So, for a winning $18 Place bet on the 8, you win $21. The shooter rolls and a die flies off the table. Now, look at the Pass Line to see the Player Positions indicated along the bottom line of the Pass Line. I’m so stupid.” The babe looks at you rolling her eyes with an I-told-you-so look. In this example, what’s the minimum Place bet you can make on the 4? The table is on fire, so you decide to keep your Place bets working on the come-out roll. Most of the time, you need the dealer’s help to make a Place bet (i.e., generally, it’s not a self-service bet). Fractional odds can easily be translated to probability percentages. Absolutely correct! Smart players are the ones who walk away winners (ka-ching!). However, I played this for $5 ea so the payout is 2 1/2 times the amount shown. Instead of removing your chips, the dealer places an OFF button on top of them. The house edge for place 4 and place 10 is 6.67%, the house edge for place 5 and place 9 is 4.00% and the house edge for place 6 and place 8 is a very nice 1.57%. In today’s horse racing, the morning lines are rarely something to go by since they change so much as more bets are placed. What this tells us is that the Place bet on the 6 or 8 is one of the smartest bets on the craps table (i.e., by “smart,” I mean it has one of the lowest house advantages of all craps bets). And some believe that online betting … That was a lot to absorb all at once. In the United States, most bookmakers use the moneyline format to express the odds they offer for wagers. A new game is about to start. Each player’s chips are positioned in these rectangles according to their player position around the table. Answer the following three questions. NOTE: “Taking down” your Place bet is the same as “turning off” the bet. The true odds of rolling a five or nine are 3 to 2 but a winning place bet on these numbers pays $7 to $, so you must make your place bets in multiples of five dollars. A 2/1 fraction suggests that for every 2 failures, there’s one chance of success, giving you a 33% probability; 3/2 means a 40% chance, 2/3 works out to 60%, and 10/1 means a 9% chance, and so on. For instance, if you wager $100 on a horse with 20:1 odds … If the favorite runs out of the top two spots, the place payout will be larger, simply because the money bet on the favorite to place is now available to the holders of winning place … You proudly strut yourself to your favorite racetrack. The Miami Dolphins are favorites to win this Sundays game at -110 odds. Betting a Favorite: The odds for favorites will have a minus (-) sign, and represent the money you need to risk to win $100. A bettor will have his wagered money tied up until there is an outcome and bettors will receive fixed odds when they place the wager. Want a better shot at walking away a winner? A new shooter prepares to make a come-out roll for a new game. The button shows the boxman and the camera that your Place bet isn’t working for as long as the button is on top of your chips. Handicapping the Polls for the Presidency. Let’s do one more to see if you’re truly worthy of hanging with James Bond. So, be aware of when your bets will be paid. Pick up all your Pass Line chips and winnings. Pick up your winnings. Wow, that’s right! Player #4 has Place bets on the 5 and 10. To ensure the dealer knows exactly what I want, I always say, “Same bet, please.” Some dealers are sensitive (why, I don’t know) and respond, “Sir, if you just don’t say anything, I’ll know you want the same bet.” I usually politely reply with something like, “Most dealers aren’t as good as you, so I’m in the habit of saying same bet.” That way, I can continue saying, “Same bet, please,” and joke it off without irritating the dealer. If you want to try and beat the horse racing odds, join our online betting platform and view live video of races! American Odds are the default odds at American sportsbooks. Some dealers have specific spots where they prefer you to put your chips, depending on your position at the table. You tell the dealer, “My Place bets are off.” The dealer puts an OFF button on top of one of your Place bets to indicate they’re both off. At AmWager, we have our own horse racing handicapper that gives expert picks on upcoming races. The dealer first pays Joe’s Come bet, then Jill’s Come bet, and then Jack’s Come bet (in that order). The shooter rolls a 9. Here are some of the vocabulary you need to know: When it comes to horse racing odds, there are so many factors to consider that it’s no wonder some people find it confusing. Fractional: These are more traditional and widely used and are displayed as 4/1. Where you can place a bet if your political prowess is second-to-none. Notice how their chip is centered perfectly on top of the back line of the Pass Line. Here you will learn how to play craps, find the best craps strategy and also how to win at craps, Visit Club World Just before it’s your turn to be paid, you tell the dealer, “Same bet, please.” The dealer pays your winnings by placing $14 in chips in the apron directly in front of you. We didn’t mention Player #8. You can even make them before a new game has started but most dealers would rather you wait until after the come-out roll when the shooter has established a point. Your Place bet on the 6 wins again (remember, this bet is up to $12). 