Free Odds Bet
There are many different bets that can be placed in a game of craps. One of the most popular bets, and one of the most advantageous to players is the free odds bet. The free odds bet is unique because it has no house edge, and with no advantage to the house, it’s a way for players to make money. But, there is a catch that this bet needs to be made in conjunction with another bet. Despite this, craps experts recommend you place this bet whenever possible. Here we’ll have a closer look at the bet and how it can be used in the game of craps.
How the Free Odds Bet is Used
The free odds bet is particularly attractive, but it must be placed together with the pass bet, don’t pass bet, come bet or don’t come bet. Interestingly, the free odds bet is generally not listed on the craps table, but it is available at almost every land-based and online casino. Once the point number has been established, players who have made a line bet will be eligible to place the free odds bet. The wager that is placed on the free odds bet can be in multiples of the initial wager amount used for the line bet. In most cases, casinos allow 1x, 2x or 3x, but some casinos allow significantly more – even up to 100x in some cases. In the case of online casinos, the size of the free odds bet is usually the same size as the line bet. The free odds bet is placed on the point number and the chips are placed below the pass line. The free odds bet is won if the shooter makes the point on the next roll.
Let’s have a look at some examples:
Let’s say you place $10 on the line bet and another $10 on the free odds bet. The line bet (pass/don’t pass and come/don’t come bets) are paid out 1:1.
- Landing on 4 or 10 – pays out 2 to 1. These numbers pay the most as they have the lowest probability of being landed on. You’ll be paid out $20 for the free odds bet, plus $20 for the line bet. You’ll receive a total payout of $40.
- Landing on 5 or 9 – pays out 3 to 2. You’ll be paid out $15 on the free odds bet, plus $20 on the line bet. You’ll win a total payout of $35.
- Landing on 6 or 8 – pays out 6 to 5. You’ll be paid out $12 on the free odds bet and $20 on the line bet. You’ll be paid out a total of $32.
Advantages and Disadvantages
The free odds, just like its name suggests, is a bet with no house edge. The bet effectively doubles the size of your bet without the house edge increasing. When used over time, it sways the odds in your favour so that you start to see an increase in your winnings. While the pass and come bets have a house edge as low as 1.41%, with the double free odds bet you can lower this down to 0.85%.
There is no real disadvantage to the free odds bet on its own. Any bet that has no house edge is advantageous. However, this bet cannot be placed alone. Placing it together with another bet that does have a house edge, reduces its advantage as it returns some of the house edge to the casino. The higher the bet multiple that you place, the lower you can push the house edge down. In other words, if you place 100 X odds bet, you can push the house edge down to as low as 0.02%. However, online casinos generally don’t allow you to multiply the bet. In this case, you can still lower the house edge, but only to as low as 0.85%.
Craps is a popular casino game which has a low house edge even if you’re playing with the regular bets. The free odds bet is an unusual betting opportunity. The house always has the edge – except in this case. The free odds bet allows you to lower the already low house edge even further. Craps experts recommend that players take advantage of this bet as it shifts the odds slightly in your favour so that you’ll win more over time.