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The craps Place Bet is among the most liked and popular bets in craps. This bet is very similar to the Come bet. The difference between the two is minor – while you place the Come bet in the Come line, you place the money on the small box behind the appropriate number in a Place bet, as the name suggests. So, if you opt to bet on the 9, the dealer will position your bet on the 9-box in the table.
The major similarity is that both the craps Place bet and the Come bet require you to bet on the possibility of the number you bet on being thrown by the shooter ahead of the 7.
You can make a Place bet on any number of your choosing in a game of craps. You would place the bet on the table and tell the dealer which number to place the bet on.
For instance; if you wish to place the craps Place bet on the 9, the dealer places your chips on the box next to 9 on the table.
Now, if the shooter throws a 9 before the 7, you are the winner and you can collect the winnings. Once you win, the dealer gives you the option of either continuing the bet or returning it. In response to the dealer’s query of ‘Same bet?, you can ask him to either ‘let the bet ride’, another term for continuing with it, or ‘take it down,’ a term used to indicate you wish not to continue it, in which case the dealer gives you your winnings. You also have the option of using a part of your winnings to double your bet, or ‘Press it,’ the craps parlance for this option.
The odds of winning at craps vary, depending on the number. For instance, if you opt to place a bet on the 9, the odds of winning are not that high, since the house holds a 4% advantage, which is significantly more than the 1.4% house advantage in, say, the Don’t Pass Line bet. Placing a bet on the 5 also entails a similar house advantage of 4%.
However, if you opt to make a craps place bet on 4 or 10, the house advantage rises even more steeply, standing at a huge 6.67%. At the other extreme is the scenario where you make a craps Place bet on 6 or 8; in that case the house advantage is just 1.52%, marginally higher than the 1.4% for a Come bet.