Are place bets any good? To truly determine whether they are any good or not, we need to first clarify what place bets are.
Place bets are wagers in craps on any of the point numbers. The point numbers are 4; 5; 6; 8; 9 and 10. For a place bet to win, it needs to be rolled before a 7. If it is rolled after 7, the bet loses.
This makes that bet one of the simplest bets because only one number influences the outcome of the bet. Therefore, if you are new to craps you may want to get familiar with place bets and know what their odds are. A bet’s odds are a good way to gauge what the risk associated with the bet is.
What Do Place Bets Pay in Craps?
You can make a place bet on one or all of the point numbers. You can only choose this bet after the point has been established. Understanding the payouts of these bets is important in how you form your strategy.
Because the place bets do not pay out true odds, some may be of the notion that these are not good bets as they may not have as high a payout. But it must be noted that a lot of craps bets do not pay true odds.
Regardless of the fact that these bets don’t pay in true odds, they can still give you consistent wins over a period.
Let’s look at what each of these place bets payout:
- 4 and 10 pay 9:5
- 5 and 9 pay 7:5
- 6 and 8 pay 7:6
Because the 6 and 8 pay 7:6 the bets are made in increments of $6. On the other hand, the other bets that pay 9:5 and 7:5 respectively, are made in increments of $5.
Place Bet Craps Strategy
Place bets are best for beginners because they have good odds and decent payouts. The house edge on the different place bets varies.
The edge on the six and eight bets is the lowest at 1.52%. While the edge on 5 and 9 and the 4 and 10 bets are higher ranging from 4% to 6.67%. Even with such a high house edge, these bets have a good probability of occurring which, in turn, mitigates the risk of the high edge.
Place bets are also a good way of managing your bankroll because you can make a bet on any two numbers with a single wager. For instance, you could wager on 6 and 8 with a single $6 bet and if both numbers are rolled out, you’ll get two payouts. If only one is rolled out, you’ll get a single payout.
In conclusion, place bets are a good start for players looking to venture away from the elementary pass and don’t pass bets.