1. The dealer turns the puck OFF and puts it on the side of the table. While picking up all your chips, you shout, “Yeah, baby, I love these green chips!” The dealer turns the puck OFF and puts it on the side of the table. As noted, you can make, remove, increase, or decrease a Place bet at any time. Your payout is calculated by subtracting the amount of winning dollars from the total pool, then dividing the remaining pool by the amount of cash bet on the winner, and finally adding back in the winning bet amount. Your Place bet on the 6 is still up and working. “Winner, winner, chicken dinner!” You high-five everybody at that end of the table. The hardest thing about making Place bets is remembering the multiples that you need to bet for each pairing and the payout when you win (review our other article about basic craps math to learn about the “pairings”). You can make a Place bet on as many of the numbers that you want. Very good! Suppose you make an $18 Place bet on the 8. The 5, 6, 8, and 9 are considered inside numbers. The dealer pays you $5 for your Flat Pass Line bet and $40 for your Odds bet. The house edge on the 5 … The shooter rolled his point, so the game ends. Just before it’s your turn to be paid, you tell the dealer, “Same bet, please.” The dealer puts $7 in chips in the apron directly in front of you. You also drop $12 in chips in the Come box and tell the dealer, “Give me the six and eight, please.” The dealer takes your chips and puts $6 on the 6 and $6 on the 8. The dealer removes all your Place bets. To get the payout per dollar (or decimal odds) $85,000 / $42,500 = $2.00, Your $2 bet will pay back a total of $4.00. There are several types of pari-mutuel horse bets. 15. DO put your chips in the Come box and tell the dealer what you want, such as, “Place the eight, please.” Saying “please” is always a nice touch. Refer to the figure below for Player Positions and examples of their Place bets. Some bets have better horse racing odds than others. The payout. The table is packed and you stand shoulder-to-shoulder between two gorgeous women (or men). Suppose you make a Pass Line bet and the point is 6. Probabilities & Payouts of Called Bets Casino Max is for almost anyone from anywhere in the world! 19. Let’s see if you’re paying attention. When the table is hot, those two rectangles are covered with chips that look like a chaotic confusing mess, but it’s actually very organized. The shooter rolls a 4. Yet at Amwager, we post probable payouts for exacta and daily double wagers. These are displayed in the format of 5.00, unlike fractional odds, your stake is already factored in. The shooter rolls a 5 and everyone jumps for joy. The 6 is getting hot! Since everyone roots for a 7 to show on the come-out for Pass Line bets, the casino automatically turns off all the Place bets for the come-out roll. Since you kept your Place bets on and working on the come-out, they all lose because a 7 showed. Instead, make them while the stickman controls the dice in the middle of the table. Since $15 is the table minimum, and since $15 is multiple of $5, the minimum Place bet on the 4 is $15 in this example. Your wife is nagging you to go to the lounge for drinks and dancing, so you decide to blow it on a Place 4 bet. You may want to go back and review it several times to get a good feel for how the action goes. I tried to provide a screenshot of different place bets … Therefore, in this case, “$16 inside,” means you want Place bets for $5 on the 5, $6 on the 8, and $5 on the 9. If they creep all the way inside into the Pass Line area, then the crew might think they’re a Flat Pass line bet. You know the odds and place your bets with confidence. Suppose you walk up to a table in the middle of a game and drop some chips in the Come box and say, “Thirty-two across, please.” What does “$32 across” mean? This is why every racetrack has television simulcast commentator who handicaps between the races as well as publishing handicapping tip sheets to help you place … As the dealer pays bets in front of you and it’s almost your turn to be paid, lean a little into the dealer and tell him what you want to do, such as, “Same bet,” or “Press it,” or “Take my five down.” That way, the dealer can execute the payoffs quickly and under control. When “turning off” a Place bet, you turn it off (i.e., make it not working) temporarily with the intent to turn it back on after one or more rolls. You then drop some chips in the Come box and tell the dealer, “Sixteen dollars inside, please.” What bets are you telling the dealer you want to make? Therefore, the bet multiple for the 4 and 10 Place bets … You feel lucky, so you take a whopping $20 in Odds on the point behind the line. The answer is $15. Here is a quick reference chart that explains your chances of winning the types of bets mentioned earlier and the expected payout. If you wanted to place a $10 wager on the USA at 2.40 you would simply need to multiply your $10 wager by the 2.40 odds (10 x 2.40) to find out that the payout is $24. One of the surest ways people lose money on horse racing is not knowing how to bet or understanding the odds. Pick up the $1. Once the house takes its cut, typically 15%, the rest is divided between the bet winners. The method for paying off winning bets may appear at first to be entirely random, but it’s not. The first number tells you how much you could win, the second number is the amount you bet. So that's what happens when you bet on favorites using American odds. If we look at each point box, we find that the 9 and 10 are the only numbers that have chips in the bottom rectangle all the way to the left. The shooter rolls a 9. By … Very good! He counts out your $7 in winnings, and then puts $6 of it on your original Place bet on the 6, and he puts the remaining $1 in the apron directly in front of you. One sure way you will be tagged as an amateur is if you do not know and use horse racing odds jargon. Things are getting a bit more interesting, so you pay more attention to the game and less attention to the babe next to you in her halter top rubbing against you shoulder-to-shoulder. To calculate prices … In the figure, we see that the point is 4 because of the white “ON” puck. For example, you can see from the table above if you Place bet the 6 for $30 and win, your payoff is $35 compared to the true-odds payoff of $36, which makes the house advantage only 1.52%. If you didn’t get question #1 correct, then put your beer down and pay better attention. 