Free Odds Bet
| Updated: Overview of the Free Odds Bet
One of the main aspects of craps is the wide array of betting options it offers. This is also why the table layout looks so busy, incorporating different sections with various wagering areas. Although some options may look tempting thanks to their high payouts, players should also pay attention to the house advantage of each betting option. For instance, the center section of the craps table offers the so-called proposition bets, which appear to provide generous payouts. However, the bets in this section have the highest house edge, which means there are plenty of other wagering opportunities that may prove more advantageous.
If we base our choice of stakes in craps on the house edge, then the Free Odds bet is definitely considered the best option for your money. This type of bet is also known as “true odds” because it gives the casino no advantage. If you are interested in craps, you will often see experts recommending that players take advantage of this betting option.
You may think that a casino game offering a bet with no house edge sounds too good to be true. Well, the Free Odds bet is a bit complex, and it would indeed be unrealistic to believe that the house will simply let you enjoy an effortless win. That said, there is a reason why this type of craps bet is considered very advantageous, and we will reveal all the details you need to know about it in this article.
Free Odds Bet Explained
When it comes to the Free Odds bet, there are definitely both advantages and disadvantages. Although many craps experts will recommend that you put your money on this type of bet, you should know that you cannot simply make a Free Odds bet. You must first place either a Pass Line, Don’t Pass, Come, or Don’t Come bet.
You will notice that despite the fact that this bet is combined with one of the aforementioned wagers, there is no special section for it on the craps table layout, nor will you be able to see the exact payout for the “true odds” stake. Nevertheless, you can be certain that any reputable brick-and-mortar casino will allow craps players to take advantage of this betting option. Even if you are playing online, you will still be able to make a Free Odds bet.
Even though the requirement to first make a Pass Line, Don’t Pass, Come, or Don’t Come bet is considered a slight drawback, many players still opt for this stake. The reason is the lack of house edge, which is rarely found in a casino game.
Before players can make any of these bets, however, the come-out roll must be a number different from the naturals (7 and 11) and the craps numbers (2, 3, and 12). This will lead to choosing a point number (4, 5, 6, 8, 9, or 10). After the dealer has put the puck with the “ON” side facing upwards in the point box, players can make a Pass Line, Don’t Pass, Come, or Don’t Come bet, which will also allow them to place a Free Odds bet.
In most casinos, players are allowed to stake 1x, 2x, or 3x their initial wager when they make a Free Odds bet. Sometimes, however, players have the chance to bet 50 or even 100 times their initial stake. This gives craps fans the opportunity to enjoy great payouts, and the higher the Free Odds bet is, the lower the house edge becomes.
- Taking the Odds
| Odds Offered | House Edge of Pass and Come Bets Plus Odds |
|---|---|
| 1x | 0.8% |
| 2x | 0.6% |
| 3x | 0.5% |
| 3x, 4x, 5x | 0.4% |
| 5x | 0.3% |
| 10x | 0.2% |
| 20x | 0.1% |
| 100x | 0.02% |
As you can see, the edge the house gains over players shrinks as a larger portion of your stake is in odds. For players to benefit from an even lower house edge, they should consider laying the odds on Come and Pass bets.
- Laying the Odds
| Odds Offered | House Edge on Come and Pass Bets Plus Odds |
|---|---|
| 1x | 0.7% |
| 2x | 0.5% |
| 3x | 0.3% |
| 3x, 4x, 5x | 0.3% |
| 5x | 0.2% |
| 10x | 0.2% |
| 20x | 0.07% |
| 100x | 0.01% |
Does the Free Odds Bet Really Have No House Advantage?
As mentioned earlier, the reason why so many players enjoy making a Free Odds bet is that it has no house edge. If you are wondering how it is possible for the casino to make a profit on a bet that gives the house no advantage, you should know that it is indeed impossible.
The thing about the True Odds bet is that it really has no house edge itself, but it cannot be made unless players have previously placed another type of bet. This automatically gives the house a certain advantage, yet it is considerably lower compared to other casino games.
Because it is combined with one of the so-called flat bets, the Free Odds bet may carry a different overall house edge. To help you understand the casino’s advantage under various circumstances, take a look at the house edge of the Pass Line, Come, Don’t Pass, and Don’t Come bets alone. All of these flat bets give the casino an approximate advantage of 1.4% when players have not made an additional Free Odds bet. However, if you decide to stake money on Pass or Come with single odds, the house edge will drop to 0.8%. As mentioned earlier, the higher the odds bet, the lower the casino’s advantage will be. This is why, if you wager money on Pass or Come with double odds, the house edge will decrease to 0.6%.
The casino still has the upper hand when it comes to Don’t Pass and Don’t Come with single odds; however, the advantage is lowered to 0.7%, while the same options with double odds offer a house edge of only 0.5%.
The reason why the Free Odds bet has a house edge of zero is that the casino pays true odds instead of odds that would yield the house a profit from players’ winnings.
As mentioned earlier, each casino may impose a different limit on the odds you can bet. The maximum odds that players can wager are usually displayed on a sign on the inside wall of the craps table. Even if you cannot see the limits, you can always ask your dealer about the maximum odds you can stake when you opt for a Free Odds bet.
Taking and Laying Odds
When it comes to this specific type of craps bet, there are two options that are classified as Free Odds bets. The first is “Taking Odds” and the second is known as “Laying Odds”. The former can be placed on Pass Line and Come bets, while the latter is possible if you have previously bet on Don’t Pass or Don’t Come.
Although at its core making a True Odds bet is the same action whether it is “taking odds” or “laying odds” there are a few small differences you need to learn before placing such a wager.
