Place bet odds in craps
February 2nd, 2012 at 8:40:31 AM
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Where did the odds for place bets come from? I can only assume it was the first fraction with a denominator of 5 that was less than true odds? Just because people bet with nickels. That's still only true for 4,5,9, and 10. I'm not sure about 6 and 8.
February 2nd, 2012 at 8:50:29 AM
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I'm not sure what you're asking, but, it was explained to me, at an introductory craps class at Stratosphere, that place bets are nothing more than a below minimum put bet, with predetermined odds.
In other words, the $6 place bet for the 6 or 8 is really a $1 put bet with $5 odds. The $5 place bet for 4, 5, 9 or 10 is a $1 put bet with $4 odds.
Does that help?
In other words, the $6 place bet for the 6 or 8 is really a $1 put bet with $5 odds. The $5 place bet for 4, 5, 9 or 10 is a $1 put bet with $4 odds.
Does that help?
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February 2nd, 2012 at 8:59:58 AM
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I was taught Craps in Reno years ago by an old timer from Philly.Quote: Altima240Where did the odds for place bets come from? I can only assume it was the first fraction with a denominator of 5 that was less than true odds? Just because people bet with nickels. That's still only true for 4,5,9, and 10. I'm not sure about 6 and 8.
His story was this. I have no reason to doubt him.
Early Bank Craps had no place bets. The game was all about points. Pass and Come.
But players wanted more action so they were allowed to "Put" 1 with 5odds on the 6&8 and 1 with 4odds on the outside numbers.
added: The math does work out. DJ is correct.
Example 6&8 1 with 5X odds pays 1 + 6 or 7 to 6.
5&9 1 with 4x odds pays 1 + 6. or 7 to 5.
you can do the 4&10.
The reason behind this should be obvious.
Imagine 4 or 5 "Put" bets on each point box and the shooter plows into them.
What a cluster f**k!
So the birth of place bets.
It was done to clean up the table and speed up the game.
A natural progression
winsome johnny (not Win some johnny)
February 2nd, 2012 at 9:26:45 AM
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Thank you guys. That certainly answers my question. Put bets with odds. It makes sense. Just to let you know what I was thinking.
4 and 10 pays true odds of 2:1 or 10:5. Keeping in the true spirit of betting nickels, you just drop the 10 to a 9 and make 9:5 for a small house advantage.
5 and 9 would pay ?:5 in order to bet nickels and 7:5 is the closest without too much an advantage. You can't do the 6 and 8 because it would be true odds, therefore you bump it to 6 and we're back to ?:6, 7 being the closest without too much of an edge.
I don't know what i'm talking about. lol It just ran across my head.
Thanks again. Both of you.
4 and 10 pays true odds of 2:1 or 10:5. Keeping in the true spirit of betting nickels, you just drop the 10 to a 9 and make 9:5 for a small house advantage.
5 and 9 would pay ?:5 in order to bet nickels and 7:5 is the closest without too much an advantage. You can't do the 6 and 8 because it would be true odds, therefore you bump it to 6 and we're back to ?:6, 7 being the closest without too much of an edge.
I don't know what i'm talking about. lol It just ran across my head.
Thanks again. Both of you.
