Craps Table Payout Calculator
There are many math out that people use, even in daily life, to quickly calculate a fraction or craps. Take the 5 or 9 on the craps table. In craps, the odds on 5 or 9 pay 3 to 2. Whatever the odds out, divide it by pay, and add that craps the original number. Figuring out place bets on the 4 or 10 at 9 to 5 odds is not that hard. One of the most reliable and fun platforms, PlayAmo online casino offers its players all of the best games, promotions, and benefits. Find the most popular and notorious games from the biggest providers in the industry, use the most user-friendly promotions and Craps Table Payout Calculator gifts and score some of the biggest payouts the casino industry has ever seen.
Thread Rating:
I recently found this new online casino where you can gamble using Bitcoin Cash. They claim that their games are provably fair, and that they have among the lowest house edge in the business (with a 99% expected return). I would appreciate if someone could help me calculate the house edge for their place and buy bets on their craps game, in order to figure out when to choose which bet, and to see how they compare to Vegas. In Vegas I normally place the 6 & 8 for a 1.52% house edge, and the 4 & 10 for a 1.67% house edge (paying $1 commission on a $25 bet AFTER a win only). Especially I don't know how to calculate and compare the house edge on buy bets depending on if you pay commission on every bet vs only when when you win. Any help would be greatly appreciated.
Here are their payouts:
All Buy bets: Pay 1% commission up front and receive true odds on win.
Place 4 & 10: Pays 39 to 20.
Place 5 & 9: Pays 29 to 20.
Place 6 & 8: Pays 29 to 25.
Interestingly, I can easily see that their payouts on 4/10 and 5/9 place bets are higher than in Vegas. However, because they chose to pay 29 to 25 on the 6 & 8, I guess to be consistent with their 'xx to 20 payout' on the other numbers, that's actually lower than 7 to 6. So that's not good. I guess it's because if they went up to the next value higher, 30 to 25, then the house edge would be 0%. So I'm especially wondering how the house edge on a 29 to 25 place bet payout would compare to a buy bet with a 1% commission upfront.
Also, if someone has an excel formula or ready-to-go spreadsheet where you can punch in your variables to calculate the house edge, that would be awesome.
EV = ( 1 + O ) * p - 1, where O is the odds paid, and p is the probability of winning.
For 4 or 10, p = 1/3. For 5 or 9, p = 2/5. And for 6 or 8, p = 5/11.
Place 4 & 10: Pays 39 to 20. EV = (1+39/20)*(1/3)-1 = -1.667%.
Place 5 & 9: Pays 29 to 20. EV = (1+29/20)*(2/5)-1 = -2%
Place 6 & 8: Pays 29 to 25. EV = (1+29/25)*(5/11)-1=-1.818%
With 1% commission paid up front:
Buy the 4 or 10: EV = [ 1 + (2-.01)/(1+.01) ]*(1/3)-1 = -0.990%
Buy the 5 or 9: EV = [ 1 + (3-.02)/(2+.02) ]*(2/5)-1 = -0.990%
Buy the 6 or 8: EV = [ 1 + (6-.05)/(5+.05) ]*(5/11)-1 = -0.990%
Hi,Also, if someone has an excel formula or ready-to-go spreadsheet where you can punch in your variables to calculate the house edge, that would be awesome.
ok, I have what you want. had to clean it up firsthere is Excel in Google
https://goo.gl/6uLxbf
the yellow cells should be changed only
I did not protect the sheet so be careful!
the buy bets are actually really easy as long as you know the values
(I included the easy part too)
for the edge
up front Buy bets
formula
$vig/(wager+$vig)
on win Buy bets
formula
$vig/(wager+$pays)
try it out, really sweet too!
hope this helps out
have fun!
Sally
P.S. Has anyone found an online casino that has an even lower house edge than this one on place/buy bets?
Besides being the best play, the math is much easier for the buy bets...1% commission and true odds instead of 39/20, 29/20, 29/25.
Though I’m surprised they didn’t set the 6&8 place payouts at 47/40 or 59/50...since they have lowered the edge on everything else.
and the 4 & 10 for a 1.67% house edge (paying $1 commission on a $25 bet AFTER a win only).
that 1.67% edge is for $20 unit bets (like $20, $40, $60 etc)1/60, 2/120, 3/180 and so on
your $25 Buy with just $1 on a win edge is 1/75 or about 1.33%
so you do just fine there
sweet!
Especially
I don't know how to calculate and compare the house edge on buy bets depending on if you pay commission on every bet vs only when when you win.
Any help would be greatly appreciated.
