Quote: the Wizard in an ask-the-W
In the case of 20 times odds the house edge of the put bet on the 4 and 10 is 1.59%, on the 5 and 9 is 0.95%, and on the 6 and 8 is 0.43%. At this high level of odds allowed, which is much greater than the norm, all put bets are better than the corresponding place or buy bets. This option should never be taken at a casino that offers less than 5 times odds. At 5 times odds exactly, the put bet on the 6 and 8 is slightly better than the place bet. At 10 times odds or greater, all put bets become better than their corresponding place or buy bets
$5 with 20X? Yes, please!
Shockingly, the dealer was actually trying to give you good advice. If your bankroll can handle it, definitely put some Put bets out with better than 3/4/5 odds.
Sorta true sorta not true.
You'd be better off doing $5 put bet with $100 odds compared to a $105 (or $108 on 6/8) place bet. But the best bet is to do a $5 pass or come bet and then $100 odds, such that you get the small advantage on the come out roll (7 and 11 winners).
I remember dealing to a player once who wasn't the brightest bulb in the pack, to say the least. He had $10 pass + $10 continuous come bets, with $5 odds. When there was a 7 on the come out roll, he'd put-bet each of his come bets to keep them up, because "they're the best bets in the house". I tried to explain it to him a time or two that place bets would be better. But after two attempts at trying to help someone.....well, I'm not gonna keep trying.
The problem, according to many mathematically challenged gamblers, is that the come bet + max odds requires the number to hit twice before the seven. This is why you rarely see people playing come+odds.