An Advanced Casino Craps question....i have been wondering this and cant figure it out...?

Question

Why/how does the house edge decrease if your odds bet increases....the basic pass line bet the house odds are 1.4somethin.....and when you ad odds they decrease and the more odds you add the more they decrease...i understand that the advantage is equal with the initial odds bet because the pay out is equal to the odds of winning/losing...but i dont understand how the more money you bet on odds the less of a house edge there is....

Answer 1

Try to look at the bets separately. The house has 1.41% (I think) edge on pass line bets. The house doesn't have any edge on odds, they pay true odds.

If you bet $5 on pass line you will win $5. So $5 to win $5. Lets say the point is 10, odds pay 2 to 1 on the 10 (also the 4). So if you bet $5 pass line and $10 odds then you have $15 bet to win $25. You are no longer winning even money like you would without the odds. This will reduce the house edge.

This is probably hard to follow unless you've played a lot of craps. Maybe this is more understandable

http://wizardofodds.com/craps

Answer 2

Since there is no advantage one way or the other for the odds bet, it makes it a 100% return.  The pass line itself is only around a 95% return.  So with the more odds you put down the less overall advantage the house has over your total line bet.

Answer 3

Not exactly sure that i get you.

If you are measuring house advantage based on a $5 no pass bet, then allow someone to bet 10 times odds, $50, on a point, the house odds, on this shooter are lower than when a $5 no pass, is followed by a $5 odds bet.

that's the only way the odds would shift for house when the bet increases, as far as I can see.