Pay out on a "Put Bet"

I know we have had several threads on Put Bets over the past couple weeks. I went to play craps at the M and try put bets with the 6 and 8 with max odds ($5 w/$25 odds). I asked the dealer if they took put bets and they replied in the affirmative. After the come out roll I gave the dealer $5 w/$20 odds, I should have given him $25, but I messed up and gave him $5 w/$20 odds. He started immediately arguing with me telling me this was the same as a place bet. I simply said I am not sure of the payout but if you are paying the put and place in the same manner then you are paying it wrong.

The next two rolls were a 6 and 8. The dealer paid me $29 on the 6 and 8. Is this the right pay out for a put bet with a $5 bet w/$20 odds? And if this is the incorrect payout, then what is the house edge for this bet with that payout (The pit boss agreed with his payout)?

Further, the dealer continued to argue with me and I wasn't sure I was playing the put bet correctly so I just took my wins and walked away.


Thanks in advance for any comments.

yes its correct.

$20*(6/5)+$5 = $29

for a $5 put bet with $25 odds it would be:

$25*(6/5)+$5 = $35

exact same payout as a placebet.

$30*(7/6) = $35

Was the dealer correct in saying that no matter what the odds a put bet and place bet pay the same amount? A $25 place bet would pay $29 as well, but that isn't the correct pay off for that bet is it?

a $25 place bet would also pay $29 as well.

7/6 on $24 worth of the bet for $28 and 1:1 on $1 of the bet. $28 and $1 is $29.

A put bet is only adventageous if the casino offers greater than 5x odds. And even then, it's only slightly adventageous.

As I've mentioned before, I took a beginners Craps class at Stratosphere once. I already knew how to play, but had a half hour to kill. One point they made is that a $6 place bet on 6 or 8 is the same thing as a $1 put with $5 odds. Ditto for $5 on 5/9 being $1+$4, etc. I remember it because I was shocked that they were discussing put bets at a beginners class - while ignoring the most important thing a beginner needs to know: the relationship of where he stands to where the dealer moves his chips.

I guess I am confused because I can't find anywhere what the odds are on a put bet?

They're the same as a Come bet.