Suppose you agree to take 9 1/11% the worst of it on every bet you make in a private Craps game. This is the same as agreeing to accept $1 every time you win and to payout $1.20 every time you lose. Anyone who bets in such a foolish manner often enough is a rank sucker, deserves exactly what he gets, and goes broke. These are the sort of sucker odds that the Craps hustlers offer and most players accept. Sometimes the chumps accept odds that are even worse. Here is another example of odds cheating in Private Craps. When a player accepts an even-money bet that the shooter will make his point when it is either a SIX or an EIGHT, he is cheating himself just as surely as if he were playing against six-ace flats (crooked dice). The proper odds against making SIX or EIGHT are 6 to 5, and yet most Craps shooters are perfectly content to accept even money on such a bet.. They accept $1 for $1 instead of demanding the correct payoff price of $1.20 to their $1. Craps shooters who are unfamiliar with the correct odds accept almost any odds offered because it would embarrass them if they admitted out loud that they didn't know the correct odds. The man who claimed that ignorance is bliss was no gambler. In gambling, ignorance is fatal.
Craps Casino Gambling
The payoff odds used in 999 out of every 1,000 Private Craps games are actually the gambling house payoff odds casinos use at Bank Craps when paying off right bettors; the payoff odds in Private Craps are permanently fixed against the guy who is either shooting or betting the dice to win. This is why all right bettors die broke."
Players accept winning payoffs at less than the correct odds in a casino because this is the price charged for the use of the casino and its facilities, but any player who accepts such odds from a Craps hustler in a friendly game, which may even take place in his own home, is making a fool of himself. Any Craps player who studies the following text and then still accepts sucker bets in Private Crap’s games needs the services of a good psychiatrist. Here you will find everything there is to know about Craps odds.
Craps Players
Most Craps players think that the shooter and fader have the same chance of winning and that the correct odds on a center or Hat bet are 1 to 1, 50-50 or even money. In casino gambling, one thing you should never do is to take something for granted. Let's analyze this bet and find out the correct odds. We first find out how many of the throws made by the shooter will, in the long run, win, and how many will lose. If there is an equal number of each, it's an even-money bet. And if not well, let's see.
If we calculate how many rolls out of the 36 possible combinations will win and how many will lose, we will complicate matters with fractions. We can avoid fractions by multiplying 36 rolls X 55 to get a lowest common multiple: 1,980 rolls. Suppose that Joe Doe, a right bettor, throws the ivories 1,980 times; suppose he considers that each roll of the dice is a new come-out and that it results in a decision; and suppose that each of the 11 numbers is thrown exactly as often as probability predicts it will appear in the long run.
Since SEVEN (natural) can be made in 6 ways out of the total 36, it will be thrown 6/36 of the 1,980 rolls, and Joe will win 330 times. EI$VEN (natural) can be made in 2 ways out of 36 and will be thrown 2/36 of the 1,980 rolls, winning 110 times.
Suppose you agree to take 9 1/11% the worst of it on every bet you make in a private Craps game. This is the same as agreeing to accept $1 every time you win and to payout $1.20 every time you lose. Anyone who bets in such a foolish manner often enough is a rank sucker, deserves exactly what he gets, and goes broke. These are the sort of sucker odds that the Craps hustlers offer and most players accept. Sometimes the chumps accept odds that are even worse. Here is another example of odds cheating in Private Craps. When a player accepts an even-