Craps Buy Bets Payout
Craps Bets. Buy Bets. The Buy bets are another way for a right bettor to cover the point numbers. These Craps bets can be made at any time. Buy bets can be pressed (increased), reduced or taken down (removed) at any moment prior to a roll. They work the same way the Place bets do, but the payoffs for the Buy bets are made at the correct. As mentioned previously, Buy bets are some of the most favorable in craps where odds are concerned. Unlike many of the other betting options, Buy wagers pay true odds, meaning that you receive a payment equal to the probability of winning the bet. This is the best possible ratio that you can get at any casino game.
CRAPS PAYOFFS - Craps Payout Chart. CRAPS WAGER: PAYOFF: Pass Line: 1 to 1: Don t Pass: 1 to 1. Buy Bets: 4 and 10: 2 to 1: 5 and 9: 3 to 2: 6 and 8: 6 to 5: Lay. Buy bets (Y) function in the same way as place bets with one exception. Buy bets are paid at true odds, but a 5% commission is charged on the amount of the bet. Like Place bets, Buy bets are considered working bets, and will continue to be paid out each time a shooter rolls the Buy point number. The 4 and 10 pay 9-5, true odds 10-5, yielding a house edge of 6.66%. The 5 and 9 pay 7-5, true odds are 7.5-5 (house edge 4%). The 6 and 8 pay 7-6, true odds are 6-5 (house edge 1.51%. Player pays 5% 'vigorish' to get true odds on all numbers. Only the 4 and 10 make buy bets worthwhile. They reduce the house edge to 4.76%.
Buy 6 & 8 pays 23 to 21, when the commission is always paid.
Buy 6 & 8 pays 23 to 20, when the commission is paid on a win only.
When the commission is always paid, isn't that why the bet =$21? $20 for the bet + $1 up front for the commission?
If so, shouldn't the win amount be $24? Shouldn't it pay 24 to 21?
I'm wondering because that's what I think when I see the 2nd line, and it seems to have a $20 bet with a $23 payout ($24 for the actual payout less the $1 commission charged when the bet wins).
What am I missing?
Edit: the same applies for the 5 & 9, and 4 & 10 buy bets
I'm only familiar with Las Vegas, but for what it's worth, the only thing you ever buy around here is a four or a ten. I've (very rarely) seen buys on the 5 and 9, but the other buy bets (except for 'SHOOT TO WIN' aka 'bubble craps') are very rare here.
I would agree that quote is the practical, real-world advice. Don't Buy anything but the 4 0R 10, if possible avoid paying a commission up front, but remember its likely to be charged when you win.For the math involved, sure go to a craps machine, but at a real world table with live dealers, they will probably tell you its better for you to Buy the 4 and 10 and to PLACE the 5 and 9 as well as the 6 and 8. If they don't tell you this its probably a fast table.
It says buying the 4 and 10, when vig has to be paid up front, will pay 39 to 21;
and when buying the 4 & 10 with vig paid only when it wins is 39 to 20.
I believe the 2nd one, pays 39 to 20 when vig paid on a win, but the first line looks to me like it should be 40 to 21? $1 vig paid up front then 2:1 when it wins. Should it be 40:21 or 39:21?
P.S. Believe me, the only numbers I would buy are the 4 and 10, but I'm just looking at the math on a chart from a website, and it just looks like something is off. It's about 2/3 of the way down on: wizardofodds.com/games/craps/
If the vig is paid up front, you have put $21 at risk, so the payout is “to 21.” If it wins, you are paid $40 on the $20 you had on the felt, but you must deduct that $1 you paid up front. You won a net $39 (just as in the paragraph above), but in this case it was “39 to 21.”
Ratio of the net win on a win to the total loss if you had lost.
If the vig is paid up front, you have put $21 at risk, so the payout is “to 21.” If it wins, you are paid $40 on the $20 you had on the felt, but you must deduct that $1 you paid up front.
This only applies if one is trying to calculate the ev or house edge of the bet
The Wizard's table says PAYS
Ratio of the net win on a win to the total loss if you had lost.
sure, only useful if computing the ev or the house edgeBut for PAYS, I also agree the bet PAYS 40 to 21.
In my opinion here, JB and / or the Wizard have attempted to simplify this as a one fits all value.
(This was also done in the Craps Games V2)
It does not in my opinion
sure, here is my proof
B = Bet (NOT total $ given to the Dealer)
first example
The *PAYS* on a winning Hard 6
9 to 1
or
9*B to 1*B (divide both sides of *to* by B and get 9*1 to 1*1 or 9 to 1)
The *PAYS* on a winning Buy 4 vig paid up front (probably the most common found on this planet Earth)
pays 2*B duh
$ given to dealer = B + (B*.05) remember for this $20 Buy 4 fits all example
2*B to B + (B*.05)
now (B*.05) = B/20
(B*(5/100))
2*B to B + B/20
multiply each term by 20
2*B*20 to 20*B + (B/20)*20 =
40B to 20B +B =
40B to 21B
and
divide both side by B (see the first example)
40 to 21
so also
40/21 to 1
still this $20 fits all example
more work could
Craps Buy Bet Payout
be done on this to make the Wizard of Odds Buy Bets the LAST words on Buy bets :)just my opinions
Craps Lay Bets Payout
Craps Buy Bets Payouts
SallyA.) The entire $21 is forfeit (standard commission rule)
B.) The $20 bet is lost, with the $1 commission returned (Commission when you win)
When in outcome A the risk is $21 and the return is zero for $21.
When in outcome B the risk is $20 and the return is $1 for $21.