Craps Place Bets Payouts

The house edge for this bet is 4.76%. Although the odds are lower than the other medium odds options, this is still a good choice for players who want craps payouts larger than 1/1. Place Bet - 5 or 9. With only a 4% house edge while paying out at 7/5, the Place Bet - 5 or 9 is a good option for adventurous players. A lay bet is the opposite of a buy bet, and also comes with a 5% commission. With this wager, you are betting on a 7 being rolled before a specific number, in the same way as a place lose. It offers higher payouts than a place lose, which vary depending on the number chosen. An easy way to remember the place bet payoff is by memorizing the particular payoff. For instance, the numbers 4, and 10 have a payoff of 9 to 5. Therefore, as the player, if you remember that the first number (9) listed in the payoff is the amount of dollars you will win if you bet the dollar amount of the second number (5). These bets are located in the center of the craps table. You choose one of these bets and hope they occur on the next roll. For example, if you choose Snake Eyes you're betting that two one's will be rolled on the very next roll. There are a number of proposition bets that change depending on what casino you’re playing in and in what country.

• Payouts On Craps Bets
• Craps Payouts Formula
• Craps Place Bet Payout Chart
• Place Bet Odds
• Craps Place Bet Payouts
• How To Calculate Craps Payouts

This post is necessary for the Real Craps Game video that will come this Thursday.

A few people have asked about more high stakes videos. Well, this Thursday, I will be posting a high stakes craps game that involves put bets. At first, I was going to do another high stakes video involving pass line+odds or come+odds. When it comes to high stakes bets, I refuse to give up too much advantage to the house. The problem with the RoadGambler method of play is that I’ve already done it three times on video; it was time for something new.

At the same time, as few people on various Facebook groups were asking about put bets. That’s where I hatched the idea of a put bet video.

It is time to put out another high stakes game while also answering the question of, ‘what is a put bet?’

For the very short and simple explanation, skip to the very end.

WHAT IS A PUT BET?

A put bet is simply a pass + odds or come + odds combination where the player gives up the advantage of the come out roll. That’s all there is to it.

Here is a pic from the upcoming game. This is $5250 worth of put bets. Like I said, it’s going to be a high stakes game with yours truly playing it out for your entertainment.

For reference, the pass line or come bet portion of the bet is known as the ‘flat’ because it pays even money.

Here is a close up that breaks up and shows the flat and odds part of the bet…

With standard pass+odds and come+odds betting, the player has a 2 – 1 advantage on the flat bet on the come out roll. On a put bet, the player gives up this advantage.

Reasons why Players May Prefer Put Bets

Players typically prefer put bets (over pass+odds or come+odds) for the same reason players prefer place bets.

Some players hate to see numbers rolled and not be paid.

Also, with a put bet, the player can select which number to bet and ‘put’ that number. Players who believe in ‘trends’ value the ability to select the number as a great advantage.

With a come bet, the player does not select the number; rather the dice selects the number.

WHEN TO USE PUT BETS OVER PLACE BETS

The following is the break even point for a put bet and place for each point is as follows..

• Point of 6 or 8, 5x odds
• Point of 5 or 9, 4x odds
• Point of 4 and 10…

• —If the commission is paid after the win, the player needs 19x
• —If the commission is paid before the win, the the player needs only 6x odds

(source: Wizard of Odds)

Note that the above is only true if the player has his or her odds working 100% of the time. If the player does not work the odds 100% of the time, the multiplier is higher.

Here is what I mean by the ‘break even point’…

On a place bet of 6 or 8, a $30 win on either number pays $35

On a put bet of 6 or 8, a $30 win on either number also pays $35.

Both bets pay exactly the same amount.

On a put bet of 6 or 8, the $30 bet is broken down into $5+$25. In such a bet, the flat pays $5 and the odds pay $30, for a total of $35. Remember that for this break even point to be true, the odds must work 100% of the time.

Example of Why a Put Bet Can be Better than a Place Bet

Let’s say the point is 6.

• —win will pay $70

• Put bet of $60, which is broken into $5 + $55 (11x odds)

• —the payout on a win will be $5 on the flat and $66 on the odds, for a total of $71

So on the same bet, the player wins an extra $1 for the same win-loss conditions as a place bet.

Let’s use a higher multiplier than 11x. Let’s assume the player is a high roller and plays on a 100x max odds table.

• —a win will pay $700

• put bet of $600, which is broken into $10 + $590 (59x odds)

• —the payout on a win will be $10 on the flat and $708 on the odds, for a total of $718

So on the same $600 bet, the player wins an extra $18 for the same win-loss conditions as a place bet.

Let’s do another example with another point.

Point of 5

• —win will pay $140

• put bet of $100, which is broken into $10 + $90 (9x odds)

• —the payout on a win will be be $10 on the flat and $135 on the odds, for a total of $145

So on the same $100 bet, the player wins an extra $5 for the same win-loss conditions as a place bet.

