The dealer removes your Place-bet chips from the point box and puts them in the apron in front of you. Just before it’s your turn to be paid, you tell the dealer, “Same bet, please.”  The dealer puts $7 in chips in the apron directly in front of you. The table is packed and you stand shoulder-to-shoulder between two gorgeous women (or men). He counts out your $7 in winnings, and then puts $6 of it on your original Place bet on the 6, and he puts the remaining $1 in the apron directly in front of you. Horse Racing Odds Explained: How to Read Odds & Calculate Payouts, How to Calculate Betting Odds and Payouts. If you make a $20 Place bet on the 4 and win, just do some quick and easy math in your head to figure it out. Now, you have five numbers working for you: Place bets on the 4, 5, 6, and 8; and the Pass Line with Odds bets on the point of 9. Craps Payout Chart and Odds For Each Craps Bet. The pairing 5 and 9 has Place odds of 7:5, which means for every $5 you bet and win, you win $7. This is why every racetrack has television simulcast commentator who handicaps between the races as well as publishing handicapping tip sheets to help you place your bets. Here is a quick reference chart that explains your chances of winning the types of bets mentioned earlier and the expected payout. This is a simple betting option that can be broken down into three components: Win, Place and Show. What’s the maximum Place bet on the 4 you should make with your remaining $23? ‍ Club World Casino Review,  Visit Casino Max  If your chips are moved out of position and behind the line, then the crew and camera might think they’re an Odds bet on the Pass Line. 17. Simply put $22 in the Come box and tell the dealer, “Twenty-two dollars inside, please.”  The dealer knows that you want $5 on the 5, $5 on the 9, $6 on the 6, and $6 on the 8. The dealer first pays Joe’s Come bet, then Jill’s Come bet, and then Jack’s Come bet (in that order). For example, if you don’t understand why the numbers are paired, ten you should go back and review the basic craps math. Joe Biden VS Donald Trump. Refer to the figure below for Player Positions and examples of their Place bets. Now, your Place bet on the 6 is up to $12 (remember, Place bets on the 6 and 8 should be in multiples of $6). A 2/1 fraction suggests that for every 2 failures, there’s one chance of success, giving you a 33% probability; 3/2 means a 40% chance, 2/3 works out to 60%, and 10/1 means a 9% chance, and so on. Since the win bet payout table is just for win bets, estimating the place payout is a bit tougher. This amount includes the initial stake of $100, giving … The shooter rolls a 5 and everyone jumps for joy. This is a great example of why it’s good to play a cheap $1 table at an online casino before hitting the live tables in Vegas. After making a Place bet, the outcome of each roll is either: 1) the Place number appears and you win; 2) a 7 appears and you lose; or 3) any other number appears, which means nothing in terms of winning or losing. 13. 6. Since your Place bets were off on the come-out, you don’t win your Place bet on the 9 when the shooter rolled 9 as the new point. Also, the cheap $1 online casino let’s you play at your own pace so you can take your time and know what you’re doing before doing it. You tell the dealer, “I want all my Place bets working on the come-out.”  The dealer puts an ON button on one of your Place bets to indicate that they’re all on and working on the come‑out. Your Place bet on the 6 wins again (remember, this bet is up to $12). Superfecta: Pick the order of the first four finishers in one race. When the table is hot, those two rectangles are covered with chips that look like a chaotic confusing mess, but it’s actually very organized. To ensure the dealer knows exactly what I want, I always say, “Same bet, please.”  Some dealers are sensitive (why, I don’t know) and respond, “Sir, if you just don’t say anything, I’ll know you want the same bet.”  I usually politely reply with something like, “Most dealers aren’t as good as you, so I’m in the habit of saying same bet.”  That way, I can continue saying, “Same bet, please,” and joke it off without irritating the dealer. For instance, if you wager $100 on a horse with 20:1 odds … 4. He pays all Pass Line bets first, then all Come bets, and then all Place bets. Win Bets: Choosing the horse that crosses the finish line first. The shooter rolls a 6. By … We hope this guide better explains horse racing odds and turns you into a confident bettor. Depending on the point, Place numbers are considered either “inside” or “outside.”  