House Edge and Probability
The house edge in craps varies significantly depending on the type of bet placed. The pass line and don't pass bets have relatively low house edges of approximately 1.4%, making them among the most favorable bets in casino gaming. This low edge exists because the odds are mathematically fair for both the casino and the player across multiple rolls.
Pass line bets win immediately on a 7 or 11 (natural) and lose immediately on a 2, 3, or 12 (craps). If any other number is rolled (4, 5, 6, 8, 9, or 10), that number becomes the point, and the player wins if the point is rolled again before a 7.
Probability and Betting Strategy
Calculating probabilities for specific outcomes requires understanding conditional probability. For example, once a point number like 6 is established, the probability of rolling a 6 before a 7 is 5 to 6, meaning the odds slightly favor rolling a 7. This mathematical reality influences optimal betting strategies.
Taking or laying odds bets are considered mathematically fair bets with zero house edge, as they pay out at true odds. A 4 or 10 has true odds of 2 to 1, a 5 or 9 has true odds of 3 to 2, and a 6 or 8 has true odds of 6 to 5. Understanding these ratios is essential for maximizing expected value.