Taking Odds on Pass Line Bets
Players have the chance to take odds on Pass Line bets, but only if there is a point number. This happens when the shooter rolls any number that is not a natural (7 or 11) or a craps number (2, 3, or 12). Betting on the Pass Line means that you are putting your money on the shooter rolling the point before a 7. Simply put, if you opt for taking odds on the Pass Line, you are just wagering more money on the point number being rolled before a 7.
The payout that players receive for this bet depends on what the Pass Line point is. If, for example, the point is 4 or 10, the winning chances are 2 to 1 in favor of the casino. This is due to the fact that there are only three possible combinations of 4 and 10, while there are six possibilities to throw a 7. This is why the payout for taking odds on the Pass Line for points 4 or 10 is 2 to 1.
When the point is 5 or 9, the odds are again against you and are estimated at 3 to 2. This is because the chances of rolling 5 or 9 are only four, which is still fewer than the six combinations for 7. This means that you will receive a payout of 3 to 2 for taking odds on the Pass Line if the point is 5 or 9. That said, despite the fact that the payout for a $5 odds bet on points 5 or 9 should be $7.50, most casinos pay only $7, while the remaining 50 cents are what the casino calls “breakage”.
If the point is 6 or 8, the odds of 6 to 5 are yet again against you. While there are six different combinations for 7, the possibilities for rolling 6 or 8 are only five. If you are betting odds on point 6 or 8, you are advised to make five-unit bets, as this will help you receive the proper payout without having to pay “breakage”.
To take odds on the Pass Line, you simply place a chip or a stack of chips a few inches behind your Pass Line bet. Any time there is a point for the Pass Line, you can increase, lower, or remove your odds bet. If you win, the dealer will place your chips next to your Pass Line bet, and it is your duty to take your chips off the table; otherwise, the dealer will assume that you are pressing up your initial bet by adding your winnings.
Laying Odds on Don’t Pass Bets
Making a Don’t Pass wager is basically the opposite of betting on the Pass Line. If we look at the game at the point of the come-out roll, players who place their money on Don’t Pass are at a disadvantage since there are six possible combinations of 7 that will cause them to lose their wagers. On the other hand, there are only three ways to roll 2 or 3, which will result in their win.
However, once a point is established for the shooter, players who have made a Don’t Pass bet gain a bigger advantage since they are wagering on 7, which has better chances of rolling before any of the point numbers. Because players have the advantage in this situation, the casino allows them to give up their Don’t Pass flat bet at any point in the game and simply remove their wager.
Since gamblers who place their bets on the Don’t Pass Bar are betting on the shooter not making the point before rolling a 7, they “lay the odds” when they make this additional bet. Just like taking odds, the payouts for laying the odds on the Don’t Pass bet depend on the point number.
When the point is 6 or 8, the odds of 6 to 5 are in favor of players who lay odds on Don’t Pass, which is why, when this bet is won, they will receive $5 for every $6 they wager.
When you are making this bet, do not place your chips on top of your initial Don’t Pass bet, as this is considered “past posting”. The proper way to lay odds on Don’t Pass at craps is called “heeling” or “bridging” a lay.
If, for example, you have made a flat bet of $10 on the Don’t Pass Bar, you can lay your odds by grabbing chips worth $30. Place the bottom chip on the craps table layout and stack the remaining chips around the first one you placed. This is what “heeling your lay” refers to.
Meanwhile, if we take the case when the point is 4, we can “bridge the lay”. Let us assume that the player has made a flat bet of $10. He or she can then bridge the $20 lay by placing those chips on top of the initial bet. This can be done because the payout for the lay in this case ($10) is the same amount as the payout for the flat bet ($10).
Taking Odds on Come Bets
When you play craps, you place your flat Come bet directly in the Come box of the table layout. When a point is established, the dealer will move your chips to the corresponding point box. Just as with the Pass Line flat bet, you can take odds on your Come bet. In this case, however, you cannot do this by yourself.
When you are making a Free Odds bet on Come, you will have to let the dealer on your side of the table know. He or she will place your odds bet for you after you have placed your chips in the Come box and told him or her, “Odds on my Come, please”. This will prompt the dealer to place your chips slightly offset from your flat Come bet. The chips on the bottom will indicate your initial bet, while those placed on top, slightly to the side, represent your odds bet.
If players decide to place a flat Come bet, the next throw of the dice is considered a come-out roll for that specific Come stake. Whenever a point is determined on the Pass Line, it is marked by the ON side of the puck. The point number for the Come bet, however, is marked simply by the chips of the players’ initial flat bet.
Players who opt for the Come betting option have the opportunity to make as many Come bets as they want while the shooter throws numbers other than 7. In fact, you can make a Come bet on all six point numbers and even have a flat Come bet in the Come box.
Laying Odds on Don’t Come Bets
The Don’t Come bet is quite similar to the Don’t Pass wager. The only difference is that the flat Don’t Pass is made before the shooter establishes a point, while the Don’t Come flat is made after the Pass Line point is established.
The Don’t Come flat bet is also a self-service bet, which means that you need to place your chips in the Don’t Come Bar section yourself. Once the point for Don’t Come is established, the dealer will move your flat bet to the wide rectangle above the corresponding point box. Just like the Don’t Pass bet, you are allowed to lay odds on Don’t Come.
When you want to bet odds on Don’t Come, you need to get the dealer’s attention, place your bet in the Come box, and say “Lay odds on my Don’t Come, please”. The dealer will then either heel or bridge the lay in the same wide rectangle where your flat bet is placed.
Just as with the Come bet, players can make as many as seven Don’t Come bets (six for each point number and one flat Don’t Come stake in the Don’t Come Bar). Like the Don’t Pass bet, after a point has been established, players can remove their Don’t Come flat bet at any point in the game. This is because in this scenario the odds turn in favor of the player, and the casino will benefit if he or she forfeits.