They are the most basic of craps bets — the pass line with odds (or the don’t pass with odds).
While placing the 6 or 8 carries only a 1.52 percent house edge, the pass line with no odds carries only a 1.42 percent house edge. The don’t pass with no odds has a 1.40 percent house edge. For every $10 bet on the pass or don’t pass, the player will lose on average only about 14 cents — much better than the approximately $1.40 lost on average to the hop bet on the 2 or 12.
But the real beauty of the pass line or don’t pass bets is the availability of the odds bet. There is no house edge on the odds portion of a pass or don’t pass bet. The player is paid at true odds — 6-to-5 for a 6 or 8, 3-to-2 for a 5 or 9, and 2-to-1 for a 4 or 10.
Let’s look at an example of a $30 bet placed on the 6 and a $30 bet with $5 bet on the pass line that ultimately has a point of 6 with $25 then added as odds. The house edge of a place bet on the 6 or 8 is 1.52 percent or a loss of about 15 cents for every $10 bet. The house edge on the pass line bet with five times odds is 0.33 percent. This means the player will lose just over three cents for every $10 bet.
Now some specifics. The winning place bet is paid 7-to-6 for the $30 for a total of $35 — a profit of five dollars.
The base portion of the pass line bet is paid $5. The odds portion is paid at true odds of 6-to-5 for a total of $30 for the odds bet. The total win is $35 — the same as the place bet.
Why is the pass line with odds a better bet? In the above example, the profit is identical.
A pass line bet with odds made after the point is set, is called a put bet. Before the point is made — during the come-out cycle — there are eight ways for a player to win (six ways to make a 7 and two ways to make an 11) and only four ways to lose (one way to make a 2, two ways to make a 3, and 1 way to make a 12). There is a 2-to-1 advantage for the player that is not present with the place bet — or the put bet.
Also, the odds portion of the pass line bet has no house edge, so only the $5 bet on the line is subject to a house edge. The math of the entire cycle works out to a house edge of only 0.33 percent. This is why I consider the pass/don’t pass two of the absolute best bets in craps.
In case you were wondering about what bet has a house edge of over 70 percent, it is a put bet on the 2 or 12 with no odds. This bet is only available on crapless craps tables where any number other than the 7 can become a point.
While the pass line bet with odds may not be exciting, it has the lowest possible edge on the craps table. It gives craps players the best chance of winning. If not winning, it will allow the player to play the longest. That is what is exciting to savvy players.