The reason I encourage craps players to bet on the odds is that it is the cheapest bet on the table and is truly a craps bet. I should point out that taking or laying the odds in craps does not help the player to win more, only to bet more at no additional expense. You are of course quoting me from my March 24 column. I shall add something to my craps section about the put bets, thanks for the idea. At 10 times odds or greater, all put bets become better than their corresponding place or buy bets.
At 5 times odds exactly, the put bet on the 6 and 8 is slightly better than the place bet. This option should never be taken at a casino that offers less than 5 times odds. 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. 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%.
The effect is the same as making a place bet or buying odds, but the house edge is different depending on the multiple of odds allowed. While the player can make an odds bet immediately on top of the put bet, the opportunity to win on the initial roll is lost.
The player may choose the point to be established on the put bet. For other readers, let me explain that a put bet is making a pass or come bet after a point has already been established.
