Craps Table Payout Calculator
There are more than 120 different bets that can be made at a craps table. There are bets that the dice will roll a natural, and there are bets that the dice will 'crap out.' In fact, it seems that for every bet you can make, there is an opposite bet. To calculate the payout in craps for any bet, convert the payout odds from a fraction to a decimal. Players should then multiply this decimal by the amount they want to wager to determine their potential payout. For instance, a bet on point 4 in craps has payout odds of 9:5. Converted to decimal form, this is 1.8. Check out the payout odds for each bet and free odds table for charts, house edge and odds percentages information. Calculate Craps Odds and Probabilities. If you would like to calculate the odds of rolling a certain combination, just take the number of possible combinations of that roll and divide it by the total number of possible outcomes.
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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. Every time the dice are thrown it usually results in the dealer picking up chips or paying out chips. Do you know the sequence of payouts and why it is important to you? Find out in this video!
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
Printable Craps Pay Chart Including Both True Odd And Place Payouts
P.S. Has anyone found an online casino that has an even lower house edge than this one on place/buy bets?
Calculating The Payouts Craps Forum
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!
Craps Table Odds Payout Calculator
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.
I 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 Payout Cheat Sheet - The Complete Craps Betting Payout ...
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