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Let’s Play Craps How and Where to Play Craps in Las Vegas. Joel Johnson Ph.D.

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Presentation on theme: "Let’s Play Craps How and Where to Play Craps in Las Vegas. Joel Johnson Ph.D."— Presentation transcript:

1 Let’s Play Craps How and Where to Play Craps in Las Vegas. Joel Johnson Ph.D.

2 Why Play Craps????? 1)It’s Fun!!! 2)It’s Social. 3)It’s Fair.

3 Craps Layout

4 Pass Line Bet Assume you are given the dice to roll, now you are the Shooter. Initial bet of any amount up to table maximum on the first roll (Come Out Roll); a pass line bet pays even money or 1:1.

5 How to Win or Lose a Pass Line Bet

6 Odds on a Pass Line Bet 1)Often referred to as FREE ODDS (nothing is free) this is an OPTIONAL second bet placed after a shooter rolls a point. 2)The payout for the odds bet (not the pass line bet) is directly based on the odds of hitting a particular point. 3)Odds on a pass line bet is the BEST bet you can make in a casino.

7 What are the ODDS?

8 How Much Odds Can You Bet? Casino Odds LimitsHouse Advantage 0x1.41% 2x0.606% 3x0.471% 3-4-5x0.374% 5x0.326% 10x0.184% 100x0.021%

9 Don’t Pass Bet 1) Just think OPPOSITE of the Pass line. 2)Most people lose, means you win. 3)Watch out for the Come Out Roll, seven or eleven means you lose. 4)Lay more odds to win less. 5)Serious players only, who can take being the odd man/woman out.

10 House Advantage Casino Odds LimitsPass LineDon’t Pass 0x1.41%1.36% 2x0.606%0.455% 3x0.471%0.341% 3-4-5x0.374%0.273% 5x0.326%0.227% 10x0.184%0.124% 100x0.021%0.014%

11 Place Bets

12 How to Make a Place Bet 1)Place bets may be placed on the numbers 4, 5, 6, 8, 9, and 10 at any time. Place bets may be taken down at anytime. 2)Place bets win when the number placed is hit. Place bets lose when seven is rolled. 3)Place bets do NOT pay the true odds of hitting a particular number.

13 Place Bet Payouts

14 Craps Hedging 1)Don’t pass players only. Initial bet is on the don’t pass for the come out roll. 2)After the come out roll make certain place bets worth less than the initial don’t pass bet. Do not place the point. 3)Optimal strategy is to remove a place bet after the place bet is hit once (at most twice).

15 Criteria for Choosing a Place to Play 1)Play where there is the smallest minimum bet. Largest minimum you should play is 5 dollars. 2)Play where you can use the most odds. Smallest odds you should play is 3-4-5X odds. 3)Play where the dealers are accustomed to novice players.

16 Where Should You Play in Vegas? #1 Place to play by far is Casino Royale, 3 dollar minimum, 100X odds and most players there are novices. #2 Place is Main Street Station Downtown, 5 dollar minimum, 20X odds, friendly players. Do not play craps at the rich strip casinos such as Wynn and Venetian. Minimum bets are 25 dollars or more; and you could be ridiculed for not knowing how to play.

17 Now Go Play Some Craps!!!!

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