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One of the first things that strike you when going over the craps betting types, is the similarity between the Craps Buy bet to the craps Place bet. For instance, in both the craps Place bet and the craps Buy bet, you bet on the possibility of the shooter rolling the specific number you choose before the 7. However, there is a basic difference between the two types of bets as well, in terms of how you make the bet and what advantage the casino has over you.
You can place your wager anytime you want in a craps Buy bet. All you need to do is give chips worth $20 or multiples of this number together with 5% the dealer for the table. While providing your chips, you need to inform the dealer that your intention is to buy.
At most casinos, the minimum deposit you can make at the craps table is $20 along with the 5% commission for the table. There are some casinos that accept amounts lower than $20 as the deposit amount. In these casinos, however, the commission you pay would still have to be for the $20, though you may actually have deposited lesser. The casino advantage is higher in such cases.
Once you have handed over the deposit amount to the dealer, he places the amount you have wagered, minus the table’s commission, in the box near the number you have bet on.
Another thing about the craps Buy bet that is different from a place bet is after placing your chips against the number you have bet on, the dealer places a ‘Buy’ button on top of them to differentiate this bet as a ‘buy’ from the rest of the bets.
You win if the number you had bet on comes up. Like a Place bet, the craps Buy bet also works only after the come-out rolls. You can also cancel the bet whenever you wish, in which case you get the 5% table commission back.
Once you win, you have the option of taking your winnings and the money you had originally deposited (minus the table’s commission) or letting it ride. If you choose to let it ride, however, you will have to pay an additional 5% table commission to the dealer.
The odds for the Buy bet in craps vary depending on the number you have chosen to bet on. The following is a list of the odds for the different numbers:
The house advantage for all the numbers is a high 4.76%, which works out to almost triple the house advantage you see in Come bets.