What are your chances of winning craps?

Answer 1

You will probably not like this answer but it is simple. The odds in craps, and other casino games, are set in favor of the casino. Simply put, that means the longer you play, the more certain it is you will lose. If it were otherwise, the casino industry would not be making the phenomenal sums of money it makes each year. But, since you asked, the bets in craps having the smallest casino advantage are the "Pass Line, Come, Don't Pass, and Don't Come" bets. The house advantage on these bets is 1.41%. This advantage can be reduced further by making a "behind the line" wager. If you make a "behind the line" wager and you win, then you get paid "true odds" on the amount you bet "behind the line" and "house odds" for your original wager. Even though 1.41% may sound small, remember the casino is constantly grinding that percent of your money away from you, over and over again, as you remain at the craps table. Contrary to common belief, casinos do not make their money from losing bets, they make it from winning bets. Their money comes from the fact that, instead of paying true odds on a winning bet, they pay less than true odds. For example, in craps the true odds on the "any seven" bet are 5 to 1 but casinos only pay 4 to 1 on this bet. The difference between the two is how they make their money.