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From Bill Burton, for About.com

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.

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