The fundamental bet in craps is the pass line bet, in which one bets that the dice will pass (that is, roll the point number before rolling a 7).
If a point is made, most casinos allow pass line bettors to take odds by placing from one to five times (and at some casinos, up to 100 times) the pass line bet behind the line. This additional bet pays at the true odds, 2to1 if 4 or 10 is the point, 3to2 if 5 or 9 is the point, and 6to5 if 6 or 8 is the point. While the house has a small (1.4%) advantage on pass line bets, the house has no advantage at all on odds bets. Therefore, taking the maximum odds (which vary by casino) can lower the house percentage for any given bet down to as low as 0.5%.
Pass Line Bet  You win if the first roll is a natural (7, 11) and lose if it is craps (2, 3, 12). If a point is rolled (4, 5, 6, 8, 9, 10) it must be repeated before a 7 is thrown in order to win. If 7 is rolled before the point you lose.
Odds on Pass Line Bet  After a point is rolled you can make this additional bet by taking odds. There are different payoffs for each point. A point of 4 or 10 will pay you 2:1; 5 or 9 pays 3:2; 6 or 8 pays 6:5. You only win if the point is rolled again before a 7.
Come Bet  It has the same rules as the Pass Line bet. The difference consists in the fact you can make this bet only after the point on the pass line has been determined. After you place your bet the first dice roll will set the come point. You win if it is a natural (7, 11) and lose if it is craps (2, 3, 12). Other rolls will make you a winner if the come point is repeated before a 7 is rolled. If a 7 is rolled first you lose.



Odds on Come Bet  Exactly the same thing as the Odds on Pass Line bet except you take odds on the Come bet not the Pass Line bet.
Don't Pass Line Bet  This is the reversed Pass Line bet. If the first roll of a dice is a natural (7, 11) you lose and if it is a 2 or a 3 you win. A dice roll of 12 means you have a tie or push with the casino. If the roll is a point (4, 5, 6, 8, 9, 10) a 7 must come out before that point is repeated to make you a winner. If the point is rolled again before the 7 you lose.
Don't Come Bet  The reversed Come Bet. After the come point has been established you win if it is a 2 or 3 and lose for 7 or 11. 12 is a tie and other dice rolls will make you win only if a 7 appears before them on the following throws.
Place Bets  This bet works only after the point has been determined. You can bet on a dice roll of 4, 5, 6, 8, 9 and 10. You win if the number you placed your bet on is rolled before a 7. Otherwise you lose. The Place Bets payoffs are different depending on the number you bet on. 4 or 10 will pay 9:5; 5 or 9 pays 7:5, and 6 or 8 pays 7:6. You can cancel this bet anytime you want to.
House advantage
2%  17%
Odds bets in craps are one of the few bets offered at a casino that are completely free of any house advantage. Another such bet is the "doubleup" option offered to the player in some forms of video poker after winning a hand.
Let's see why that is. There are 36 possible permutations (ways to roll a pair of 6sided dice):
t.o. = true odds
w.t.m. = ways to make
11

= 1 w.t.m. a 2


12 21

= 2 w.t.m. a 3


13 22 31

= 3 w.t.m. a 4,

t.o. pays 21

14 23 32 41

= 4 w.t.m. a 5,

t.o. pays 32

15 24 33 42 51

= 5 w.t.m. a 6,

t.o. pays 65

16 25 34 43 52 61

= 6 w.t.m. a 7


26 35 44 53 62

= 5 w.t.m. an 8,

t.o. pays 65

36 45 54 63

= 4 w.t.m. a 9,

t.o. pays 32

46 55 64

= 3 w.t.m. a 10,

t.o. pays 21

56 65

= 2 w.t.m. an 11


66

= 1 w.t.m. a 12


There are a total of 36 possible combinations. So on the comeout roll there are 8 ways to win, 4 ways to lose and (3612=) 24 ways to start a point.
The odds of making the point are the ratio of the number of ways to make a 7 to the number of ways to make the point.
Most experienced craps players only make pass line and odds bets since the odds are much more favorable to the player than any other bets in craps.
The rules for the come wagers are the same as for the pass line except that they can only be made after the comeout roll.
Because of the come bet, if the shooter makes their point, a player can find themselves in the situation where they have a come bet with odds on it, and yet be rooting for the shooter to roll a 7 on their next comeout roll. Because of this, it is usual that odds bets on come wagers are presumed to be not working. That means that if the shooter rolls a 7 on the comeout roll, any players with active come bets lose their initial wager but will have their odds money returned to them, unless they tell the dealer that they want their odds working. Conversely, if the shooter rolls a number that matches an active come bet, the original bet is paid off at even money and the odds money is returned to the player.
When betting against the shooter, the bettor must put up the long side of the bet. Thus a don't pass bettor who bets $10 when the point is a 4 could place an odds bet of $20 behind the line. If the shooter rolls a 7 before achieving their point, the bettor would receive $10 for the don't pass bet plus $10 for their odds bet. Even though the house advantage on the "don't pass" and don't come bets are almost identical to the pass line and come bets, for most players the disadvantage of putting up the long side of the bet makes the "don't pass" line less desirable. Additionally, many craps players consider don't pass and don't come bets to be in poor taste, or even "taboo".
