Craps is significantly different from other online casino games in that there are literally thousands of different betting options. However, if you’re a novice, this may seem confusing initially. However, you will quickly become an expert craps player if you simply understand the principles behind craps odds, the house advantage on each bet and the number of possible outcomes that a bet can have. Once you have a grasp of these concepts, you’ll be able to play any type of craps game with favorable odds.
House Edge: One of the first things you need to know is the basic house edge, which is simply the percentage of total bets that your house has made against the total amount you would have won had you wagered the same amount of money on a live casino game. Most people don’t put much thought into this aspect of craps odds, but it actually counts for a great deal. The higher the house edge, the less control you have over the outcome of each individual game. For instance, if you wager a thousand dollars on a craps game with a two percent house edge, you’ll wind up making back that thousand dollars minus the amount of taxes, fees for the rollover to your account. While the two percent is a significant figure, remember that it’s not the only one that matters; each individual bet subtracts from the overall amount you could have won.
Number of Possible Payouts: While the number of possible payout amounts is a factor in your overall winnings, it is also important to keep in mind that there are an equal number of possible losses when you are playing craps. If, for instance, you bet five hundred dollars on a game with a one percent house edge and you end up losing all five hundred dollars (including the initial investment), you’ve just lost that entire bet and will receive no money back. Conversely, if you bet that the same amount but place three hundred bets, and you win all three hundred bets (including the initial investment), you’ve just potentially paid off one hundred dollars back to the house.
House Edge: Along with the craps odds, it’s important to realize that the house edge is the actual value of the bankroll at the time of the win. This doesn’t include any winnings or losses, of course, since they’re applied to the principal amount you started with. In most casinos, the actual house edge can be as much as twenty percent, although some games have lower house edges than others. The best way to estimate a house edge for your craps bets is to multiply the number of wins by the number of bets you’re placing, and you’ll get a better idea of what to expect.
Online Casinos & Bets: Some online casinos will assign odds to craps bets depending on the type of casino game being played. In some online casinos, for instance, the craps odds are in your favor if you’re betting against. If so, the casino will take this into account and will issue you a win, no matter how long it takes you to come out with your money. However, if you’re playing against a house, the house will take full advantage of that “looseness” and make sure that you don’t win. Thus, it’s important to watch out for this when betting online.
Where Should You Place Your Craps Odds? Keep in mind that you need to place your bets on casino property where you have a legitimate claim to be. If you’ve been gambling for many years and have a steady income, then you have some “cover.” For instance, if you have a regular and steady job, that could mean that you have a legitimate right to be able to claim a certain amount from your employer. If so, then you should place your craps odds on these types of online properties, since there’s a good chance you’ll win more there than you would elsewhere.