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In Colorado, I saw on the crap layout a Bet Em All bet. Shooter has to hit all the numbers and pays 175-to-1. My question is what are the true odds?
[Editor's Note: This information comes from Michael Shackleford, author of our Gambling 102 Second Edition, which is on sale currently for $12.71, 25% off retail.]
Bet Em All is a side bet in Bonus Craps, which is popular around the country, including here in Las Vegas.
The bet is made on the come-out roll and the shooter must roll all the numbers, except a 7, before he or she sevens out. In other words, the bet wins if the shooter rolls every total from 2 to 12, except 7, before rolling a total of 7. A winner is usually paid 150-1 (the common payout in Vegas), so your 175-1 is already a little ahead of the game.
The house edge at the 150-1 payout is a mighty 20.61%. At 175, it's "only" 7.46%.
The true odds on Bet Em All would be a winning payout of 189-1.
Bet Em All is one of three side bets at Bonus Craps. To go with the All are a Small and a Tall; you can see Michael Shackleford's description/analysis that's on the ball of the whole haul at WizardofOdds.com.