By J. Patrick
When you place an "Any Craps" bet, you are betting on the 1-1, 1-2, 2-1, and 6-6 combinations to appear. This bet has a 7:1 payoff, and the chances of it occuring is 8: 1 against you, based 32 ways it can be made. It is possible for you to bet on any of these combinations separately, with the house holding their thumb on your head all the time.
The reason I am going over this breakdown is to give you an option. I use what is called a Three Ways Crap bet when I want to protect my Pass Line and you want to hedge an opposite bet of lesser value to offset the chance of a big loss) against a craps number killing that bet. By tossing two $1 dollar chips to the stickman, and saying "Any Craps", you reduce your profit on this shoot to $13 dollars, if seven or eleven shows. Any other number becomes the shooter's point. If craps shows, you lose the $15 dollar Pass Line bet, but pick up $14 (7:1) for the Any Craps bet you made. I say let's make the payoff better and hedge stronger.
Go back to the beginning. By throwing three $1 dollar chips to the stickman and saying "Three Way Craps, please" you are changing your possible payoff. The following scenarios can happen if craps shows before a point is established:
If a 7 or 11 shows, you pick up a $15 win on the Pass Line bet, and lose $3 on the Three Way Craps bet. This gives you a net profit of $12 on that roll.
If a 4, 5, 6, 8, 9, 10 shows, you lose $3 and that number becomes the point.
If 12 shows (1-1), paying off at 30:1, you lose $17 on the Pass Line bet and the other craps bet, however, you would win $30 on the Two Aces bet. This gives you a net profit of $13.
If 2 shows (6-6), paying off at 30:1, you lose $17 on the Pass Line bet, however, you would win $30 on the Twelve bet. This gives you a net profit of $13.
If 3 Shows (2-1), you will lose $17 on the Pass Line bet and the other craps bet, however, you win $15 on the three craps bet. This gives you a net loss of only $2
Remember, this is based on a $15 Pass Line bet and a $3 Three Way Craps bet, which means you have $1 on each separate craps possibility. THIS IS NOT AN ANY CRAPS BET!! I will give you some different options from the ones I just described, in the event you want to hedge your pass line bet. The following options are also based on a $15 Pass Line bet:
Make a $2 Any Craps bet and lose a total lose of the craps combination shows, which is about a wash.
Make a $3 Three Way Craps bet and get a $12 profit with a 7 or 11, profit of $13 if either Aces or Box Cars shows and if the 1-2 or 2-1 combo comes, you have a net loss of $2.
If you decide to hedge your pass line bet, you have these two options, either Any Craps or my favorite, Three Way Craps. Or you can decide not to hedge at all, and just let that $15 Pass Line line lay "naked" for the craps rolls to rape you.
One final comparison, Before you make a decision, still based on the save $15 Pass Line bet:
An 11 can be made two ways, and can the #, which in effect is a stand-off.
A 7 can be made six ways, and Aces and Box Cars can only be made one way each.
If you decide to let the Pass Line Bet stand naked, not counting the point numbers that could appear, or the 11 or 3 which is a stand-off, you have six ways of winning and only two ways of losing.
Bottom Line on Three Way Craps The decision is yours. What ever way you choose, stay with it all the time. Don't start bouncing your decisions all over the place. Guido's opinion on what to do? Hedge against a $15 Pass Line bet, and higher, with Three Way Craps.