Craps is a relatively easy game to learn. Most of the rules are fairly simple to learn and understand. However, to start playing and succeeding you must learn some decorum. Handicapping is the practice of applying situational handicapping to help improve the chance of winning. Sometimes taking the point spread betting (reviewing the betting before making a bet) and sometimes picking the winner. Craps is used in most major casinos throughout the world. Some people refer to it as blackjack, another name for gambling in its most basic form. Blackjack is mathematically one of the more difficult games to learn, yet is a fun game. The addition of the house, the edge, and the odds are what makes gambling casinos, from deluxe plastic cards to the clay casino chips, so appealing to the player. Perhaps the only thing you really need to know how to play craps is how to bet.
Craps bet can take many forms. The two most common are the Pass Line bet and the Don’t Pass bet. These are the familiar betting options that anyone who has played craps in a casino will be familiar with. The Pass Line bet is your basic craps bet. You are betting that the shooter will roll the dice the required number of times to win. The Don’t Pass bet is like aPass Line bet, but you are betting that the shooter is going to roll a number other than the Pass Line. Either will work, but you will have to pay the vig. A new player to craps may not be sure he is betting the right thing if s/he throws a seven every time. The shooter is at worst a slight favorite or slightly negative expectation when s/he rolls a seven.
If you think you can beat the bank by betting the right way, you are gravely mistaken. If you beat the bank a few times and the casino offers a bonus, walk away. Why would you even continue to play? The odds are that the casino is going to win over time, and the casino is probably not going to give a bonus back. Your best bet is to bet the Don’t Pass and let the shooter roll, hopefully, until a seven rolls. Then you can either take the winnings of your pass line bet or walk away with the vig. If you bet the Don’t Pass and a seven rolls, you may have walked away with a few dollars extra.
You must keep in mind, however, that although you may win at this strategy, the seven is not “due” for a seven roll. The seven is an independent event. The dice are not influenced by the preceding roll or the previous roll. The buck is not influenced by previous rolls of the dice. The dice are not in “ustain” or “fairness.” They are not in accord with the expectations of the players.
If you believe in the gamblers’ fallacy (and as far as I know all of you do since you’re reading this article), you may be able to deduce (and make) your own odds. You might say something like, if five guests are coming for a particular roll, there are fifty chances each of the six will roll before a seven arrives. Or, if three guests are coming, there are thirty chances each of the three will roll before a seven arrives.
Applying the Rule
Let’s see how the Rule applies to specific types of bets. Since the rule is about probability, we know that the Frequently Asked Question (FAQ) hamstring here is, “How to I know when to bet the house on the 4 and 10?” Great question, but we’ll break it down a little. Say your desired outcome is the 4 and 10. The house has a 2.5% house advantage on the 4 and 10.
So, you have a probability of say, 32%. Now, there are no sevens allowed in the 7meter. So, you’re only betting against yourself. Your odds are only 2-to-1. In other words, if you bet $1, you are risking $1 of your money, so your expected gain is $1. If no seven is thrown, your odds are 4-to-1.
See what we mean? The house does have an advantage, but not a guarantee for your loss. Ask yourself this: Is it profitable to double down when you only have 2 chances to do so, or would you rather win $4 when there is only one chance to earn $1? The decision is clear.
Holistic play, or translated into football terms, is making bets on a wide variety of factors and scenarios, not necessarily on the outcome of the next play. I like to call itulate play. For example, you can bet the accumulator. This means you’re betting on two or more outcomes.