Taking The Odds
When the shooter establishes a point on the come-out roll, any player who has made a pass line bet is allowed to "take the odds". A single odds bet is an additional wager, up to the amount of your original wager, that the point number will be repeated before a 7 is rolled. The odds bet is the best wager you can make in the game of craps, because the house has no built-in advantage. Some casinos permit players to make double odds, and even greater odds wagers. The odds bet not only has no house edge associated with it, but also has no official designated space on the craps table. Therefore, to take the odds, you must place the appropriate amount of chips behind your pass line bet in the open area of the craps layout.
The correct payoff for odds bets varies from point number to point number, depending on the odds of a 7 being rolled before a particular point is repeated. The payoff formula is the same whether you take single odds, double odds, or more. Correct odds payoffs are as follows: Points 4 and 10 pay 2-to-1 Points 5 and 9 pay 3-to-2 Points 6 and 8 pay 6-to-5 As an example, suppose you bet $1.00 on the pass line and establish a point of 4 in a casino that offers double odds. You now have the option of taking the adds for an additional $2.00. You can also wager a lesser amount or choose not to take any odds at all.
If you repeat the point number (4) before rolling a 7, you will get your original $3.00 back, plus an additional $5.00. Of that $5.00, $1.00 will be the even-money payback on your pass line wager, and $4.00 will be the 2-to-1 payoff for a point of 4 on your odds bet of $2.00. If you roll a 7 before repeating your point of 4, you will lose your initial $1.00 wager on the pass line, plus your $2.00 odds bet, for a total loss of $3.00. You are allowed to remove your odds wager from the craps table at any time, as a casino does not object to your taking down a bet that has no house edge. If you have difficulty at the craps table in determining the proper amount to bet in order to receive the correct odds payoff, feel free to ask one of the dealers for assistance. You don't want to lose out on any winnings that are rightfully yours.
