps. If not, learn about it first at the Wizard of Odds website or Wikipedia before you watch the video.

The video explains the reason for the payout ratio for each point value. For example, suppose that the point is 10. A decision is rendered by throwing a 7, which loses, or 10, which wins. Any other throw is ignored.

There are 6 ways to throw a seven: 1-6, 2-5, 3-4, 4-3, 5-2, and 6-1.

There are 3 ways to throw a ten: 4-6, 5-5, and 6-4.

All together, there are 9 throws that render a decision, 3 that win and 6 that lose. Your chance of winning is 3/9, and your chance of losing is 6/9.

The odds bet is fair, so the payoff on a win is 6:3 (same as 2:1), so you win twice the size of your odds bet because you are twice as likely to lose than win.

In summary, the "taking the odds" side bet has a zero house edge and a payoff of 2:1, 3:2, or 6:5, depending on the point.

How does the casino make money on this bet?

Continue with Part 2 for the answer:

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