A “Place Bet” is a type of betting strategy used in the game of craps. In craps, players wager on the outcome of the roll of a pair of dice. A Place Bet is a bet that a specific number (4, 5, 6, 8, 9, or 10) will be rolled before a 7 is rolled.
Here’s how a Place Bet works:
1. **Making the Bet**: After the come-out roll (the initial roll of the dice to start a new round), a player can make a Place Bet on any of the numbers mentioned above. The bet is made by placing chips directly on the corresponding number on the craps layout.
2. **Winning the Bet**: If the number on which the player has placed the bet is rolled before a 7, the bet wins. The payouts for each number are as follows:
– 4 or 10 pay 9:5 (for every $5 bet, the player wins $9)
– 5 or 9 pay 7:5 (for every $5 bet, the player wins $7)
– 6 or 8 pay 7:6 (for every $6 bet, the player wins $7)
3. **Losing the Bet**: If a 7 is rolled before the number on which the player has placed the bet, the bet loses.
Place Bets are considered good bets in craps because they have a relatively low house edge compared to other proposition bets. However, the house edge is still present, and over time, the casino will have an advantage. Players often use Place Bets as part of their overall betting strategy to manage their risk and potentially win smaller, more frequent payouts.