It is a game in which fortunes get to ride on the toss of two dice and the choices you make, all of which makes craps a particularly exciting casino game. There is also its low house edge which further adds to its remarkable appeal amongst fans and the fact that it is easy to learn, which is the icing on the cake.
And even though its outcomes rely on chance, it is also possible for you to actually influence your chances of earning real cash and enjoying a satisfying win.
It's all thanks to craps payouts and odds and we shall be examining all you need to know about these all-important factors to aid you in your quest of ending as many casino visits as possible on a high note.
Craps is a dice-based game and progresses according to the outcomes obtained following the toss of a pair of them.
These outcomes range from 2 to 12 and are obtained from a combination of numbers which show up on the pair when a throw is made during the game. It is worth noting that a greater number of combinations exist for certain numbers.
For example, 2 and 12 have the least number of combinations - one in each instance. This is due to the fact that the former can only be obtained by the presence of two ones showing up - an outcome also referred to as 'snake eyes', by craps enthusiasts - while the latter can only be obtained by the presence of two sixes.
The number 4 on the other hand, has a total of three combinations since it can be obtained by the presence of two twos, one and three or three and one.
In order to ensure you have the best chance at winning each game you play, you will need to be aware of the odds for each number covered. We examine why doing so is especially important.
In addition to different numbers having different probabilities for making an appearance, they also have different payout values assigned to them.
Those which are harder to obtain such as 2, 12, 3 and 4, for example, have higher values compared to those which have a higher probability of appearing more frequently such as 7 (which is considered the easiest of all to obtain), 8 or 10.
In addition to noting the odds associated with each number i.e., their true odds, you will also need to be aware of the amount the casino will actually pay you when you successfully bet on a particular outcome - a term referred to as the payout odds of a number.
The difference between the former and the latter is also known as the house edge and enables the casino to recuperate a bit of cash whenever it has to pay out funds for successful bets. This example we have provided shows how it is applied:
The odds of landing is a 7 is 5:1. However in the event of your landing it, the casino will actually pay you 4:1.
In order to be able to predict how much you are likely to win from a wager, you will need to divide the left digit in the payout ratio by the right to obtain a decimal. The payout value will then be the figure obtained from multiplying the fraction by the figure obtained.
For example, if you wished to wager $10 on a 9, at a betting website which offers payment odds of 7:5 for that number, you would be able to calculate the amount you are meant to win as follows:
$10 * 7/5 = $14
Hence in the event of your getting to obtain a 9 following the toss of the dice, the casino will issue you $14.