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When joining the game, one should place money on the table rather than passing it directly to a dealer. The dealer's exaggerated movements during the process of "making change" or "change only" (converting currency to an equivalent in casino cheques) are required so that any disputes can be later reviewed against security camera footage.
The of all bets is usually negative, such that the average player will always lose money. This is because the house always sets the paid odds to below the actual odds. The only exception is the "odds" bet that the player is allowed to make after a point is established on a pass/come Don't Pass/Don't Come bet (the odds portion of the bet has a long-term expected value of 0). However, this "free odds" bet cannot be made independently, so the expected value of the entire bet, including odds, is still negative. Since there is no correlation between die rolls, there is normally no possible long-term winning strategy in craps.
There are occasional promotional variants that provide either no house edge or even a player edge. One example is a field bet that pays 3:1 on 12 and 2:1 on either 3 or 11. Overall, given the 5:4 true odds of this bet, and the weighted average paid odds of approximately 7:5, the player has a 5% advantage on this bet. This is sometimes seen at casinos running limited-time incentives, in jurisdictions or gaming houses that require the game to be fair, or in layouts for use in informal settings using play money. No casino currently runs a craps table with a bet that yields a player edge full-time.
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Between dice rolls there is a period for dealers to make payouts and collect losing bets, after which players can place new bets. The stickman monitors the action at a table and decides when to give the shooter the dice, after which no more betting is allowed.
Maximizing the size of the odds bet in relation to the line bet will reduce, but never eliminate the house edge, and will increase . Most casinos have a limit on how large the odds bet can be in relation to the line bet, with single, double, and five times odds common. Some casinos offer 3–4–5 odds, referring to the maximum multiple of the line bet a player can place in odds for the points of 4 and 10, 5 and 9, and 6 and 8, respectively. During promotional periods, a casino may even offer 100× odds bets, which reduces the house edge to almost nothing, but dramatically increases variance, as the player will be betting in large betting units.
Since several of the multiple roll bets pay off in ratios of fractions on the dollar, it is important that the player bets in multiples that will allow a correct payoff in complete dollars. Normally, payoffs will be rounded down to the nearest dollar, resulting in a higher house advantage. These bets include all place bets, taking odds, and buying on numbers 6, 8, 5, and 9, as well as laying all numbers.
A player wishing to play craps without being the shooter should approach the craps table and first check to see if the dealer's "On" button is on any of the point numbers.
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The maximum bet for Place, Buy, Lay, Pass, and Come bets are generally equal to table maximum. Lay bet maximum are equal to the table maximum win, so players wishing to lay the 4 or 10 may bet twice at amount of the table maximum for the win to be table maximum. Odds behind Pass, Come, Don't Pass, and Don't Come may be however larger than the odds offered allows and can be greater than the table maximum in some casinos. Don't odds are capped on the maximum allowed win some casino allow the odds bet itself to be larger than the maximum bet allowed as long as the win is capped at maximum odds. Single rolls bets can be lower than the table minimum, but the maximum bet allowed is also lower than the table maximum. The maximum allowed single roll bet is based on the maximum allowed win from a single roll.
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The Pass line bet is a contract bet. Once a Pass line bet is made, it is always working and cannot be turned "Off", taken down, or reduced until a decision is reached – the point is made, or the shooter sevens out. A player may increase any corresponding odds (up to the table limit) behind the Pass line at any time after a point is established. Players may only bet the Pass line on the come out roll when no point has been established, unless the casino allows put betting where the player can bet Pass line or increase an existing Pass line bet whenever desired and may take odds immediately if the point is already on.
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Any player can make a bet on Pass or Don't Pass as long as a point has not been established, or Come or Don't Come as long as a point is established. All other bets, including an increase in odds behind the Pass and Don't Pass lines, may be made at any time. All bets other than Pass line and Come may be removed or reduced any time before the bet loses. This is known as "taking it down" in craps.
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The Don't Pass bet is a no-contract bet. After a point is established, a player may take down or reduce a Don't Pass bet and any corresponding odds at any time because odds of rolling a 7 before the point is in the player's favor. Once taken down or reduced, however, the Don't Pass bet may not be restored or increased. Because the shooter must have a line bet the shooter generally may not reduce a Don't Pass bet below the table minimum. In , a majority of casinos will allow the shooter to move the bet to the Pass line in lieu of taking it down; however, in other areas such as and , this is not allowed. Even though players are allowed to remove the Don't Pass line bet after a point has been established, the bet cannot be turned "Off" without being removed. If a player chooses to remove the Don't Pass line bet, he or she can no longer lay odds behind the Don't Pass line. The player can, however, still make standard lay bets on any of the point numbers (4, 5, 6, 8, 9, 10).