Generally, for Place bets, the 4, 5, 9, and 10 are considered outside numbers. Normally, Place bets are considered off on the come-out, but you want them working because the shooter is rolling lots of numbers. A bettor will have his wagered money tied up until there is an outcome and bettors will receive fixed odds when they place the wager. The table below shows how the casino odds (or payoff odds) compare to the Place bet’s true odds. Depending on the race and the rules of the racetrack, the minimum could be slightly lower. After a point is established, the only numbers that matter for Pass Line bets are 7 and the point number. I strongly suggest, if you’re going to play for “big” money at a live table, then you should learn the Place odds for each pairing, learn the bet multiples for each pairing, and learn to quickly calculate in your head the winning payouts. If the bet was for strictly $2 ea the payout would’ve been $3.20 + $2.40 for a total win of $5.60. The shooter rolls a 9; therefore, the point for this game is 9. Use this approach when you no longer want action on a particular number for the rest of the game. That means, for every $5 you bet and win, you win $9. For example, #8 is (7-1), so 7 x $2 = $14, Add $2 = $16 payout. You jump up and down shouting, “Yeah, baby, that’s what I’m talking about! For your Flat Pass Line bet, a 7 on the come-out is a winner, so the dealer puts a $5 chip next to your Flat Pass Line bet. For a winning $5 Place bet on the 4 or 10, we win $9 compared to the $10 we’d expect to win if there were no house advantage. For easy math, we used round numbers. Pick up your winnings. The probability of this bet winning is 13.16%, and the payout – 6:1. 19. The following Do’s and Don’ts describe more information for how to make a Place bet. The players have the following Place bets in those rectangles (notice that the chips in those rectangles are carefully positioned to correspond with the Player Positions). Does Player #8 have any Place bets? The only time you can make a Place bet by yourself without the dealer’s help is when you Place the point, which is uncommon because most people have the point number covered with a Pass Line bet. You had a long day at work and you just want to get a glass of wine and bag of chips, plop down in your computer chair, login to your favorite online casino (such as the Sun Palace), and play a few games of craps until your favorite TV show comes on. The chips tend to creep out of position for various reasons, such as they get hit by the dice from people at the other end of the table rolling towards your end. The common rule among almost all casinos is that the Place bet is automatically considered “off” (i.e., not working) on the come-out roll of a new game. Player #8 has a Place bet on the 4, which is the point. Show means a horse has finished in the third position. Take it slow until you get the hang of it. Simply tell the dealer, “My five is working on the come-out.”  The dealer then places an ON button on top of your Place bet to show the boxman and camera that your Place bet is working on the come‑out. With horse racing you are betting against other betters. Are you just placing bets blind and hoping for the best? The numbers displayed as 4-7 or 2-5 tell you what you pay and how much you get back if the horse you bet on wins. Your total payout is $210. Then trust us and keep scrolling. However, if you want it to remain “on” and working on the come-out, simply tell the dealer and he’ll put a little button labeled “ON” on top of your chips to indicate to the crew and camera that your bet is still working. Wow! To keep track of payouts for place bets, the dealers will start with the player located nearest to the stickman, and then pay out winnings in sequential order. There are several types of pari-mutuel horse bets. Here’s how it breaks down: House takeout: $15,000 (15%) (This means there is $85,000 available to be won). 5. So that's what happens when you bet on favorites using American odds. 18. For a winning $10 Place bet on the 5 or 9, we win $14 compared to the $15 we’d expect to win if there were no house advantage. 4. Should I Download Craps & Play for Money? Very good! You feel lucky, so you take a whopping $20 in Odds on the point behind the line. We’re rooting for a seven on the come-out, so if you keep your Place bets working and a seven shows, you’ll lose all your Place bets.”  You think, “Shut up and play your own game,” but you politely say, “The table is getting hot, so I’m going for it.”. 16. 10. … This may vary between some casinos so … Suppose you walk up to a table in the middle of a game and drop some chips in the Come box and say, “Thirty-two across, please.”  What does “$32 across” mean? The 5 and 9 may, indeed, be considered either inside or outside, depending on the circumstances. As you can see here, the payouts are slightly lower than true odds. Let’s look at the pairing 4 and 10, which has Place odds of 9:5. One of the surest ways people lose money on horse racing is not knowing how to bet or understanding the odds. The shooter rolls a 9. I’m so stupid.”  The babe looks at you rolling her eyes with an I-told-you-so look. Place Bets: You are betting on a horse to finish second. That was a lot to absorb all at once. Divide that figure by the amount bet … And that’s all good gamblers want to do. In this example, what’s the minimum Place bet you can make on the 4? “Winner, winner, steak dinner!”  