The Place Bet
Place Bets – Are They Good or Bad for Craps Players?
Craps is a potentially rewarding game but only on condition you know your bets. Some of the wagers on the craps layout carry monstrous house edges and should be altogether avoided. Others yield little to no house advantage and can prove extremely lucrative in the long term. The subject of today’s article, the Place bet, is unique in that it offers both some of the best and some of the poorest odds of winning in craps. It all depends on which numbers it covers.
Place bets can be trickier to comprehend compared to other craps wagers, even more so for unversed players. The good news is we cover these multi-roll bets extensively in the following article where you can read all about how they work. We have included comprehensive information about the payouts, odds of winning, and house edges for this category of craps wagers. Tips on strategy are also featured in the article to help you extract maximum value from your Place bets.
How Place Bets Work
One of the first things to remember about Place bets is that gamblers can make them on any of the point numbers. Said point numbers include 4, 5, 6, 8, 9, and 10. Another important thing you should also remember is that just like most other bets available on the craps layout, place bets involve betting against the 7. In other words, the 7 and the specific point number you are backing are the only numbers that will determine the outcome of the round, that is whether your bet is a winning or a losing one.
Three outcomes are possible when making a Place bet. If the shooter rolls a 7 before the point number, your Place bet loses. Conversely, Place bets win provided that the respective point number hits before a 7 appears. If another point number gets rolled, it has no bearing on the outcome as the shooter will continue rolling the dice until either a 7 or the respective point number hits.
Craps players are allowed to bet on the place numbers at any stage after the come-out roll without being required to bet on the Pass Line or make Come bets. Let’s assume you want to bet that Place number 9 will show up before the 7. To do this, you must position your chips in the Come box and tell the dealer you wish to “place the 9”. The dealer will simply move your chips in the betting box containing number 9. It is important to note that your chips will be placed in a specific area of the betting layout, which is determined by your position at the craps table so that it could be clear that this is your stake. After you have backed a Place number, the Place bet starts to resemble the Come bet.
To proceed with our example, you will win provided that the shooter rolls a 9 before a 7. If 7 shows before Place number 9, you will lose the bet. All remaining numbers are neutral and have no impact on the outcome of your Place bet.
Another distinctive trait of the Place Bet is that players are allowed to make it or take it down at any point. Place bets are also known as “standing” bets because they remain active until they either get settled or players take them down themselves.
Many casinos stick to the rule that Place bets are unavailable or are off before the come-out roll. If a player wants their Place bet to remain active, they simply must tell the dealer and a button labeled “ON” will be positioned on top of their chip stack. After the come-out roll, this button is removed and your Place bet will remain active either until you decide to take it down or it gets resolved. Craps novices should keep in mind that the terms “turning off” and “taking down” a Place bet do not exactly refer to the same thing. If you decide to take down your bet, your chips will be removed from the corresponding betting box on the layout. But if you decide to turn it off, it will remain inactive during the next dice roll only.
Thus, if you wish to make a Place bet on 5, 6, 8, and 9, and say that you want to wager twenty dollars inside, the dealer will know that you want to place your bet namely on the aforementioned numbers. Respectively, if you intend to make a Place bet on 4, 9, and 10 and you say twenty dollars outside, the dealer will know that you prefer to back specifically these numbers. If this sounds too complicated and makes you feel uneasy, the alternative is to tell the dealer to place four, nine, and ten.
The Place Bet Payout and Odds
One of the main reasons why the Place bet is so popular among gamblers is that it comes with a relatively low house edge, which makes it an advantageous option for players. This also makes the Place bet one of the better bets available at the craps table, which is among the main reasons why craps fans should consider incorporating it. However, players should keep in mind that the payouts and house edges of winning Place bets vary depending on the respective Place number.
