In this post, we will focus on the craps place bet, which is one of the most common bets on the craps table. Craps is a popular dice game at casinos, and there are many different types of bets that can be placed.
We will cover how the place bet works, whether it is a good bet to place, the odds of winning, and other important information about place bets.
How the place Bet works
A place bet in craps can be made at any time during the game, but is most often made after a point is established. A place bet can be made on the 4, 5, 6, 8, 9, or 10. The bet is made by placing your chips on the layout and simply telling the dealer which number you’d like.
For example, “Ten dollars on the 5”. Place bets need to be at least the value of the table minimum, and cannot exceed the table maximum. Bets are made in increments of $5 for the 4, 5, 9, and 10, they are made in increments of $6 for the 6 and 8.
Your bet wins if your number is rolled, all bets are lost with a 7.
When a point is established on a come out roll, your place bets are automatically working, or “On”. When a shooter is between points and the puck is “off”, your place bets are also “off” by default. You always have the option to work your bets, or turn them off, however. Simply let the dealer know what you want and they will put an “on” or “off” token on your bets accordingly.
If you have a pass line bet and the point established is a number you already have a place bet on, the dealer will usually look to move your bet. This is because you already have that number covered with the pass line bet.
You can either pull the money down, place it on another number, or simply leave it there. Leaving it there is not the best idea however, you’d be better off making it your odds bet on the pass line as it will pay more.
Odds of Winning a place Bet
The chance of winning a place bet is as follows:
48.48% on the 6 or 8
46% on the 5 or 9
43.3% on the 4 or 10
Place bet payouts in the craps game are as follows
4 or 10 pays 9:5 ($5 bet pays $9)
5 or 9 pays 7:5 ($5 bet pays $7)
6 or 8 pays 7:6 ($6 bet pays $7)
Related – Advanced Craps Betting Strategy
Payouts are determined by local gaming commission regulations, most states follow the same payouts as listed above, but these could vary from one jurisdiction to another. The above are from NV.
House Edge on place Bets
The house edge on place bets is between 1.52% – 6.67%, depending on which numbers you place with your craps bet. This means that, on average, the casino will make a profit of 1.52% – 6.67% on place bets.
Here is the breakdown of house edge
1.52% on 6 or 8
4% on 5 or 9
6.67% on 4 or 10
Craps place Bets FAQs:
The place bet is one of the most common craps bets. Getting used to the amount you bet, and the corresponding payouts is critical. It is also important to understand the overall cost if you plan to bet multiple numbers.
For example, if I bet $44 inside. This means I am making place bets on the 5, 6, 8, and 9 for $10, $12, $12, and $10 respectively.
Good luck on the tables!