Posts Tagged ‘house edge craps’

Calculating the House Edge in Craps

Calculating House Edge on CrapsToday, I will continue with my past article which was about how to calculate the house edge when playing Craps. As I said, the same method that we used for the rest of the games cannot be applied with Craps because most of the commonly based bets in Craps are not decided in a single roll, unlike Roulette in which all bets are decided in one single spin.

In theory, when it comes to Craps a player can keep on rolling for a whole hour without the Pass Bet being settled if neither the point nor 7 is rolled again any time. In this case, the Pass Bet is known and the player is able to estimate that they can make 60 rolls per hour but they cannot estimate the expected loss per hour. On the other hand, if the player is given the value of the house edge per roll for the Pass Bet they will be able to compute the expected hourly loss as in the same way as I explained in my last article.

Luckily for Craps players, the house edge per roll can be computed using advanced statistics to determine the average number of rolls required to complete each bet in Craps. Universally, the house edge for the Pass Bet is 3.38. You must notice that what this means is that if a player places the Pass Bet 1,00 times and each time the number of rolls it took to complete the bet is recorded, they will find that the average is very close 3.38. After this, to determine the house edge per roll, we will divide the house edge by the average number of rolls required to complete the bet.

For example the Pass Bet in Craps has a house edge of 1.41% so the house edge per roll is 1.41%/3.38 which means that if a player wagers $100 every time on a fresh Pass Bet they can expect to lose about $0.42 on each roll and on 60 rolls (hypothetically done in one hour) he can expect to lose $25.50.

This is a list of the house edges per roll for some of the other bets in Craps:*

Don’t Pass: 0.40%
Place 6, 8: 0.46%
Place 5, 9: 1.11%
Place 4, 10: 1.67%
Big 6, 8: 2.78%
Hard 4, 8: 2.78%

*Taken from CasinoAdvisor.com

blog: thevirtualcasino.com