Today's lesson is paying a 3 way bet.
There are several forms of a 3 way bet and the most common is the 3 way craps. Under most circumstances someone will toss the stick-man $3 and say Tree Dolla Tree Way Craps (well, maybe only people who leave near Josie will actually say it like that).
A "crap" is defined as the 2, 3 and 12. So a $3 three way crap is essentially placing $1 on the 2, $1 on the 3 and $1 on the 12.
Now we have to look at the odds of each bet. Not the true odds, but the odds that the Casino will be paying out.
The 2 and the 12 can only be hit one way (both numbers identical) and as such they have a higher payout. $31-for-1.
The 3 can be hit 2 different ways (die 1 rolls a 2 and Die 2 rolls a 1, or Die 1 rolls a 1 and die 2 rolls a 2). The payout for a 3 is 16-for-1.
So, one of our players tosses in a $3 three way crap and the dice are rolled:
If a 2 or a 12 hits we will pay $31-for-1 minus the original bet, or $28. The reason you subtract the original bet is because a "crap" bet is a 1 roll bet. If you pay the full amount of $31 the players bets will come down. The house doesn't particularly like that so you pay $28 and keep the players money working for one more roll.
If a 3 ends up hitting then you pay $16 minus $3 or $13. (once again subtracting the original bet in order to keep the bet active for one more roll).
Well, what about when people start making larger, crazier bets?
If you can do the math in your head then more power to you, but other people need to be able to have formula's to reach the conclusion once the bets start to get larger.
A $15 3-way-crap is going to have a payout of $140 on the "hard" side (2 or 12).
Both those numbers pay 31-for-1 and all 3 of the crap numbers essentially have $5 on them.
$5x31 minus your original bet ($15 in this case).
$5 x 31 = $155. $155 - 15 = $140.
Easier way to do it.
Take your total original bet and add a zero to the end of it. Then subtract your losing bets (only the number that hits wins, the other two bets are your losing bets.).
so, $15 and add a zero = $150, then subtract your two losing bets of $5 each (or $10 total) and you get $150-10 = $140.
So much easier and quicker than doing multiplication.
How about on a $9 bet and the number lands on 2?
$9 and add a zero for $90 and subtract $6 - $84 payout.
Will be once I have that formula memorized like I do the payouts on the place bets.
Now what if the 3 hits instead of the 2 or 12.
Well, payout on the 3 is 16-to-1.
So for the $15 bet you get $5x 16 and subtract out your action.
$5 x 16 = $80. $80 minus $15 = $65.
Or we have a key of 1/3rd of our bet. Add a zero and then add your total bet back in.
$15 3-way-crap would then look like this.
$5 and add a zero. $50 + original bet of $15. $50 + 15 = $65.
On a $9 bet where it lands on the 3.
$3 and add zero for $30 plus our bet of $9.
keys are a great way to simplify the game and make things easier for you as a stick-man paying out horn bets, World bets, 3-way crap bets and hop bets. Once you memorize and know them inside and out your life becomes so much easier than it really looks.
One last thing.
3 way bets are not limited to a 3-way-craps.
Someone wants to hop either the 6, 7 or 8 - that is also a 3 way bet because there are 3 different ways to make each of those numbers.
For the 6 - 4/2, 3/3, 5/1
For the 7 - 4/3, 5/2, 6/1
For the 8 - 4/4, 5/3, 6/2
In the case of the 7 - a 3 way hop is always going to pay out the low side because there is no "hard" way to make the 7.
However the 6 and the 8 each have two "lows" and one "hard"
Just like with your 3-way-craps the "hard" is going to pay 31-for-1 and the "low" is going to pay 16-for-1.
The only thing that changed is the numbers you are betting on.
Hell yeah it is :)
May all your 7's appear on the come-out and hopefully someone at least read all the words above.
(I only write to help myself learn - I realize that I'll get a lot fewer hits on this type of post and a hell of a lot less comments, but if it helps me learn then screw you guys :)
Confusing to me - makes my head spin. GL with it.ReplyDelete
It's been doing a bit of that to me as well.Delete
However, tonight at work I get to compose a Poker post to keep me awake.
Makes my brane hurt. I hate craps. My first trip to Vegas as a young lad I lost almost my whole bankroll in 5 minutes at a table. I didn't think you could lose 5 times in a roll. Evidently you can. Wanted to drive 500 miles back home that night. I hoping you post how to beat the game so I can become a professional crapper :).ReplyDelete
Yeah - I'll tell you all the secret bets that the CASINOS don't want you to KNOW!Delete
You might have to buy my book reasonably priced at $14.99 though!!!
I noticed you changed the headline on your blog. Who is said man? Is he hot? Rich? Blessed down below? Nice? If so give this man my number! I'll settle for three of the four.ReplyDelete
Oh I see what you mean.Delete
Football and strippers and hookers, oh my!
Just playing with things - wanted something Snazzy.Delete
Also, said man is average, middle aged (35 is middle aged if he only plans on hitting about 70 right?) round, blessed in one way but not the typical way and nice to 4 people and asshole to the rest.
Am I included in those four?Delete
Omg....all I got from that was blah, blah, blah.ReplyDelete
Yeah, you lost me at "3 way." Not the kind of 3-way I'm into.ReplyDelete
But I thought to bet on craps you just bet "any craps" and you got the same payoff no matter which craps # hits?
I'm so confused.
Any craps bet is different and usually has a spot on the table and I believe pays 8 for 1.Delete
So a $3 "Any Craps" would pay $21 (24-3).
So, I'll have to think about which has a bigger house advantage.
I'd like to see someone go mad from this game :)
Thats the problem with craps....there are so many different types of bets to learn, each with a different payout. it takes awhile to learn and I play occasionally, watch often, but still don't know them all....ReplyDelete
Yes, I will not argue.Delete
However, this is also the reason that if you are looking to break into the casino "biz" then craps is the game you should be attacking.
Most complicated game to learn - yes.
However, people are always looking for good craps dealers - Always.
Teach says that right now she's got her contacts getting a hold of her for "10 positions to fill" as soon as some of us are ready.
You don't get that with Black Jack or roulette or whatever.
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