11. Superfecta: Pick the order of the first four finishers in one race. Since the win bet payout table is just for win bets, estimating the place payout is a bit tougher. Pick up your winnings. After your Place bet wins, you can choose to take it down (i.e., remove it) or leave it up (i.e., working) and hope to hit your Place number again before a 7 shows. Now, you have five numbers working for you: Place bets on the 4, 5, 6, and 8; and the Pass Line with Odds bets on the point of 9. After a point is established, the only numbers that matter for Pass Line bets are 7 and the point number. Player #8 has a Place bet on the 4, which is the point. Most of the time when someone Place bets the point, it’s when they walk up to the table in the middle of a game and, instead of making Put bet on the Pass Line, they Place the point by positioning their chips centered on top of the back line of the Pass Line. 17. We see from the table above that the Place odds for the 5 and 9 aren’t quite good as those for the 6 and 8. How much do you win? I know, I know, you don’t want to have to think. The hot babe next to you says, “Sure you want to do that? We’re rooting for a seven on the come-out, so if you keep your Place bets working and a seven shows, you’ll lose all your Place bets.” You think, “Shut up and play your own game,” but you politely say, “The table is getting hot, so I’m going for it.”. Therefore, the bet multiple for the 4 and 10 Place bets is $5. Sure, placing a bet is easy enough but that is why most race goers walk out with less money than they came in with. Therefore, divide your $18 bet by 6 = 3, and then multiply the 3 by $7 = $21. The probability of this bet winning is 13.16%, and the payout – 6:1. The shooter rolls a 7. You place a successful $110 bet on them, which means you receive $100 winnings and your original bet of $110 back as well! If you or someone you know has a gambling problem and wants help, call 1-800 GAMBLER. As noted above, you can make or take down Place bets any time you want. Let’s see if you’ve been paying attention. Note that these payout odds … 4. The bet multiple for the 4 and 10 is $5, and I said that the table minimum is $15. This gives you a better idea of how small the house advantage is for these bets. Some craps casinos will vary the start point between the stickman and boxman for certain bets. The only time you can make a Place bet by yourself without the dealer’s help is when you Place the point, which is uncommon because most people have the point number covered with a Pass Line bet. You’re excited because you got one of those pretty green $25 chips as part of your winnings. With horse racing you are betting against other betters. “Winner, winner, steak dinner!” You high-five everybody at that end of the table and the girl in the halter top gives you a big hug. You make a $5 Flat Pass Line bet. The bet multiple depends on the Place odds. Either at the track on the tote board or on your online sportsbook, the odds will change depending on how many people are betting on each horse in the race up until post time. Key Takeaways The three types of odds are fractional, decimal, … Player #1 has Place bets on the 9 and 10. Let’s do one more example of how to calculate your winnings. Odds are simply the way prices and payouts are shown at a horse track. Your total payout is $210. As such, a race with 1/1 odds would signify that for every failure, there would be one success, giving you a 50% probability. The shooter rolls a 4 on the come-out; therefore, the point for this game is 4. It wasn’t a 7. For example, suppose the table minimum is $15 (i.e., it’s a lofty $15 because you’re on the Vegas Strip where’s it’s hard to find a cheaper table nowadays). The dealer pays you $5 for your Flat Pass Line bet and $45 for your Odds bet. The shooter rolls a 10; therefore, the point for this game is 10. Therefore, once you make a Place bet, the only numbers that mean anything in terms of winning or losing are the number you bet on and the 7. This rounding is called breakage. Your Place bet on the 6 wins. Notice in the figure below that each point number has four boxes associated with it, which are three smaller rectangles and one bigger square with a number in it. The game ends immediately. This scenario assumes you’ve learned the material in our other article about Pass Line bets. The minimum standard bet for horse racing is $2. Let’s look at the pairing 4 and 10, which has Place odds of 9:5. This is a simple betting option that can be broken down into three components: Win, Place and Show. Refer to the figure below and see that Player Position #8 has a $5 Place bet on the point, which we know is 4 because of the white ON puck. However, you can keep your Place bet on at any time, even on the come-out roll. 2. As soon as the come-out roll is made, the casino then automatically turns on all Place bets so they’re all working again. 7. Think you’re ready to hang with James Bond? A new game is about to start. Y You can make a Place bet on any of the point numbers, which are the 4, 5, 6, 8, 9, and 10. Superfecta Key: Pick four finishers, choose one to win and the other three finish in any order. 3. The players have the following Place bets in those rectangles (notice that the chips in those rectangles are carefully positioned to correspond with the Player Positions). So, on the come-out, everyone is rooting for a 7 to show so they can win their Flat Pass Line bets. (Remember, you can remove your Odds bet at any time, but can’t remove your Flat Pass Line bet.). Use this approach when you no longer want action on a particular number for the rest of the game. Except for self-service bets, never put chips on the table without the dealer knowing they’re yours. Simply put $15 in the Come box and say, “Fifteen dollars outside, please.” The dealer knows that you want $5 each on the 4, 9, and 10. Pick up your $5 in winnings. 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