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A little less than full Place odds

Know the difference between Place odds and true odds. Learn the difference so you don’t have to think about it. You don’t want to look like a newbie fumbling around with how much to put down for each Place number. (James Bond never asked the dealer, “Um, excuse me, how much is the six?”) However, if you have trouble remembering the Place odds the first time you play, don’t be afraid to ask the dealer how much to drop. It’ll be as easy as pie after 15 minutes at the table.

If you’re like me, you’ll search out and play a table with a $3 minimum bet instead of the typical $5 or $10 minimum. Suppose you find a $3 table (a few are still left in the middle of the Vegas Strip). Since the minimum bet is only $3, you can make $3 Place bets, but you don’t get the full Place odds. The payoff odds for a $3 bet on the 6 or 8 are 1:1, or even money. For the 5 or 9, it’s 4:3 (i.e., your $3 bet wins $4). For the 4 or 10, it’s 5:3 (i.e., your $3 bet wins $5). UFABET

For a $3 Place bet, you get a little less than full Place odds because the lowest chip denomination at the craps table that casinos allow is generally $1, so they can’t pay you a fraction of a dollar (i.e., cents). For example, suppose you make a $3 bet on the 5. The full Place odds are 7:5, but the reduced payoff odds for a $3 bet are only 4:3. Why? Because it gives the casino another excuse to stick it to the player! The roulette table has chips for 25 cents or 50 cents, so why can’t the craps table have chip denominations less than $1? That’s right. They stick it to you again! The full Place odds are 7:5, which means for a $3 Place bet on the 5, we divide $3 by 5 = 60 cents, and then multiply 60 cents by 7 = $4.20. So, for a $3 Place bet on the 5 or 9 with full Place odds of 7:5, we expect to be paid $4.20 when we win. The craps table doesn’t have 20-cent chips, so the casino rounds down to $4.

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