Difference between buy and place bets craps
Jul 31, · Another newbie question for you guys. I understand the difference between placing and buying bets. However, I am confused as to why both of these bets . The buy bet is similar to the place bet; the difference between the two bets is that the buy bets pay off at true odds. True odds are the ratio of the number of times a number will appear vs. the times it likely will not appear. This page explains what a lay bet and a buy bet is in the game of craps. Learn about the odds and payouts as well as using these bets correctly.
Buy vs. Place Bets
Refer to the figure below for where Buy bets are positioned on the layout. Which numbers at craps are better to Buy than Place? However, for a tiny 5 percent commission which is mandatory if you decide to make a buy bet, the casino payoff will be at true odds. The Place odds are 7: As a result, the better option is that which gives the house less in edge. True odds are the ratio of the number of times a number will appear vs.
Lay Bet and Buy Bet in Craps
Craps Bets Buy Bet: Everything about the Buy bet is the same as the Place bet except that it pays true odds and you have to pay a price to get those true odds and your chips go in a different position on the table layout. Technically, if you want to nitpick, that statement is incorrect. The Buy bet also pays off at true odds i.
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As the title of this article suggests, the Buy bet can be good or bad, in terms of the house advantage, depending on the number you bet on. Buy bets are better on the 4 and 10 1. Buy bets can also be better or worse than Place bets depending on the number you bet and the bet amount.
Buy bets on the 4 and 10 are better than Place bets on those numbers. We know from our other article that the Place odds for the 10 are 9: We know the true odds for the 4 and 10 are 2: The Buy improves as you increase the bet amount. The Place odds for the 4 and 10 are 9: Fractions of 50 cents or less are rounded down, while fractions of greater than 50 cents are rounded up.
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Which numbers at craps are better to Buy than Place? They win if the dice show the selected values and lose on sevens. The makes odds against winning 6-to-3 2-to-1 on fours or 10s, 6-to-4 3-to-2 on fives or nines, and 6-to-5 on sixes or eights. The bets have two modes: Buy bets pay the precise inverse to the odds of winning -- with a catch.
The house charges a "vigorish" or "vig," nominally 5 percent of the wager. The fee is usually levied up front and the house keeps it, win or lose. Effectively, solid citizens put up the bet plus the vig to net the payoff on the bet minus the vig. Owing to standard craps practice that bets and payoffs are in whole dollars, casinos round the vig downward by dropping the cents.
The "whole dollar" rule also governs the increments in which bets can be made. Fours and 10s pay 2-to-1; so any whole-dollar amount is allowed since 2-to-1 payoffs will also be in whole dollars. Fives and nines pay 3-to-2; therefore, only bets in even dollar amounts can be paid in whole dollars, so this constraint is in force. The chance of winning is the same.
As a result, the better option is that which gives the house less in edge. Picture this in terms of 36 statistically-correct rolls of the dice. At this level, the Buy is superior. When the vig is paid up front, Buy bets always give the house less edge on fours and 10s than similar Place bets.
On sixes and eights, Place bets always yield less edge. On fives and nines, some bet sizes do better Buying and others Placing.
Advantages of Being a Craps Dealer Medical Leave and Holidays In the event that you get sick or need medical attention, most casinos offer days off until you are able to work again. Just like any job, however, you must provide documentation to prove that you are sick. In addition, many casinos offer time off for the holidays. If you are a Craps dealer at a casino that remains open during most holidays, you might also expect to receive extra pay per hour if you are required to work.
Tips from Customers Most good Craps dealers make a great deal of money on tips from their customers.
This is one of the main perks of being a Craps dealer. The game of Craps tends to attract high rollers. Because of this, you can often expect large tips just for doing your job well. Flexible working hours You may get to decide how many hours you will work and be paid accordingly.
There are no hard and fast rules unless you work on strict contracts. Free Meals Most casinos will provide you with a free meal at least once a day.
In addition, you may also find that you are allowed to enjoy free non-alcoholic drinks throughout the day. Free job training Most casinos will be willing to sponsor your training at a Craps dealer school if they find you perfect for the job.