This post is necessary for the Real Craps Game video that will come this Thursday.

A few people have asked about more high stakes videos. Well, this Thursday, I will be posting a high stakes craps game that involves put bets. At first, I was going to do another high stakes video involving pass line+odds or come+odds. When it comes to high stakes bets, I refuse to give up too much advantage to the house.  The problem with the RoadGambler method of play is that I’ve already done it three times on video; it was time for something new.

At the same time, as few people on various Facebook groups were asking about put bets. That’s where I hatched the idea of a put bet video.

It is time to put out another high stakes game while also answering the question of, ‘what is a put bet?’

For the very short and simple explanation, skip to the very end.

WHAT IS A PUT BET?

A put bet is simply a pass + odds or come + odds combination where the player gives up the advantage of the come out roll. That’s all there is to it.

Here is a pic from the upcoming game. This is $5250 worth of put bets. Like I said, it’s going to be a high stakes game with yours truly playing it out for your entertainment.

For reference, the pass line or come bet portion of the bet is known as the ‘flat’ because it pays even money.

Here is a close up that breaks up and shows the flat and odds part of the bet…

With standard pass+odds and come+odds betting, the player has a 2 – 1 advantage on the flat bet on the come out roll. On a put bet, the player gives up this advantage.

Reasons why Players May Prefer Put Bets

Players typically prefer put bets (over pass+odds or come+odds) for the same reason players prefer place bets.

Some players hate to see numbers rolled and not be paid.

Also, with a put bet, the player can select which number to bet and ‘put’ that number. Players who believe in ‘trends’ value the ability to select the number as a great advantage.

With a come bet, the player does not select the number; rather the dice selects the number.

WHEN TO USE PUT BETS OVER PLACE BETS

The following is the break even point for a put bet and place for each point is as follows..

  • Point of 6 or 8, 5x odds
  • Point of 5 or 9, 4x odds
  • Point of 4 and 10…
  • —If the commission is paid after the win, the player needs 19x
  • —If the commission is paid before the win, the the player needs only 6x odds

(source: Wizard of Odds)

Note that the above is only true if the player has his or her odds working 100% of the time. If the player does not work the odds 100% of the time, the multiplier is higher.

Here is what I mean by the ‘break even point’…

On a place bet of 6 or 8, a $30 win on either number pays $35

On a put bet of 6 or 8, a $30 win on either number also pays $35.

Both bets pay exactly the same amount.

On a put bet of 6 or 8, the $30 bet is broken down into $5+$25. In such a bet, the flat pays $5 and the odds pay $30, for a total of $35.  Remember that for this break even point to be true, the odds must work 100% of the time.

Example of Why a Put Bet Can be Better than a Place Bet

Let’s say the point is 6.

  • Place bet for $60
  • —win will pay $70
  • Put bet of $60, which is broken into $5 + $55 (11x odds)
  • —the payout on a win will be $5 on the flat and $66 on the odds, for a total of $71

So on the same bet, the player wins an extra $1 for the same win-loss conditions as a place bet.

Let’s use a higher multiplier than 11x. Let’s assume the player is a high roller and plays on a 100x max odds table.

  • Place bet for $600
  • —a win will pay $700
  • put bet of $600, which is broken into $10 + $590 (59x odds)
  • —the payout on a win will be $10 on the flat and $708 on the odds, for a total of $718

So on the same $600 bet, the player wins an extra $18 for the same win-loss conditions as a place bet.

Let’s do another example with another point.

Point of 5

  • Place bet for $100
  • —win will pay $140
  • put bet of $100, which is broken into $10 + $90 (9x odds)
  • —the payout on a win will be be $10 on the flat and $135 on the odds, for a total of $145

So on the same $100 bet, the player wins an extra $5 for the same win-loss conditions as a place bet.

Let’s use a higher multiplier for the same point of 5. Let’s assume the player is a high roller and plays on a 100x max odds table.

Point is 5

  • Place bet for $500
  • —win will pay $700
  • put bet for $500, which is broken into $10 + 490 (49x odds)
  • —the payout on a win will be $10 on the flat and $735 on the odds, for a total payout of $745 

So on the same $500 bet, the player wins an extra $45 for the same win-loss conditions as a place bet. This means the player receives an extra $45 for doing nothing more than ‘knowing’.

This is another reason why 100x tables are so powerful. Many players argue that 100x odds games have no inherent advantage because, in the end, the 100x bettor and the $5 low roller will have the same, realized loss. But a 100x max odds table allows for players to ‘put’ higher odds, which results in winning extra money for doing nothing more than having knowledge.

Why It’s Important to Know the Break Even Multiplier 

If you go below the break even multiplier, you are better off placing the number.

The following is an example of why…

Point is 5

  • Place bet for $30
  • —win will pay $42
  • put bet for $30, which is broken into $10 + $20 (2x odds)
  • —the payout on a win will be $10 on the flat and $30 on the odds, for a total payout of $40

So on the same $30 bet, the player loses $2 on the put bet because the multiplier was not high enough. That’s why it’s important to know the break even multiplier.

