When I’m gambling at the casino and playing craps, I love the place bet on the 6 and 8. If I’m not playing for the camera, I’ll typically bet about $12 max on the place 6 and place 8. If you see me place betting more, then I’m doing it for your entertainment.
I see this comment all the time in my craps videos, paraphrase, ‘why don’t you put a few hundred on the 6 and 8 place bets instead of odds?’
I’ll present this argument for why I do not make such a play: any time a player fails to max odds on the point of 6 or 8, and makes a place bet instead, that player is effectively betting the Big 6 or Big 8.
EXPLANATION OF THE BIG 6 AND BIG 8 BET
To make the Big 6 or Big 8 bet, the player places his chips in the area marked Big 6 or Big 8. The Big 6 and Big 8 bet is a self-service bet, meaning that the player makes the bet on his own.
The Big 6 and Big 8 are two separate bets. The player is not required to bet both the Big 6 and the Big 8. A player makes bet one or the other or both. For example, here is a bet on the Big 8 only…
Once the player has made his or her bet on either the Big 6 or Big 8 or both, the player will win if the corresponding number, that the player bet on, rolls before 7 rolls.
For example, in the picture directly above, if 8 rolls, the player will win, whereas if the 7 rolls, the player will lose. A win will pay even money. Therefore, in the picture directly above, if 8 rolls, the player will win $3 because the player bet $3.
If 6, 8, or 7 does not roll, then the shooter will continue rolling until a 6, 8, or 7 rolls. The Big 6 and Big 8 are multi-roll bets.
If this win-loss condition sounds familiar, that’s because it’s the exact same win-loss condition as the place bet on 6 and 8.
ALMOST NO ONE BETS THE BIG 6 AND BIG 8
If you watch my videos, you’ll almost never see anyone betting the Big 6 or Big 8. I’ve looked for it, and I’ve not seen it. The Big 6 and Big 8 bets are horrible bets. The vast majority of craps players know it, which is why almost no one ever bets it.
As much as I play craps, I see someone betting the Big 6 and Big 8 maybe once a year.
The Big 6 and Big 8 make no sense as a bet because for the exact same-win conditions, you can give your money to the dealer and be paid more money for the exact same win-loss. A $12 bet on the Big 6 pays $12, whereas a $12 bet on the place 6 bet pays $14. With both bets, the bet wins if 6 rolls and loses if 7 rolls.
Even if the player messes up and bets $10, the place bet is still better than the Big 6, in the above case. A $10 place bet pays $11, versus $10 payout for the same $10 Big 6 bet.
Bottom line is that the Big 6 and Big 8 are bets relegated to the player who is a noob and has no idea what they’re doing. It’s such a bad bet that Atlantic City casinos are not allowed to offer it.
Las Vegas casinos are phasing it out because almost no one bets it. Here is a picture of a bet that has been introduced in lieu of the Big 6 and Big 8 bet…
Hopefully, I established to you that the Big 6 and Big 8 are horrible bets. But, did you know that when you are making a place bet, you are effectively betting the Big 6 and Big 8?
THE PRACTICAL EFFECT
If I told you, hey ‘bet your money on the Big 6 or Big 8’, you’d tell me that I was crazy and didn’t know anything about craps. You would tell me that the Big 6 and Big 8 are a stupid bet that pays EVEN MONEY when the chances of losing are greater than the chances of winning. That’s why no one bets it.
However, let’s think about the place bet. Let’s say you make a place bet on the 6. You bet $60 on the place 6. A win would pay $70.
If it were an odds bet, you would be betting $60 to win $72. You are missing $2.
If you think about it, you made a $50 odds bet, and then you made a $10…Big 6 bet. Why? Because the $50 pays $60 and then the $10 pays even money. That’s how you end up with $70 payout on a place bet. The house ‘confiscated’ the extra $2 as a fee, which is how the house derives its house edge.
If the player makes a place bet of $6 on the 6 and $6 on the 8, the same effect remains. The house pays true odds on the $5 portion of the bet and then pays even money on the $1 portion. So the house treats the $1 as if it were a Big 6 or Big 8 bet.
You might say if you can’t just make a naked odds bet. That’s true when neither the 6 or 8 are the point and you are trying to access the 6 or 8 via the pass line or come bet. There’s a cost to the odds bet in that you must make a pass line bet to get to the odds bet. If you bet $15 on a 3,4,5x game, your expected loss is 21 cents on that bet in the long run. Remember, you will win 8 times automatically on the come out roll, so that offsets the disadvantage after the come out roll. That’s why over the long run, you will lose 21 cents for your $15 come bet (note that if the table minimum is less than $15, the expected loss is less).
However, 21 cents is still cheaper than $2, which you would be missing from your $60 come bet.
So, do you want to pay 21 cents or pay $2 for the same bet?
If you insist on making place bets on the 6 or 8, at least max your odds on the point of 6 or 8 before making a place bet. I’ve seen many players decline max odds, and instead place bet the opposite number. For example, if the point is 6, they will take less than max odds on the 6, and then load up place bets on the 8. The player in that case, is better off, in the long run, not place betting the 8 and shifting the place bet 8 money to the odds on the 6.
Alternatively, you are better off in the long run trying to access the 6 and 8 by making come bets and then taking odds on the 6 and 8. This strategy works better if you take odds when the point is 4, 5, 9, 10. If you decline the odds when the point is 4, 5, 9, 0r 10, then you must do a loss analysis and compare your play versus simply place betting. Also, this strategy works best on a table with a higher odds multiplier, and you are willing to bet the higher odds multiplier.