Calculating Wins using House Edge
The best way to understand gambling games how the house edge applies to craps is by reading and applying an example. The Pass Bet, one of the most popular in craps, has a house edge of about 1.41%. Thus, if a player wagers $10.00, the player can expect that the casino will get about $0.15; this is true of every $10.00 wagered. It may not seem like much, but players need to remember that the house edge applies to each and every bet over the course of hours of gameplay.
In order for a player online casinos to get a good idea of the amount of money they will lose over any given point in time, they must first calculate the number of wagers they are likely to place during an hour of gameplay. For instance, if a player makes six $10.00 bets per hour, using the calculation in the paragraph above, that player can expect to lose about $0.90 an hour. Of course, the higher the bet, the higher the anticipated losses will be. Keep in mind that this is a best-case scenario and most players will lose much, much more.
Craps is a game that provides players payouts with many different options for placing bets, so the house edge can fluctuate a great deal based upon how a player chooses to proceed. For instance, if a player bets on doubles, the house edge is much higher because the odds of winning the bet are low. Pass Line bets are always a great option as these have one of the lowest house edges in the game. Always remember that craps is a game of luck and no amount of skill can impact the house edge--it will always exist.
Players who want to get the most from online craps should understand the sports betting house edge associated with the game. By carefully examining the amount of money they can expect to lose, players may be able to make better-informed decisions.