Craps dealer bets

At my casino players mostly put up 1$ bets for us on the place bets. The casino rounds up, so a 1$ place bet on the 6 or 8, for example would pay 2. Most players do player control, so we keep our bets up and they often ask us what we want to do with the bet. A couple of the other dealers like to parley the 1$ bet to a 3$ bet and then to a proper place bet after that. So, if it hits twice on the 6 or 8 we are up to 6$ with one dollar in the box. I tried to explain that we would be better off leaving 1 up and dropping two every time than pressing at all. I didn't do a very good job of arguing my point and the argument went on way longer than it should have. Can anyone explain the expectancies of each scenario and also tell me what the ideal strategy would be?

Quote: Mikek12

At my casino players mostly put up 1$ bets for us on the place bets. The casino rounds up, so a 1$ place bet on the 6 or 8, for example would pay 2.

Uhhhh ... really?

Quote: MrV

Uhhhh ... really?

Yeah. In Atlantic City and perhaps elsewhere, those toke bets get rounded up. In fact ALL non-standard bets would get rounded up, but management is all over it asking players to fix the bets. Except for tokes.

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But to the OP's question, pressing it up to $6 is the correct move.

Look at it this way:

After the first hit, you can either lock up that $2 payment, or press it to $3.

After the second hit, you could have locked up $4 total, or you can press it up to $6 and lock up $1 (The $3 bet should pay $4). OK, your way, you'd have $3 more locked up.

After the third hit, you could have has a total of $6 locked up, or collect $7 for a total of $8. Their way is now $2 better.

Also, each additional hit, you could lock up $2 your way or $7 their way.

Bottom line, if it only hits once or twice, your way is better. Three times and pressing it better. Four or more times and pressing it is WAY better.

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Some AC casino's keep pink $2.50 chips on the craps table just for tokes. I.E. Those odd $1 toke bets are accepted but not allowed to be player controlled. When they hit, the $1 goes into the bank while only $2.50 goes into the toke box.

FYI, there is a duplicate thread to this one here. I think we should confine our comments to this one only, but RS had a good reply on the other thread:

Quote: RS

With a $1 bet, put it on the six or eight. When/if one hits, place $1 on the other (whichever one you don't have) and the other $1 on 5 or 9. When/if another hits, place $1 of winnings on the other 5 or 9, and drop the remaining $1. After that, always drop the $2 win. Don't place the 4 or 10 because if that pays $2, that's true odds, and you expect to break even on that bet.


Also note that sometimes when a player asks where you want the dollar to go, your best bet may actually be a pass line or come bet.....knowing that the player might put some odds on that bet. If the guy is always putting odds on it, or frequently does, this is the best bet for you.

I agree with this assessment, if the dealers control their bets/winnings.

For the 6/8, the $1 bet carries a 36% advantage or +$0.36 per bet. The $3 bet carries a 6.1% advantage, or +$0.18 per bet. So you are better off, by $0.18 per outcome, to leave the $1 bet up and bank the winnings, after you cover all the inside numbers.

The 5/9 carries a 20% advantage for the $1 bet. Interestingly, assuming the $3 bet pays $5 on a win, the advantage drops to 6.7%, but the expected profit for the bet is $0.20 -- the same as for the $1 bet. So, bank your winnings for less variance, or press to $3 for more, but your expected profit will remain the same.

What happens if you shoot from the don'ts? Will they pay $1 for every $1 lay, you stipulate is a dealer bet?

After reading Joeman's reply, I'm changing my answer.

If you're a math guy, lock up the wins. It's better in the long run.

If you're a gambler, press to $6. It feels better, particularly if you hit it a few times.

Thank you all. Really wish I could understand this math, but since I'm not a dealer it won't matter to me.

Quote: DeMango

What happens if you shoot from the don'ts? Will they pay $1 for every $1 lay, you stipulate is a dealer bet?

For a while at Harrington DE they would do this. Somebody caught on and stopped me from doing it though.