Online Craps Place Bets
Published on: November 2, 2011
Place Bets are bets that can be placed on totals of 4, 5, 6, 8, 9 or 10. The online craps layout has these numbers prominently displayed in boxes. The Place Bet on any of these numbers is laid by clicking the area just below the boxes. The Buy Bet is placed by clicking an adjoining area. Hence the online craps player must take care to ensure that he is making the Place Bet. In online casino games a text message indicating the name of the bet appears as the cursor is moved over the betting area. The player should check that the text reads Place before clicking to locate the counters.
A Place Bet can be laid before any roll. It can be laid even before the first roll of the session, called the come out roll. A Place Bet on a particular number will win if that number is rolled before a 7. A Place Bet on a particular number will lose if a 7 is rolled before that number. In all other cases the Place Bet will be carried forward. If an online craps player makes a Place Bet on 6, then the bet will stand until a 6 or a 7 is rolled.
A player can make a Place Bet on more than one number. In fact he can make the Place Bet on all six eligible numbers. Say an online craps player lays Place Bets on 4, 6 and 9. If a 7 is rolled on the first throw then all Place Bets will lose. If a 6 is rolled on the first throw then the Place Bet on 6 will win and the other two Place Bets will be carried forward.
Though all Place Bets work the same way, they are different in terms of payouts and house edges. Therefore a complete understanding of Place Bets is required. In online craps a 4 and a 10 have the same probability of being rolled, therefore these totals are grouped together for analyzing Place Bets. For the same reason 5 and 9 are grouped together and 6 and 8 are grouped together.
The mathematical or correct odds for the Place Bet on 4 or 10 winning are 2 to 1. Most online craps games offer a payout of 9 to 5 for this bet. In online casino games the offered payout is usually less than the correct payout because the casino needs a cushion to cover its cost. For the Place Bet on 4 or 10 the cushion or house edge works out to 6.67%. In simple terms this means that in the long run for every $100 wagered on this bet the online casino will collect $6.67. This is a huge house edge. European Roulette offers a house edge of about 2.7% on payouts of even 35 to 1. Therefore the Place Bet on 4 or 10 is not worthwhile.
The position is very similar for the Place Bet on 5 or 9. The correct odds are 3 to 2. Most online craps games offer a payout of 7 to 5. This leads to a house edge of 4.00%, which is still on the higher side. For the Place Bet on 6 or 8 the correct odds are 6 to 5. Most online craps games offer a payout of 7 to 6. This leads to a house edge of 1.52%, which is attractive and worth wagering on.
Online craps is offered by software providers like Microgaming, Playtech and Realtime Gaming.
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