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One of the bets that exists in craps, but is not very commonly or frequently used, is the Place to Lose bet. The Place to Lose bet in craps is the exact opposite of the Place bet in craps, also called the craps Place to Win bet. This bet enables you to win if the shooter rolls the number 7 ahead of the number you bet on. You will also not find too many casinos, online or traditional, offering this bet at their tables.
This bet is not very popular among craps players, because most of them, close to 90%, prefer to roll with the dice rather than bet against it. Not only that, experienced craps players who have sound knowledge of the different bets and how they work seem to prefer the Don’t Come or Don’t Pass Line bets to the Place to Lose bet in craps.
To make the craps Place-to-Lose bet, you need to tell the dealer this is the bet you want to place. The dealer then places your chips directly at the box designated for placing the chips just above the number you have chosen to make your craps Place to Lose bet on. That number is now referred to as the Place number.
You can make the wager whenever you want; however, the wager does not become active until a point has been established. When you win a craps Place to Lose bet, you have the option of leaving your chips on the craps table, so that it becomes the amount for the next wager, or you can collect your winnings and remove the chips from the table. You also have the option of retaining a portion of your winnings on the table so that becomes your money for the next craps Place to Lose bet.
The odds of winning when you make a Place to Lose bet in craps vary, and depend mainly on the number that you are looking to bet on. The payout ratios also vary for the different numbers. In this section, will briefly mention the payout ratios associated with some of the numbers on which you may place a craps Place to Lose bet.
If the number you have bet on is 6 or 8, the payout ratio is 4 to 5 and you must bet in multiples of $8, which means a house advantage of just 1.82%. If the number that you choose to make your Place to Lose bet on is 5 or 9 the payout ratio is 5-to-8, and you would need to bet in multiples of $8 for either of these numbers to lose, which means the house has a 2.50% advantage. If the number if 4 or 10 the corresponding ratio is between 5 and 11 and you would have to bet at least $11 or multiples of this value to win, thereby giving the house a solid 3.03% advantage.