Let’s go back to the example we gave with backing Place number 9. There are four ways to win in this case since there are four possible dice combinations for number 9. On the other hand, there are six ways to lose by rolling 7 before 9. It is important to note that the true odds of 9 coming up before a 7 are 3:2. The payout you will get is lower at 7 to 5 (7:5). The house edge for Place bets on number 9 is 4%, and this is not low enough from the perspective of well-versed craps players. The same goes for Place bets on number 5 as the true odds are again 3 to 2 (3:2), the house edge is 4%, but the payout is lower at 7:5. Thus, if you wager $10 and you win, eventually, you will get $14 instead of $15 as the true odds dictate.
Making a Place bet on 6 or 8 is considered one of the best options in craps because these wagers yield a low house advantage. If we assume you have decided to wager $30 on 8 and end up winning, you will get $35. The payout at true odds should be $36, which makes for a tolerable house edge of 1.52%.
Gambling enthusiasts should memorize the payout for each winning number, as well as the multiples they must bet. Craps players should bear in mind that these multiples are determined by the place odds. Let’s use the pair 5 and 9 as an example where the place house odds are 7 to 5. This means you will get $7 for every $5 you wager. Hence, the bet multiple for the 5 and the 9 is $5.
Playing the Place Bet
Once we have clarified some of the most important aspects of the Place bet, we will go through one more possible scenario craps novices should consider. While the new shooter for the game prepares, you decide to bet $5 on the 9. Let’s assume that the place number for the gamer is 10. Once you have indicated that you want to make such a bet, the dealer will then move your chips to the 9 point box. As we already stated, the position of the box depends on your position at the craps table.
Let’s assume that 11 shows after you make your Place bet. Since this is one of the neutral numbers for Place bets, the round continues. Let’s presume you decide to make a Place bet on the remaining inside numbers that include 5, 6, 8, and 9. Let’s say that number 6 shows. This means the bet you have made on the 6 wins and pays off. Now, you decide to leave your bet on the 6. The next number that appears is 12 and the game continues because craps number 12 is irrelevant for the outcome of Place bets.
It is important to note that when your Place bet wins, you have the option to let it ride or collect your payout. If you decide to let it ride, your bet will win each time your Place number appears before a 7 and lose whenever the 7 shows before the Place number. Gambling aficionados should also keep in mind that it is up to them to decide whether they prefer to increase or decrease their Place bet – they can do so at any point.
What to Do while Making a Place Bet
One of the most important things you should remember about craps, especially at landbased casinos, is that gamblers should not place their chips on the layout before they get the attention of the dealer. This is of major importance for non-self-service wagers like the Place bet.
You simply cannot mess up the chips at online craps tables but this is not the case when playing craps at a brick-and-mortar casino. When playing at landbased casinos, you should never toss or to throw your chips on the table layout. Instead, you should position them in the Come box and inform the dealer which number you wish to back with your Place bet.
If you have made a winning Place bet and say nothing, the dealer may assume that you prefer to let it ride. That is why it is always a good idea to inform the dealer whether you prefer to increase, decrease, or remove your Place bet.
Place Bet Strategy
Let’s assume that you are intent on making a $6 Place bet on 8 and 6. If we assume the table is cold, you are advised to leave your Place bet on until the first hit occurs. When this happens, craps players are advised either to remove their Place bet from the table or to turn it off for yet another roll. If, for example, the numbers that have shown after you have staked $6 on the 8 and the 6 are four, nine, and six, you should remove or turn off your Place bet.
In the event that the table is choppy, gambling enthusiasts are recommended to leave their Place bets working throughout the first six rolls or until the first hit occurs. As long as the first hit takes place within the first three rolls, then you are advised to leave your bet working and to start counting all over again. If there are six rolls and all of them result in losses, it would be better if you take your Place bet down.
If the table is hot, you are advised to leave your Place bet working throughout the entire duration of the roll. When the Place bet becomes a winning one, you are advised to press it. In addition to this, you should also make another Place bet when the shooter makes his point. You should continue in the same manner until it turns out that you have made your Place bet on the established place number. Then, you should simply have your Place bet down or move to another number.