Calculating the House Edge for Place Bets
Friday September 5, 2008
Casinos make their money by collecting a small amount on each bet. This is called the house edge and it is the difference between the amount of money the casino pays you when you win a bet and the true mathematical odds of winning. Each casino bet has a different house edge and players often wonder how it is calculated. Here is how to calculate the house edge for the Craps place bets.