You high-five everybody at that end of the table and the girl in the halter top gives you a big hug. The house edge for place 4 and place 10 is 6.67%, the house edge for place 5 and place 9 is 4.00% and the house edge for place 6 and place 8 is a very nice 1.57%. The bet multiple is $5, so the biggest $5 multiple you can squeeze out of your remaining $23 is $20. One sure way you will be tagged as an amateur is if you do not know and use horse racing odds jargon. For example, suppose three players each have a Come bet and a Place bet on the number 5. In your specific instance, a $2.00 place wager on Dr. Post paid out $5.80 so for a $10.00 place wager on Dr. Post would pay out … Are you one of them? The shooter rolls another 6. Dealers memorize payout odds. If you or someone you know has a gambling problem and wants help, call 1-800 GAMBLER. Knowing how to read Vegas Odds is important to every gambler not just to place a bet, obviously, but to place a smart bet. Don’t let it scare you into giving up on this great game! The dealer pays you $5 for your Flat Pass Line bet and $40 for your Odds bet. Your Place bet on the 9 wins. If the favorite runs out of the top two spots, the place payout will be larger, simply because the money bet on the favorite to place is now available to the holders of winning place … This easy-to-read chart explains exactly what the payout would be on a $2 winning bet at various odds: One of the reasons why horse betting is difficult is because the odds fluctuate every time a bet is placed. Also for exotic wagers, the payouts are calculated differently. Keep in mind, the top ten riders in the jockey standings win about 90 percent of the races run during the meet and favorite horses win about 33 percent of the time, and have low payoffs. You then drop some chips in the Come box and tell the dealer, “Sixteen dollars inside, please.”  What bets are you telling the dealer you want to make? Most of the time, you need the dealer’s help to make a Place bet (i.e., generally, it’s not a self-service bet). If you or someone you know has a gambling problem and wants help, call 1-800 GAMBLER. Another example, suppose the point is 5 and you want to make Place bets on the 4, 9, and 10. ‍ Club World Casino Review,  Visit JackpotCity  You still have a Place bet on the 9 (which is now the point for this new game), so the dealer asks, “Sir, what would you like to do with your nine?”  You now already have the 9 covered by your Pass Line with Odds bets since 9 is the new point, so you don’t want to cover it again with a Place bet. Please see our terms and conditions for more details. Therefore, once you make a Place bet, the only numbers that mean anything in terms of winning or losing are the number you bet on and the 7. Your Place bets are still considered off because this is the come-out roll for a new game. Actual Payout: 20 divided by 1 plus 1 = 21 times original $1 = $21 payout. Your Place bet on the 6 wins. Everyone wants to be a winner, but the reality is that most of us do not fully understand the intricacies of horse racing odds. Let’s look at the pairing 4 and 10, which has Place odds of 9:5. Calculating Payouts From Moneyline Odds. But in the real world, this does not always happen. The shooter rolled his point, so the game ends. The payout for each … A new game is about to start. If you wanted to place a $10 wager on the USA at 2.40 you would simply need to multiply your $10 wager by the 2.40 odds (10 x 2.40) to find out that the payout is $24. The shooter rolls a 10. Therefore, the bet multiple for the 4 and 10 Place bets … When “turning off” a Place bet, you turn it off (i.e., make it not working) temporarily with the intent to turn it back on after one or more rolls. This scenario assumes you’ve learned the material in our other article about Pass Line bets. The dealer knows you want Place bets on all the numbers, including the point, for $5 on the 4, $5 on the 5, $6 on the 6, $6 on the 8, $5 on the 9, and $5 on the 10. Therefore, based solely on house advantage, it’s clear that the “smartest” Place bets are on the 6 and 8, the second best are on the 5 and 9, and the third best are on the 4 and 10. You have two options for removing a Place bet: 1) Take it down, or 2) Turn it off, as described in the following. This rounding is called breakage. The Miami Dolphins are favorites to win this Sundays game at -110 odds. The dealer then moves your chips to the appropriate location on the layout, which we’ll discuss in a moment. The Place payout was $8.00 … Move over, James Bond, you’re a natural at this! The first number tells you how much you could win, the second number is the amount you bet. The shooter rolls another 6. It may seem a bit confusing at first, but it’ll all become second nature to you after a few minutes at the table. You feel the table is still hot, so you take $30 in Odds on the point behind the line. Pick up your $5 in winnings (leave your $5 Flat Pass Line bet there for the next game). We see from the table above that the Place odds for the 5 and 9 aren’t quite good as those for the 6 and 8. For all of your Place bets, the 7 doesn’t