Craps Payout Chart - Craps Bet Payout Tables And Odds
hope we helped outI never played craps online
hope you do well
Sally
Though I’m surprised they didn’t set the 6&8 place payouts at 47/40 or 59/50...since they have lowered the edge on everything else.
but most all place bettors place the 6&8 so they made it higher so the casino makes more. That has to make the shareholders happier (if there are any)now, imo, most do not know how to figure out the house edge of non-standard craps payouts and even when they know it could be a higher edge, I still think most would still place the 6&8 as it is 'in their style of play'
Sally
Craps Payouts How To Calculate The Odds Of The Payouts
that 1.67% edge is for $20 unit bets (like $20, $40, $60 etc)
1/60, 2/120, 3/180 and so on. Your $25 Buy with just $1 on a win edge is 1/75 or about 1.33%
so you do just fine there
CRAPS ODDS
Odds describes the number of times something won’t happen next to the number of times it will happen. If an event is determined to have 1 to 1 odds, that means the event has an equal chance of occurring or not occurring. Craps is played with a pair of dice. Since each die has six sides there are six possible outcomes. Two dice makes 6×6 and therefore there are 36 possible combinations on each roll.
Since only one combination can give you a total of 12 (6 + 6), the probability of this on any given roll is one in thirty-six.
In order to become a more confident player, it can be helpful to know the odds of any number being rolled before a 7. For example, the odds against rolling a 5 before a 7 using two dice are 6 to 4. We get these odds because there are six ways to make the 7 vs. four ways to make the 5.
To figure this out, take the number of ways a 5 can be made with two dice (1 + 4, 2 + 3, 3 + 2 and 4 + 1) for a total of four ways. Then, compare this to the total number of combinations that two dice can make, which is thirty-six.
Now, we have a four in thirty-six, or one in nine, chance that a 5 will come up on any given roll. To express these odds, you would say the odds against rolling a 5 are 8 to 1. We say this because there are eight chances of not rolling a 5 vs. one chance of rolling a 5 for a total of nine rolls. This determines the ‘true odds’ of rolling a 5.
What is the house edge?
The house edge is a built-in mathematical advantage the casino has over the player in a game. Think of it as the amount of profit the casino earns – a percentage of a player’s original bet.
The house edge in craps varies based on the different bets available, but the game is among those with some of the lowest house edges in the casino. In fact, some bets in craps have no house edge at all. Of course, for other bets the house edge can go as high as 16.67%.
No matter how you bet, the longer you play the less likely you are to walk away a winner. Anyone can win, but it’s not a good strategy to try to win back the money you’ve lost. This is more likely to lead to further losses.
Below is a summary of the most popular craps bets with their true odds and respective payouts, or odds paid. These bets are popular because of their favourable odds and lower house edge, compared to other craps bets.
The following shows you the true odds for popular craps bets, alongside their standard payouts, which include the house edge. Keep in mind, payouts are standard and will vary depending on the casino. The house edge ensures that over time, players lose more money than they win.
Pass Line/Come Bet
Actual or “True” Odds: 251 to 244 Odds Paid or Payout: 1 to 1 House Edge: 1.41%
Don't Pass/Don't Come Bar
Actual or “True” Odds:
244 to 251
Odds Paid or Payout:
1 to 1
House Edge:
1.36%
Pass Odds/Come Odds
Actual or “True” Odds:
2 to 1 on 4 or 10, 3 to 2 on 5 or 9, 6 to 5 on 6 or 8
Odds Paid or Payout:
2 to 1 on 4 or 10, 3 to 2 on 5 or 9, 6 to 5 on 6 or 8
House Edge:
0%
Don't Pass Odds/Don't Come Odds
Actual or “True” Odds:
1 to 2 against the 4 or 10, 3 to 2 against the 5 or 9, 6 to 5 against the 6 or 8
Odds Paid or Payout:
1 to 2 against the 4 or 10, 3 to 2 against the 5 or 9, 6 to 5 against the 6 or 8
House Edge:
0%
Place Bets
Actual or “True” Odds:
2 to 1 on 4 or 10, 3 to 2 on 5 or 9, 6 to 5 on 6 or 8
Odds Paid or Payout:
9 to 5 on 4 or 10, 7 to 5 on 5 or 9, 7 to 6 on 6 or 8
House Edge:
6.67% on 4 or 10, 4% on 5 or 9, 1.52% on 6 or 8
Can I increase my chances of winning?
The true odds in craps are based on mathematical probability. Nothing you can do will affect the outcome of the dice. Even if you stick to bets where the true odds are higher, there’s no guarantee of rolling a winning outcome.