Contributing expert Michael Shackleford writes:
That's good advice. There are only two bets in the casino which feature no house edge: the odds bet in craps and the double-up feature on some video poker games. Once a point has been established in craps, the odds bet is an additional wager that the point will be thrown before the 7. The bet pays fair odds according to the probability of winning: 6-5 on points of 6 and 8, 3-2 on points of 5 and 9, and 2-1 on points of 4 and 10. Although the odds are sometimes called "free," the player must still make a negative-expectation bet first. Hence they are only "free" in the same way an off-Strip show ticket is free using a 2-for-1 coupon.
Las Vegas Advisor Note: The Imperial Palace has recently installed a game called Dragon Dice with adjusted odds on the hardways and the any-7 bet that make these bets no-vig wagers. That is, there is no house edge on these bets and no prerequisite that you make another wager with a house edge.
Michael is author of Gambling 102 - the Best Strategies for All Casino Games.
