There are certain types of bets in online craps that must always be avoided and other types that offer lucrative returns. But there are also bets that are acceptable for certain dice totals and not for others. The Place bet belongs to this type. This article provides a detailed understanding of all possible dice totals of the Place bet.
Place bets are wagered on two dice totals of 4, 5, 6, 8, 9 or 10. The chips are located on the area just below the boxes displaying the Place bets. The Place bet can be laid before any roll of the dice. Players must keep in mind that the dice may have to be rolled several times before the bet is decided one way or another. A Place bet on a particular total wins if that total is rolled before a 7. It loses if a 7 is rolled before that total. The dice are continuously rolled till a 7 or the total bet on is rolled. Another important factor that players must keep in mind is Place bets on different totals offer different payouts and have different house edges. Based on this the six Place pets are classified into three groups for the purposes of discussion. In online craps a 4 can be rolled in three ways and so can a 10. Therefore these totals are in one group. Similarly 5 and 9 are in one group and 6 and 8 are in one group.
A total of 4 can be rolled in three ways – 1:3, 2:2 and 3:1. Similarly a total of 10 can be rolled in three ways, whereas a 7 can be rolled in six ways. Therefore the mathematically fair odds for the Place bet on 4 or 10 are 2 to 1. Mathematically fair odds are those in which neither the online casino nor the player can expect to make money in the long run. Online craps games pay 9 to 5 on this bet. Online casino games pay less than the mathematically fair payouts because they have to cover their cost. This advantage to the online casino is called the house edge. For Place bets on 4 or 10 the house edge is 6.67%. This means that in the long run for every $100 wagered on this bet the online casino will earn $6.67. Such a high house edge makes the Place bet on 4 or 10 unviable.
A similar analysis can be done for the other two Place bet groups. A 5 or 9 can be rolled in four ways, whereas a 7 can be rolled in six ways. The mathematically fair odds for a Place bet on 5 or 9 are 3 to 2. Online craps games offer a payout of 7 to 5. The house edge works out to 4.00%. Again, the Place bet on 5 and 9 should be avoided. A 6 or 8 can be rolled in five ways, whereas a 7 can be rolled in six ways. The mathematically fair odds for a Place bet on 6 or 8 are 6 to 5. Online craps games offer a payout of 7 to 6. The house edge works out to 1.52%. This is an attractive house edge and online craps players going for the Place bet should wager only on 6 or 8.