Place Bet Odds

Using the +120 odds, it shows us that a $100 bet on that outcome would pay out $120 in profits. Again this can easily be converted into smaller or larger size bets. A $10 bet on +120 odds would pay out $12 in profits. Examples: Below is an example of NFL betting odds taken from an online betting site. Choosing to place bets with MyBookie ensures risk takers are betting at a legitimate sportsbook featuring an easy to reach customer service department should any problems occur. MyBookie also has a moderate amount of ways to deposit and withdraw funds making this one of the best value sites to bet on which political party will be in control of. Odds Shark aims to become the global authority for online sports betting odds, whether it be in sports betting, poker, casino games or horse racing. To that end, it continues to add new football betting lines for NFL fans and new college football odds on all games for players who bet more on Saturdays than Sundays. Jun 21, 2013 But, if your selection is 9/2 or less and the favorite is lukewarm odds of 8/5 or higher, a place bet or win-double-place bet can be a solid alternative to win betting. One that offers a good chance of making a profit while at the same time reducing your risk.

Types of Craps Bets

These bets are somewhat simple. There are actually two different types of place bets. One is called place bet to win and the other is place bet to lose. Essentially, these are bets that may be wagered at any time during the round. The numbers that can be wagered on are 4, 5, 6, 8, 9 and 10. If you wager a 'place to win' bet, then you must roll that number before rolling a seven. If you make a 'place to lose' bet, then you must roll a seven before rolling that number.

The payouts are actually quite good in this bet. In fact, they are nearly the same as true odds but usually slightly less. The actual odds of throwing a 4 and 10 are 2:1, the odds for 5 and 9 are 3:2 and the odds of throwing 6 and 8 are 6:5. The payouts are 9:5 for rolling a 4 or 10, 7:5 after rolling 5 or 9 and 7:6 for rolling a 6 or 8. As you can see here, the payouts are slightly lower than true odds. The house edge for place 4 and place 10 is 6.67%, the house edge for place 5 and place 9 is 4.00% and the house edge for place 6 and place 8 is a very nice 1.57%.

I tried to provide a screenshot of different place bets below. The first thing to do is look for the top roll with the numbers 4, 5, 6, 8, 9 and 10. Above and below each of these numbers are spots labeled 'lose' and 'win' along with the payout for each 'place bet'. These are where you make your different place bets on the craps table layout. One thing to remember is not all casinos offer these bets. Many online casinos do but many land based casinos do not. Also, the odds can be slightly different depending on the casino rules.

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Place - Your horse must come in first or second.

Next to the win bet, the Place wager is one of the oldest and most traditional. With a place wager, your horse must finish first or second. The wager pays the same whether your horse wins or not.

Place and Show bets are much more conservative , as you are giving yourself room for error since your horse can finish first or second, or first, second or third in case of show. However this means that the payoffs are a bit lower since you are sharing the place payoff with another horse or two. They are are most commonly used along with other wagers, such as 'win and place', 'across the board' or 'win, place, and show', or 'place and show'.

Place payoffs and results
Place payoffs typically pay between $3.00 and $10.00, but can pay more with longshots and less with overwhelming favorites. Since the money you win in a place bet is generated by all of the money bet on the losing horses, the more horses in the race the greater your chances for a larger place payoff.

Reading the Tote Board
One important distinction is that the Place pool is an entirely different pool than Win. This means that horses may be bet differently in each of the pools. In a place wager, because you don't know which other horse will place, it is difficult to predict your potential place payoffs. But, by comparing the place dollars to the win dollars, you can check the percentage of dollars on your horse to place.

For example, looking at the #1 horse below, we can see that he has approximately 10% of the win pool, with $2,011/$20,000 = 10%. If we use the Win odds to as a yardstick, we would expect that the #1 would have about 10% of the Place pool bet on him, or $1,000 of the $10,000 Place pool. However, we can see that #1 has only $622 bet to place, or closer to 6% of the pool. This means that the #1 is paying better odds in the Place pool. The #1 is 8-1 to Win, but he is being bet like a 14-1 in the Place pool and will pay more accordingly.

Place Bet Odds Craps

This is like bargain shopping, when we get the value of a larger payoff when it 'should' offer a lesser payoff. The 'should' is based on the assumption that the Win odds are more correct that the Place odds. This is a logical assumption, however, since the Win odds are easier to see and more attention is paid to them, it is more likely that the Win odds are a truer reflection of the horse's chances. Keep in mind that if the #1 wins he will still pay more to win than to place (because Place has to be divided with another horse), but the #1 is a good value in the Place pool. In this case, it might make sense to bet the #1 only to Place.

Crap Table Place Bet Odds