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How to Calculate the House Edges For "Any Craps" Bet

By: Bill_Carton Click author's name for more of his/her articles

Online Craps has a variety of bets that players can play on. However, not all bets have equal advantage to the house and the players. There are some bets are more favourable to the players with less house edge while others bets are the sucker bets, which have higher house advantages.

In order to maximize the chance of winning on each bet, you need to know the correct criteria in choosing the favourable bets. To help you in identifying the correct criteria, you need to know how to calculate the house edges for Craps bets. Off course, the calculation of exact house edge on each type of bet may involve complicated compilation.

In a simple term, a house edge is the percent of a wager that goes to the casino in the long run. This figure sometimes refers as the casino advantage that guarantees a profit to a casino. The higher the figure, the less favourable is the wager for the players. If you want to stay at the maximum chance of winning at Online Craps, you should always bet on the bets with minimum house edges.

Let's explore the simple calculation of house edge for Any Crap bets:

The house edge calculation involves two important factors: the probability and the payout. You need to know these two factors in order to calculate the house edge for Craps bets. In craps there are 11 outcomes (2, 3, 4, 5, 6, 7, 8, 9, 10, 11 & 12) can be generated from the two dices, which can be achieved in 36 different ways. Let's say any craps is 2, 3 and 12. A total of 2 can be achieved in one way when the two dices draw a 1; therefore a probability to achieve 2 is 1/36. A total of 3 can be achieved in 2 ways and a total of 12 can be achieved only in 1 way. Therefore, any craps can be achieved in 4 ways, making it has a probability of 4/36 or 1/9. The common payout for any crap bet is 7 in 1. This means that if you wager $1 and Any Craps is rolled, you will win $7, else you will lose $1.

With the probability and the payout of any craps are known, the house edge for any craps bet can be calculated. In the long run in betting on any craps, a player will win once and lose eight times because the probability for any craps is 1/9. In other words, it means if a player wager for 9 times, every time he bets $1 on any craps, he will win one time and get $7 from casino and lose 8 times to casino that costs him $8; he is making a net loss of $1 to the casino. Therefore, the house edge for any craps bet would be 1/9 (win one, lose 8), if expresses in percent would be 11.11%.

You will know how to compile the house edge for other bets in Craps game, such as "any seven" bet, which can be calculated in a similar way once you know how to calculate the house edge for any craps bet.

Article Source: ABC Article Directory

About The Author: Bill Carton is an online gambling webmaster who provides online betting tips & strategies in playing online casino games. Visit Bill at www.onlinecasinos-review.com for the information & resources on the best online casinos, exclusive bonus offers, and craps winning strategy.