Place, Bush and Lay Bets
The place bet is the most straightforward bet in craps. You choose one of the possible points-4, 5, 6, 8, 9, or 10-and bet that the next roll will come up on your point. The payoffs on place bets vary according to how likely it is your chosen number will come up. For example, the payoff on a 4 or a 10 is typically 9:5, but it’s usually just 7:5 on a 5 or 9, and only 7:6 on a 6 or 8. The higher payoff means it’s harder to roll the number. For example, a 5 or 9 each will, on average, shore up about 11 percent of the time on random dice rolls, while a 4 or 10 each shores up only about 8 percent of the time. A 6 or 8, on the other hand, will come up about 14 percent of the time-hence the lower payout on those two numbers.

A buy bet is the same as a place bet, except you pay a 5 percent commission up front to the house; in return, you are paid true odds if you win. Under a buy bet, you’re paid 2:1 on 4 or 10, 3:2 on 5 or 9, and 6:5 on 6 or 8.
A lay bet is made on a point number-4, 5, 6, 8, 9, or 10-but you’re actually betting against the dice. That is, you’re betting that a 7 will come up before the point number you selected. A 7 is, statistically, the most likely number to come up on any given roll of two dice; that’s why the casino charges a commission on this bet. Typical payoffs are 1:2 if you bet on 4 or 10, 2:3 if you bet on 5 or 9, and 5:6 ii you bet on 6 or 8.

Odds of the game
Most experts agree that in craps the easiest way to trim down the house edge to virtually nothing is to take advantage of the odds bet option. You won’t find a place for this on the table layout, but it exists. Odds bets give you true odds (not casino odds). However, the house edge is still the same on the pass-line bets, so the house still has an advantage. Odds bets complement bets on pass-line, don’t pass. Come, and don’t come. Depending on the casino, you’re allowed to wager up to 100 times your original pass-line bet; in most cases, your odds bet must at least equal your pass-line bet. The odds bet cannot be placed until a point is set, so you can’t make this bet on the come-out roll. For example, assume you made a $10 pass-line bet, and the point is set at 5 on the come-out roll. If the next roll also comes up 5, you win even money on your pass-line bet. Now, assume you placed an additional $10 odds bet. Not only do you win even money on the pass-line bet, but 3:2 on your $10 odds bet, or another $15. Payouts on odds bets depend on the point. Usually 4 and 10 pay 2:1, 5 and 9 usually pay 3:2, and 6 and 8 usually pay 6:5. Additionally, at most casinos, you can remove your odds bet at any time.

Craps betting strategies
The best craps strategy for tile novice is to take advantage of the pass-line and odds bets. With these wagers, you can enjoy the game without worrying too much about technicalities. As has been shown, some of the other options offer poor odds or a high house edge and should be avoided. Some experts recommend that you continue making come Bets until all the possible points are covered, but that may be too risky for the casual player. A more moderate approach is to make come bets until you have three numbers covered; if you win on one point, then you can place another bet so that you still have three numbers working for you. You also can try hedge betting, which is a wager that more or less wipes out another wager. For example, you can combine a come bet with an “any craps” proposition bet. You’ll win even money on the come bet, but lose your proposition wager, or you’ll win 7:1 on the proposition wager and lose your even money wager.