Question by Guy: Where can I find the highest craps odds in Vegas?
I heard casino royale offers 100x odds but i dont know if im looking at old information.
Answer by sandynlily
The odds do not effect the house advantage in way that is beneficial to you. This happens because the house edge is based on your expected dollar loss as a percent of the TOTAL amoutn of money wagered.
Money placed as your initial bet has a negetive EV, and represents a begetive expected dollar loss, however, money placed as odds has neither a winning expectation, or a losing expectation, and has a house edge of 0.00%
Basically when you take odds, you increase the total amount of money put onto a bet which reduces the calulated house advantage, however, the expected dollar loss per bet, is exactly the same, no matter how much you place as odds.
Your expected dollar loss happens to be 1.41% of your initial bet for bets on the pass line, and 1.40% of your initial bet for bets on the dont pass line, any additional money placed as odds is exposed to a house edge of 0.0% and does nothing for your long term losing expectation.
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