Casinos offer a wide variety of games and bets, regardless of whether we’re talking about a real, bricks and mortar building or an online casino, such as Bet365. All of the games found on the casino floor will have the odds stacked against the player, but some bets will be less damaging to your bankroll than others. In this series, we take a look at the five casino bets with the lowest house edge.
#1: Craps – The Pass Line Bet With Double Odds (0.60%)
Craps can be intimidating to new casino players, due to the complicated rules and numerous wagering possibilities – in fact, it is so complicated that four members of casino staff are needed to properly run the table. Despite this, the basics of craps are relatively easy to understand.
The most basic craps bet is the “pass line” bet. This wager has two distinct phases: before and after the establishment of a “point”. Before a point is determined, the player wins even money (house edge of 1.24%) when the dice shooter throws 7 or 11. The player loses if a 2, 3, or 12 is thrown, meaning the wager is lost. If the shooter throws a 4, 5, 6, 8, 9 or 10, this becomes the “point” and the game of craps continues into the next phase.
After a point has been established, the player may place an additional wager known as a “pass line odds bet.” To place this bet, simply place the required number of chips behind the pass line bet that was placed earlier. This is one of the few casino bets with a house edge of zero and as such, craps players should take advantage at every opportunity, especially where the casino allows you to place an odds bet of two times your original bet (double odds).
The dice are now rolled until the point number appears once more, or until the shooter rolls a 7. If the latter occurs then the player will lose both of his or her wagers, but if the point number appears first, the player will win on both wagers.
When the two craps bets are combined, the original house edge on pass line bet – 1.24% – is greatly reduced and is as low as 0.60% in the case of double odds (0.80% single odds).
There are plenty of other bets at the craps table and indeed anywhere in the casino, but none offering such a low house edge.