Question of the Day - 14 July 2017

[Editor's Note: It's doubtful we've ever run a QoD that created more follow-up answers than the one on the pass line, the basic bet at craps, on May 13, 2107. This is the sixth question that Andrew Uyal, our former crap dealer and current pit boss who wrote the original answer, has addressed on craps since then. Andy's comment about it: "Players love their craps!" Here's his answer to today's question.]

A couple things here. First, the 10% was just an easy round number to use as an example relative to what was being discussed. Still, it's not far off from the actual expected win on a dice game. Second, the "hold" is affected by the edge, but it's not the same thing (the quote referenced in your question has been amended). Specifically, the hold measures how much of the "drop" (the amount the players buy in for) is won by the casino.

Addressing the difference in the overall edge, you’re right about the advantage on the pass line being 1.41%. That’s without odds. Any amount of odds you take decreases the advantage from there. The difference between the house's edge over you if you play that way and the house's edge for a whole crap table (more like 11%-14%) is this: Lots of other players at the table play hardways, field bets, hop bets, and all kinds of other bets with a higher house advantage over players sitting on the pass line with odds. Some of those bets carry a house edge of more than 15% (see the original answer from 5/13/17 for more information on house advantages for specific bets). Add up all the bets made on a table and multiply times all the various house advantages and you'll wind up with a much higher expected win per bet on a crap game than just that 1.4% pass line advantage.

Most LVA readers know that their bankrolls will go a lot farther by sticking to the lowest-house-edge bets available at their favorite games. True action-junkie gamblers, on the other hand, even if they're aware of the high house edge working against them, don’t hesitate to make the take-a-flyer bets in hopes of hitting big. This goes for all games, not just craps -- choosing inferior options worsens results.

A related issue is dealer mistakes. A reader asked about this after the same question from 6/30/17, so I’d like to address it. The question was, “Wouldn't 3X, 4X, 5X odds reduce dealer errors even more, since all points pay the same?”

I can see why you might think that, but here's the thing. The points all pay the same, only at max odds, which not everyone takes. And for a dealer who's fresh out of school or new to dice, keeping track of what the point is, what everyone's betting, how much odds they're taking/laying, and how much odds they're allowed to take/lay is a tall order that invites mistakes. 

While it might seem easy for inveterate dealers and long-time crap players, a brand-new dealer looking around his side with a point of 9, and seeing flat bet/odds such as $5/$25, $10/$40, $15/$45, $5/$20, and $15/$75, might not realize that two of those bets are over the max. Speaking as someone who’s been in that position, it's an awful lot to keep track of. So, double odds definitely reduces dealer mistakes.