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Table Games House Edge on Craps

Discussion in 'Table Games' started by Bryant, Jan 13, 2020 at 8:57 AM.

  1. Bryant

    Bryant Tourist

    Dec 16, 2019
    Trips to Las Vegas:
    I've noticed on websites that house edge on craps is broken down to 3 categories: "Per bet made", "per bet resolved", and "per roll."

    Which category do you look at as the most significant to properly illustrate the house edge?
    Which category is the most popular?
  2. The Rumor

    The Rumor VIP Whale

    Jul 28, 2015
    Trips to Las Vegas:
    It depends upon what you're trying to measure. In the aggregate, per roll is probably more useful, because per roll gives you an idea of what you're going to lose per hour over time. If you lose 1% per roll, that's a worse bet in the long run than a bet than loses 2% per roll. You will lose EV (and real money) faster.

    A way to think about this is as follows:

    - A single outcome bet like field has the same cost per bet resolved and per roll because it pays (or does not pay) every single roll. With Triple on the 12, it pays back 35/36 on every roll - it costs you 2.78% each time you make the bet.

    - If you bet 5 or 9 as a place bet, you lose 4% per bet resolved but you only lose 1.11% per roll, because you only resolve on 10 out of 36 potential outcomes of the dice. Thus, while the field bet has a higher "per bet resolved" value, it's going to increase your volatility and cause you to lose money faster.

    Where per bet resolved comes into play is it tells you if bets that don't resolve very often are poor underlying bets. E.g. skip place betting on 5 or 9 instead of 6 or 8, which have a much better underlying house edge.
    • Informative Informative x 1
  3. pressitagain

    pressitagain VIP Whale

    Aug 15, 2013
    Toronto, Canada
    Trips to Las Vegas:
    While I appreciate answering all of the questions relating to craps.

    My question to the OP is....have you even placed a bet????
    • Funny Funny x 1