If you are in doubt, then go with this imperfect rule across the board: your odds must be at least 5x in the points of 5, 6, 8, and 9 and do not put the 4 and 10. It’s not a perfect rule, but it will prevent you from losing too much.

HOW TO MAKE A PUT BET

To play the put bet, tender your chips in the same way you would tender your chips for a place bet and say that you want to put the number.

The result of you saying ‘put’ is that the position and stacking of your chips should look like a come bet.

You can put multiple points. If you put multiple points, it would avoid confusion (and is polite to the dealer) to cut out your individual puts first. For example, if you’re placing 6 and 8, you can just tender $120 in one stack.

But if you put 6 and 8 for $50 each, cut your chips into two $50 stacks.

WARNING: if your bet is positioned and stacked like a place bet, then it’s a place bet. You will be shorted on the payout if you do not verify that it is a put and not a place bet.  Just for reference, here is what your put bet positioning should look like…

To make sure, ask your friendly dealer, is that a ‘put bet or a place bet?’ I generally do not like yes or no questions in this case because the casino environment can be loud.

DOWNSIDE TO THE PUT BET

There are three major downsides to the put bet.

The first downside is that sometimes dealers are not familiar with put bets, and here can be confusion about what to do. You will see an example of this a couple of times in the put bet videos.

The second downside is that many casinos, where it would be advantageous to use put bets, do not allow put bets. That’s really the main problem with put bets. They’re hard to find.

The third problem is that put betting requires a rather stout bankroll to play for any period of time.  Players on a limited bankroll – such as $100 – are not going to be able to use put bets, unless they want to have a very short stacked bankroll.

Addendum:

Reader Henry S. asked two great questions about the put bet that requires me to add this downside, especially if you’re the type of player who likes to move his or her place bet around.

The put bet is treated exactly like a pass+odds and come+odds combo. The player can call off or take down the odds portion of the bet, but the flat is a contract bet.

Similarly, if the player wishes to move their put bet number to another number, the player must pay for the flat portion of the new number. The ‘old’ number would then have a name flat bet with no odds, and the player would play it out as it it had no odds.

Without spoiling too much of what is to come in the videos, you will see this in action in Part 2. It will become very clear.

ROADGAMBLER THOUGHTS ON THE PUT BET

I prefer pass and come bets to the put bet.

Mathematically, pass and come + odds are still a better play. For the players who absolutely insist on the place bet, if the casino allows put bets, and the player is playing high enough of a multiplier, there is little reason to not use the put bet.

TL;DR

Put bets are simply the pass+odds or come+odds combination bet where the player foregoes the come out roll. The bet is paid exactly like how a pass+odds or come+odds would be paid.

The casino has the advantage on the flat bet portion of the put bet, but on the odds portion of the put bet, there is no house edge.

That’s it!

If you’re still confused, you will be able to watch actual putt bets in action this coming Thursday.

In the meantime, if you have any questions or comments, feel free to drop them in the comment section below.

Posted in: Craps, Gambling

0 thoughts on “Craps: Put Bets, Put Bets! Your Guide to Put Bets

  • So a put bet on the 6 and 8 with 10x odds has a lower HE of 1.52%? Nice.

    Put betting would have been nice for that dude betting 1800 across. Lol.

  • Can one ask to take down a put bet similar to a place bet? Or does the flat portion have to remain just like a cone bet?

    Also, can you change the number associated with the put bet? With a place bet you can say, “move my 6 to the 8”.

    Thanks,

    • This is a good question.

      The put bet is treated exactly like a pass+odds or come+odds bet. The flat portion is a contract bet and cannot be take down. The odds can always be taken down.

      And yes, you you can move it around, assuming you pay for the extra flat portion. Of course, that costs extra. That’s another downside to the put bet.

      Thanks, Harry, great question.

      Let me add that fact as an addendum to the main article.

    • Yes.

      A put bet can be made at any time. If you want a put bet before the come out, be sure to clarify that you want the odds working, or else the odds portion of the put bet will NOT work.

      Most players who make put bets make them like place bets, meaning they wait until after the come out roll.

  • I think one would prefer put bets if they didn’t want points of 4 and 10 established via come bets.

    RG, what is your mindset about getting a 4 or 10 as a point? Some dread it, knowing that you are a 2 to 1 dog, even if the odds pay 2x. Do you have a favorite point that you look forward to?

    • I like the 4 and 10 as points.

      Sure, you’re a 2-1 underdog, but the payout balances it out. For people who hate the fact that it’s 2 losses to 1 win, I tell them to go opposite side and lay the 4 against the 4/10. The response I get is that you’re only paid half of the bet…yea, but you’re then a 2-1 favorite. You can’t have your cake and eat it, too.

      I don’t really have a favorite point, although, I’m partial to the 6 and 8.

  • In your description of putting the 10 you say it takes 19x if the commission is paid on a win only and is only 6x if you pay up front. that sounds contrary to me. sounds like it would be the same as buying a ten when the house edge is only 1.67 on awin only pay and over 4 on a commission up front. sorry im confused about the reasons why.

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