Re: Craps Noobie
ok, I don't want this thread to start again, but just be aware of something. Yes, techincally you are lowering the house advantage of ALL of your action when you place an odds bet, but it's only because you are wagering a large sum of money that is an even money wager behind what is a small negative wager in front.
It makes no difference whether you take odds or not. I personally do it cuz I'm an action junkie and I like the idea of getting to make a bet that does not favor the house.
But yes, if you can afford it, go ahead and take odds.
But don't be fooled into thinking that you are now gambling smarter or something by taking odds.
A little example
pass line $100 with no odds. long run, you lose $1.41
house advantage= 1.41%
pass $100 with $500 behind. long run you lose 0 on the odds bet and $1.41 on the pass line= total $1.41
house edge=1.41/600= .24%
So yes, you "lowered" the house edge but as far as how much you lose long run it's still the same. In fact, if anything, it raises your variance and so you run the risk of going broke sooner.
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