matter this time because your Place bets are automatically off on the come-out roll for a new game. To get the payout per dollar (or decimal odds) $85,000 / $42,500 = $2.00, Your $2 bet will pay back a total of $4.00. Think about the odds, so think 9:5. If there is more than one horse with the same odds of winning it may be displayed with “JF” meaning joint favorite. Remember, the odds are 9:5. This fluctuation is called pari-mutuel wagering, or pool betting. The payout is 5:1, and the odds are 16.22% and 15.79% for European and American Roulette, respectively. Once the winning horse has crossed the finish line, the house will deduct its take and the remaining amount is then divided among the people who bet on the winning horse. However, I played this for $5 ea so the payout is 2 1/2 times the amount shown. These are the odds placed on each horse by the track’s handicapper. The craps payout chart below shows various payout statistics such as what kind of craps bets, true odds, payout odds and the total house edge after everything has been calculated through. He just said the 5 and 9 are considered outside, and then he said they’re considered inside. You think, “Man, I want some more action. If you have a Place bet and the shooter makes her point to end the game, your Place bet is automatically off on the come-out roll for the next new game. Exacta: When you pick the first and second place horse in that order. You may want to go back and review it several times to get a good feel for how the action goes. In fact, it’s quite the opposite. For now, let’s only talk about the two smaller rectangles on the top and bottom sides of the big square with the number in it. We did, indeed, mention Player #8 earlier when learning how to make a Place bet on the point. Reminder, the point for this game is 10. For example, suppose the table minimum is $15 (i.e., it’s a lofty $15 because you’re on the Vegas Strip where’s it’s hard to find a cheaper table nowadays). As noted above, you can make or take down Place bets any time you want. That’s why I never use this approach; I don’t want to have to worry about keeping my chips perfectly on top of that back line. The dealer pays you $5 for your Flat Pass Line bet and $45 for your Odds bet. If you’re going to make mistakes when you’re first learning the game, it’s better to make them at a cheap $1 online table than at a $5 or $15 live table. Give me some more of those pretty green chips!”. Otherwise, he’ll say something like, “Sir, please put your chips here in the apron.”. Casino Max is for almost anyone from anywhere in the world! The dealer then pays Joe’s Place bet, then Jill’s Place bet, and finally Jack’s Place bet (in that order). Here we will explain and simplify horse racing odds to make betting easier. The Place odds for the 4 are 9:5, which means for every $5 you bet and win, you win $9. You can also increase or decrease the size of your Place bet at any time. The shooter rolls a 7. Therefore, in this case, “$16 inside,” means you want Place bets for $5 on the 5, $6 on the 8, and $5 on the 9. The button shows the boxman and the camera that your Place bet isn’t working for as long as the button is on top of your chips. 1. Let’s do one more example of how to calculate your winnings. Let’s explain some U.S. horse racing odds examples: So how exactly do you read horse racing odds. Every time you’ve seen a die fly off the table, a 7 shows on the next roll. Let’s see if you’re paying attention. Most of the time when someone Place bets the point, it’s when they walk up to the table in the middle of a game and, instead of making Put bet on the Pass Line, they Place the point by positioning their chips centered on top of the back line of the Pass Line. In this example, since you feel the table is getting hot, you decide to move it to a Place bet on the 4. Notice in the figure below that each point number has four boxes associated with it, which are three smaller rectangles and one bigger square with a number in it. the payout is the same no matter whether the horse finishe… The shooter rolls a 4. Either at the track on the tote board or on your online sportsbook, the odds will change depending on how many people are betting on each horse in the race up until post time. Where the money is. We won’t judge. This approach saves the dealer from having to remove and replace chips from the table for players who like to turn their Place bets off and on a lot. To calculate prices … Let’s run through a scenario to make Place bets easy to understand. Since you kept your Place bets on and working on the come-out, they all lose because a 7 showed. In the case of the Super Bowl, you’re not a winner or loser until you see … Some bets have better horse racing odds than others. Suppose you make a Pass Line bet and the point is 6. Online Craps vs Live Craps: Is Playing Online Safe and Fair? The dealer must strictly adhere to the payoff sequence, so if you’re the last one to get paid, he might not remember what you screamed at him. Meaning: you will get $10 in profit for every $2 