Let’s use a higher multiplier for the same point of 5. Let’s assume the player is a high roller and plays on a 100x max odds table.

Point is 5

• —win will pay $700

• put bet for $500, which is broken into $10 + 490 (49x odds)

• —the payout on a win will be $10 on the flat and $735 on the odds, for a total payout of $745

So on the same $500 bet, the player wins an extra $45 for the same win-loss conditions as a place bet. This means the player receives an extra $45 for doing nothing more than ‘knowing’.

This is another reason why 100x tables are so powerful. Many players argue that 100x odds games have no inherent advantage because, in the end, the 100x bettor and the $5 low roller will have the same, realized loss. But a 100x max odds table allows for players to ‘put’ higher odds, which results in winning extra money for doing nothing more than having knowledge.

Why It’s Important to Know the Break Even Multiplier

If you go below the break even multiplier, you are better off placing the number.

The following is an example of why…

Point is 5

• —win will pay $42

• put bet for $30, which is broken into $10 + $20 (2x odds)

• —the payout on a win will be $10 on the flat and $30 on the odds, for a total payout of $40

So on the same $30 bet, the player loses $2 on the put bet because the multiplier was not high enough. That’s why it’s important to know the break even multiplier.

If you are in doubt, then go with this imperfect rule across the board: your odds must be at least 5x in the points of 5, 6, 8, and 9 and do not put the 4 and 10. It’s not a perfect rule, but it will prevent you from losing too much.

HOW TO MAKE A PUT BET

To play the put bet, tender your chips in the same way you would tender your chips for a place bet and say that you want to put the number.

The result of you saying ‘put’ is that the position and stacking of your chips should look like a come bet.

You can put multiple points. If you put multiple points, it would avoid confusion (and is polite to the dealer) to cut out your individual puts first. For example, if you’re placing 6 and 8, you can just tender $120 in one stack.

But if you put 6 and 8 for $50 each, cut your chips into two $50 stacks.

WARNING: if your bet is positioned and stacked like a place bet, then it’s a place bet. You will be shorted on the payout if you do not verify that it is a put and not a place bet. Just for reference, here is what your put bet positioning should look like…

To make sure, ask your friendly dealer, is that a ‘put bet or a place bet?’ I generally do not like yes or no questions in this case because the casino environment can be loud.

DOWNSIDE TO THE PUT BET

There are three major downsides to the put bet.

The first downside is that sometimes dealers are not familiar with put bets, and here can be confusion about what to do. You will see an example of this a couple of times in the put bet videos.

The second downside is that many casinos, where it would be advantageous to use put bets, do not allow put bets. That’s really the main problem with put bets. They’re hard to find.

The third problem is that put betting requires a rather stout bankroll to play for any period of time. Players on a limited bankroll – such as $100 – are not going to be able to use put bets, unless they want to have a very short stacked bankroll.

Addendum:

Reader Henry S. asked two great questions about the put bet that requires me to add this downside, especially if you’re the type of player who likes to move his or her place bet around.

The put bet is treated exactly like a pass+odds and come+odds combo. The player can call off or take down the odds portion of the bet, but the flat is a contract bet.

Similarly, if the player wishes to move their put bet number to another number, the player must pay for the flat portion of the new number. The ‘old’ number would then have a name flat bet with no odds, and the player would play it out as it it had no odds.

Without spoiling too much of what is to come in the videos, you will see this in action in Part 2. It will become very clear.

ROADGAMBLER THOUGHTS ON THE PUT BET

Payouts On Craps Bets

I prefer pass and come bets to the put bet.

Mathematically, pass and come + odds are still a better play. For the players who absolutely insist on the place bet, if the casino allows put bets, and the player is playing high enough of a multiplier, there is little reason to not use the put bet.

TL;DR

Put bets are simply the pass+odds or come+odds combination bet where the player foregoes the come out roll. The bet is paid exactly like how a pass+odds or come+odds would be paid.

The casino has the advantage on the flat bet portion of the put bet, but on the odds portion of the put bet, there is no house edge.

That’s it!

If you’re still confused, you will be able to watch actual putt bets in action this coming Thursday.

In the meantime, if you have any questions or comments, feel free to drop them in the comment section below.

Posted in: Craps, Gambling

I recently discussed the Free Odds bet. https://roadgambler.com/craps/craps-simple-beginners-guide-free-odds-bet/ Let’s now discuss the cousin of the Free Odds bet, the place bet.

Place bets are one of the most popular bets in the game of craps.

The chips that are straddling the lines in the picture below are place bets. The green chips, resting on top of the red chips, are come bet odds.

Craps Payouts Formula

The place bets above are identified by their placement in the middle of the box lines, whereas the come bet + odds are entirely inside the box.

WHAT ARE PLACE BETS?

