Craps Tips: Odds and Edges
In each and every gambling opportunity there exists a built in mathematical edge that favors the one who banks that game or event. This edge affects every player that places their money at risk and it works against all players and their bankrolls.
There are different ways that these bankers of gambling games install the edges. Some are obvious, like a 5% commission that a sports book charges to make a bet and others are more difficult for the gambler to easily understand.
Some of the ways that these edges are implemented are;
Pari-mutuel wagers or pot raking, where the bank takes a percentage of all wagers that are made.
Games that are wagered against a bank where the game is designed to produce more wins for the bank than for the player.
Games where some or all of the bets are paid at a value that is less than what the value of their statistical outcomes would be.
Games that have a fee assessed to bets that would, without that fee, be an even proposition.
The game of casino craps combines many of these bets and edges, and understanding which of these edges, along with the value of that edge, applies to each bet is extremely important so that a player can choose bets that offer the best chance of winning.
In the following pages, our craps tips about bets and inherent edges will hopefully help to make you a better and smarter player.