you wager, Actual Payout: 10 divided by 2 plus 1 = 6 times original $2 = $12 payout. Here is an odds payout chart for $2.00 win bets, plus free betting, parlay, margin and hedge calculators and current carryovers for all horse tracks. Since $15 is the table minimum, and since $15 is multiple of $5, the minimum Place bet on the 4 is $15 in this example. So if you're betting … When “taking down” a Place bet, you remove it completely from the table. The dealer pays off bets and players according to a strict sequence. When spoken, you would say this format as “four to one”. A win, Handicapping the Polls for the Presidency. Absolutely correct! Besides, when you’re at a live table in Vegas pretending to be James Bond trying to impress the Victoria’s Secret model next to you, you don’t want to look like a newbie by asking the dealer, “Um, pardon me, how much should I put on the 6?”. Let’s look at the answers. DO wait until you have the dealer’s attention before putting your chips on the table. As soon as the come-out roll is made, the casino then automatically turns on all Place bets so they’re all working again. You know the odds and place your bets with confidence. In this scenario, assume the table minimum bet is $5 and the maximum odds allowed are 10x. While picking up all your chips, you shout, “Yeah, baby, I love these green chips!”  The dealer turns the puck OFF and puts it on the side of the table. Your payout is calculated by subtracting the amount of winning dollars from the total pool, then dividing the remaining pool by the amount of cash bet on the winner, and finally adding back in the winning bet amount. Very good! The Place Bet is similar to a Pass/Come bet, if you’re betting on one of the numbers 4,5,6,8,9, or 10 to be rolled before the 7 is rolled.The difference is you get to choose which number. Don’t forget to pick them up and put them in your chip stack. A Place bet is a manner of horse racing betting that requires the bettor to select a single horse in the race to finish in either first or second place. Suppose you make an $18 Place bet on the 8. Player #1 has Place bets on the 9 and 10. Some dealers are taught if a player doesn’t say anything, the silence indicates that the player wants to make the same bet (i.e., “same bet” means the player wants the dealer to pay the winnings, and keep the same Place bet amount up and working). That means, for every $5 you bet and win, you win $9. I never use this approach because I always want my chips physically located in the box for the number I’m Place betting. If you need to review our other article about basic craps math, now is a good time to do it. Sure, placing a bet is easy enough but that is why most race goers walk out with less money than they came in with. Except for self-service bets, never put chips on the table without the dealer knowing they’re yours. “Winner, winner, chicken dinner!”  You high-five everybody at that end of the table. Thus, moneyline odds are also commonly referred to as American odds… They want to make smart bets, win 60-70 percent of the time, and move on to the next bet. Just before it’s your turn to be paid, you tell the dealer, “Same bet, please.”  The dealer pays your winnings by placing $7 in chips in the apron directly in front of you. Since this is the come-out roll for a new game, all of your Place bets are automatically considered off. The most common type of bet is a single, but bettors can combine different bets into one and place a multiple bet - this can be a double, treble or any other multiple (four or more bets … You think, “I’m going to show these babes just how good I am.”  With the dealer’s attention, you drop $17 in chips in the Come box and say, “Give me the rest of the inside numbers, please.”  Since you already have a Place bet on the 9, the dealer takes your chips and knows you want $5 on the 5, $6 on the 6, and $6 on the 8. You also drop $12 in chips in the Come box and tell the dealer, “Give me the six and eight, please.”  The dealer takes your chips and puts $6 on the 6 and $6 on the 8. The answer is $15. Except when you Place bet the point as described above, the dealer moves all players’ chips to the appropriate positions in the point boxes. For example, you can see from the table above if you Place bet the 6 for $30 and win, your payoff is $35 compared to the true-odds payoff of $36, which makes the house advantage only 1.52%. The amount paid on the bet is unequivocal, (i.e. Before you even begin to place a bet, you need to know what the odds are of the particular bet you want to make. The shooter rolls a 10; therefore, the point for this game is 10. Notice how their chip is centered perfectly on top of the back line of the Pass Line. Since everyone roots for a 7 to show on the come-out for Pass Line bets, the casino automatically turns off all the Place bets for the come-out roll. Simply put your chips in the Come box in front of you and tell the dealer to Place whatever number(s) you want. You make a $5 Flat Pass Line bet. 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