Place bets are wagers that a 4, 5, 6, 8, 9, or 10 will roll before the number 7 rolls. The 4, 5, 6, 8, 9, and 10 are known as ‘box numbers’. They’re called box numbers because on the craps layout, the numbers are literally in an area that is box-shaped as seen in the pic above.

The player may wager on any, all, or any assortment of the box numbers.

Betting on all the box numbers is known as betting ‘across’.

Betting on the 5, 6, 8, and 9 is known as betting ‘inside’.

Betting on the 4, 5, 9, and 10 is known as betting ‘outside’.

A lesser known place bet assortment is betting on ‘even’, which is 4, 6, 8, and 10.

Generally, while some players say ‘even’ to signify betting on the 4, 6, 8, and 10, players generally do NOT say ‘odd’ to bet on the 5 and 9. They just say, ‘5 and 9’. The reason is that the term ‘odd’ has the meaning of the free odds bet.

Unlike the odds bet, however, a place bet does not need to be accompanied by a pass or come bet; in other words, there is no ‘flat’ bet requirement. A bettor can wager a place bet by itself, with no other bets on the table. As a matter of fact, many players play place bets and nothing else.

WIN-LOSS CONDITIONS OF THE PLACE BETS

The place bets have exactly the same win-loss conditions as the odds bet. The place bet will win if the point assigned to that odds bet rolls before the 7 rolls.

Craps Place Bet Payout Chart

For example, if the place bet is on the 8, and the 8 rolls before the 7 rolls, then the place bet on the 8 will win.

If the 7 rolls before the 8 rolls, then the place bet on the 8 (and any other ‘working’ place bet) will lose.

Place bets can also be wagered and made live at any time. Be warned that typically if the bettor has a place bet, and the next roll is a come out roll, then the place bet will NOT be working unless the bettor tells the dealer that the place bet is working. Place bets, unless declared otherwise, are always presumed to be off on the come out roll.

PROPER BETTING INCREMENTS

You must be aware of proper betting increments on the place bets. Warning: betting increments on the place bets are different from the proper betting increments on the odds bets.

The following are the payouts for each point…

Place Bet Odds

Place bet on 4 or 10

• Any increment of $5
• If the bettor is going to bet $20 or more on the place bet of 4 or 10, the bettor is better of ‘buying’ the 4 or 10.

Place bet on 5 or 9

• Any betting increment of $5
• If the bettor is going to bet $20 or more on the place bet of 4 or 10, the bettor is better off ‘buying’ the 5 or 9.

Point is 6 or 8

• Any increment of $6.
• Do not confuse the place bet increment of the 6 or 8 with the odds bet, which has a proper increment of $5.

PAYOFF ON THE PLACE BETS

Place bet on 4 or 10

• Every $5 increment will pay $9
• For example, if the bettor bets $10, the payout will be $18.
• The reason why the ‘buy’ is better is because if the place bet on the 4 or 10 is $20, then the payout will be $36; however, a buy bet of $20+1 will pay $40. Just think of it this way: for one extra dollar, you obtain an extra $4.

Place bet on 5 or 9

• Every $5 increment will pay $7
• For example, if the bettor bets $10, then the payout will be $14.

Point is 6 or 8

• Every $6 increment will pay $7.
• For example, if the bettor bets $12, then the payout will be $14.
• The penalty for confusing the place bet increment with the odds bet increment is that the casino will round down. For example, if the bettor bets $10 on the place bet, the casino will pay $11. The breakdown is that the first $6 will pay $7, and then the remaining $4 will pay even money $4. Thus, $7+$4=$11. If the player had bet an extra $2, instead of $10 place bet on the 6 or 8, the player would have gained an extra $4.

CONCLUSION

Place betting is one of the best bets at the craps table. While not as good mathematically as the odds bet, the place bet has the advantage over most other bets in that the place bets take, on average, 4 rolls of the dice to resolve. Imagine how much longer you could play, and how long your bankroll would last if on a game, such as blackjack, where you had to play four hands to win or lose one wager. Or if you had to spin the reel on a slot machine four times to determine a win or lose.

Most players are not fans of waiting out the protracted time it takes to resolve a single place bet. For those players, myself included, I prefer to make multiple bets, which is a viable option.

TEST YOUR MIGHT!

So now that you’ve read this article and you can identify the place bets on the layout, let’s take a little pop quiz.

In the pic below, identify the bets that are NOT place bets…

Answer below…

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Bonus question…

Of the chips in the pic directly above, with the four arrows, how many bets are NOT place bets? In other words, identify the bets that are NOT place bets…

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Craps Place Bet Payouts

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Answer:

There are five bets that are not place bets.

How To Calculate Craps Payouts

The bets that are NOT place bets are the following:

Remember, the odds bet cannot be made without a come bet, so there is a come bet hiding under the odds bet.