Types of Bets
The Pass Line
The Pass Line is an even-money bet, before the come out roll, you place your money on the area that says “Pass Line”. If the come out roll is 7 or 11 you win, if the come out roll is 2, 3, or 12 you lose. When a point is established and that point is rolled again before a 7 is rolled you win your wager.
Buying the Odds or Buy Bet
Once the point has been established, you can bet up to twice your original pass line bet on the Odds. The odds are another bet that the point will be rolled before a 7 is rolled. The probability of the point being rolled before a 7 is less that 50% you will be paid more if you win.
Don’t Pass Bar
You are betting the opposite of Pass Line. If you throw a 7 or an 11 on the first roll it's an automatic loss, and you win if the dice sum 3 or 12. A 2 is called a Stand Off or Tie and you neither win nor lose*. However if you roll anything else besides 7, 11 or "Craps" then you make a "Point". If this happens, then it's the exact opposite of Pass Line. This means you are now betting to win that you will throw a 7 before the number you just rolled (The "Point").
*Depending on house rules, some casinos use the 12 as the stand off or Tie number.
Laying the Odds
Just like Don’t pass is the opposite of Pass, Laying the odds is the opposite of Buying the odds. With the probabilities on your side, your win amount is reversed from Buying the odds.
Come
It is an even money bet. The only real difference between the Pass Line and the Come Bet is that you make a come bet after the point has been determined on the pass line. After you make a come bet, the first roll of the dice will establish the come point. If a 7 or 11 rolls, you are an automatic winner. But if you roll 2, 3, or 12 on the first roll, you lose. An important point to remember if you are playing the Come Bet is that if a Point is thrown and there are still active Come bets on the table waiting for a different Point then special rules apply for the following Come out roll. The Come out roll will still apply to active Come bets but it will not apply to their respective odds bets. In the event a Come bet is resolved on a Come out roll then the odds bet will be returned, while the original Come bet will be lost.
Come Odds
Works the same as Buying the Odds and the payouts are the same as the Pass Line odds.
Don't Come
Don't Come bets are almost the same as the Don't Pass Bar bets, but are made after you make a wager on a Don't Pass Bar, and a Point is rolled. You can then back up your bet by laying (betting against the shooter) the odds on the Point.
Don't Come Odds
You are now betting additional money that you will roll a 7 before the "Point" number. If it does, you win. An odds bet is placed in the tiny space directly under your Don't Come bet within the narrow, uppermost bar over the box that corresponds to the come point: 4, 5, Six, 8, Nine, or 10. A winning Don't Come odds bet pays true odds. An unresolved don't come odds bet may be removed.
Place Bets
Place bets are made on the numbers 4, 5, 6, 8, 9 or 10 and have nothing to do with the Point number. Place bets are turned off when they have an OFF marker on top. If a 7 is rolled before your Place number you lose. If your Place number is rolled before a 7 you win.
A Place Lose Bet
A Place Lose bet is a bet that 7 will be rolled before either 4, 5, 6, 8, 9, or 10. A place lose bet is placed in the narrow, unlabeled bar located just above the box with the corresponding number on the craps table: 4, 5, Six, 8, Nine, or 10. Winning Place Lose bets are paid according to these default ratios:
Buy Bets
Buy bets are made on the numbers 4, 5, 6, 8, 9 or 10 similar to Place bets but with different (true) odds. Again you are betting that the shooter will roll your number before he/she rolls a 7. A Buy bet is determined in the following manner. If a 7 is rolled before your Buy number you lose. If your Buy number is rolled before a 7 you win. On Buy bets the casino charges a five percent service charge on the value of your bet in multiples of $1 (a $10 bet will cost you $11). Because of these payouts you must pay attention to wager the correct amounts in order to receive the correct payout. The casino rounds down on uneven payouts.
Lay Bets
Lay bets are the opposite of Buy bets. You are betting the shooter will roll a 7 before your Lay number of 4, 5, 6, 8, 9 or 10. If your Lay number is rolled before a 7 you lose. If a 7 is rolled before your Lay number you win. Because of the nature of these payouts you need to pay special attention to wager the correct amounts in order to receive the correct payout. The casino rounds down on uneven payouts. Same as with Buy bets the casino charges a five percent service charge. However, now the charge is based on your potential winnings in multiples of $1 (a $40 bet on the 4 would pay $20, 5% of $20 is $1, so it will cost you $41).
Big Six or Big Eight
Big Six or Big Eight bets pay even money if you win. If a 7 is rolled before a 6 or an 8 you lose. If a 6 or an 8 is rolled before a 7 you win.
Hard Four Bets or Hard Ten
Hard Four or Hard Ten bets are two different bets, but are won in a similar manner and are paid out in the same manner. Hard Four can be rolled only one way (2, 2), and Hard Ten only rolled one way (5, 5). You are betting that the shooter will roll a Hard Four or a Hard Ten (whichever you have chosen) before seven, and before any other combination of four or ten. They both pay 7:1.
Hard Six or Hard Eight
Hard Six or Hard Eight bets are two different bets, but are won in a similar manner and the payout is the same. Hard Six can be rolled only one way (3, 3), and Hard Eight only rolled one way (4, 4). You are betting that the shooter will roll a Hard Six or a Hard Eight (whichever you placed your bet on) before a seven, and before any other combination of six or eight. They both pay 9:1.
Proposition Bets
Proposition bets are one time bets that are won or lost depending on the outcome of the next roll of the dice, once the bets are placed on the table.
Field Bets
Field Bets are popular because seven possible outcomes will win (2, 3, 4, 9, 10, 11 or 12), while only four (5, 6, 7 or 8) will lose. This bet usually pays even money but depending on the house rules sometimes a casino will pay 2:1 or 3:1 when a 2 or a 12 is rolled.
Any Seven
Any Seven bets are made when you bet that the next roll will be a 7. The payout is 4:1.
Any Craps
Any Craps bets are made when you bet that the next roll's outcome will be a 2, 3 or 12. The payout is 7:1.
Horn Two
Horn Two bets are a one time roll bet that the shooter will roll a 2. The payout is 30:1.
Horn Twelve
Horn Twelve bets are a one time roll bet that the shooter will roll a 12. The payout is 30:1.
Horn Three
Horn Three bets are a one time roll bet that the shooter will roll a 3. The payout is 15:1.
Horn Eleven
Horn Eleven bets also known as Yo-Eleven. Here you bet that the dice will come out with a 11 on the shooter's next roll. The payout is 15:1.