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In craps, players may wager money against each other (street craps) or the bank (bank craps) on the outcome of one roll, or of a series of rolls of two dice. Because it requires very little equipment, craps can easily be played in less formal settings, and is said to be popular among soldiers. In such situations side bets are more frequent, with one or several participants covering or "fading" bets against the dice.

The rules of play against a bank or casino
Bank craps is a game played by one or more players against a casino. The casino covers all player bets at a table and sets the odds on its payout. Players take turns rolling two dice. The player rolling the dice is called the "shooter." Other players at the table will make bets on the shooter's dice rolls. The game is played in rounds, with the first roll of a new round called the "come-out roll". The second round resolves with a point being rolled or a seven.

To begin, a player wishing to establish a point as the shooter must bet the table minimum on either the "Pass" line or the "Dont Pass" line (pass and dont pass are sometimes called Win and Dont Win bets for the outcome of a shooters round).

The shooter is then presented five dice by the stickman and picks two. If the shooter's come-out roll is a 2, 3 or 12, it is called "craps" and the round ends with players losing their pass line bets. The come-out roll continues until a point is established. A come-out roll of 7 or 11 is called a "natural," resulting in a win for pass line bets (and a loss for don't pass bets) and the shooter continues with the come-out roll to establish a point. If the numbers 4, 5, 6, 8, 9, or 10 are rolled on the come-out, this number becomes the "point" and the come out roll is now over. The dealers will move an "On" button (or puck) to the point number which identifies the point number to all players at the table. The shooter will now continue rolling until either the point is rolled or a seven. If the shooter is successful in rolling the point, the result is a win for the pass line (and a loss for the don't pass). If the shooter rolls a seven (called a "seven-out"), the pass line loses (and the don't pass wins). A seven-out ends the round with the dice being passed (clockwise) to the next player who wishes to become the new shooter.

Players can make a large number of bets for each round or each roll. Most bets are on the way the round will end (point comes or a seven-out). Other betting can include betting on a specific total being rolled, or a specific total being rolled before a 7. In a casino, players will make bets with chips on a specially made craps table.

A casino craps table is run by four casino employees: a boxman who guards the chips, supervises the dealers and handles colouring out players; two base dealers who stand to either side of the boxman who collect and pay bets; and a stickman who stands directly across the table from the boxman, takes bets in the center of the table (hard ways, yo, craps, horn etc), announces the results of each roll, collects the dice with an elongated wooden stick, and directs the base dealers to pay winners from bets in the center of the table. Each employee makes sure the other is paying out winners correctly. Occasionally, during off-peak times, only one base dealer will be attending the table, rendering only half the table open for bettors.

The dealers will usually insist that the shooter roll with one hand and that the dice bounce off the far wall surrounding the table. These requirements are meant to keep the game fair (preventing switching the dice or making a "controlled shot"). If a die leaves the table, the shooter will usually be asked to select another die from the remaining three but can request using the same die if it passes the boxman's inspection. This requirement is used to keep the game fair (and reduce the chance of loaded dice).

Nicknaming the rolls comes with making the game more interesting. Locals often have their own names. Nine is often called a "Centerfield Nine" because 9 is the center of the Field bet. Five is often called "No Field Five" to remind the players that 5 is not paid in the Field bets. Some dealers and players refer to any nine (5-4 or 6-3) as a "Lou Brown." In Atlantic City, a 4-5 is called a "Railroad Nine." Eleven is called out as "Yo" or "Yo'Leven" because it can often be mistaken for a seven. Rolls of 4, 6, 8, and 10 are called "hard" or "easy" (e.g. "Easy Eight", "Hard Ten") because of their significance in center table bets known as the "hard ways".

Types of wagers

Line bets
Standard layout for craps (without Big 6/8)The shooter is required to make either a Pass Line bet or a Don't Pass bet if he wants to shoot. Line bets are based around points.

Pass line: The fundamental bet in craps is the pass line bet, also called the win line in some countries. A pass line bet is won immediately if the come-out roll is a 7 or 11. If the come-out roll is 2, 3 or 12, the bet loses (known as "crapping out"). If the roll is any other value, it establishes a point; if that point is rolled again before a seven, the bet wins. If, with a point established, a seven is rolled before the point is re-rolled, the bet loses ("seven out").

Don't pass: The opposite of the pass line bet is the don't pass bet. The don't pass bet is opposite in that it loses if the come-out roll is 7 or 11 and wins if the come-out roll is 2 or 3. A 12 will draw (this depends on the casino); either way a player cannot lose if 12 is rolled. A draw (the word "BAR," printed on the Craps layout, means "Standoff") on 12 is done to ensure the casino maintains a house edge regardless of whether players are betting pass or don't pass. If a point is established and that point is rolled again, the don't pass bet loses. If a 7 is rolled instead of the point being re-rolled, the don't pass bet wins. There are two very slightly different ways to calculate the odds and house edge of this bet. The table below gives the numbers considering that the game ends in a push when a 12 is rolled, rather than being undetermined. Betting on don't pass is often called "playing the dark side," and it is considered by some players to be in poor taste, or even taboo, because it goes directly against conventional play.

Pass odds: If a 4, 5, 6, 8, 9, or 10 is thrown on the come-out roll (i.e., if a point is set), most casinos allow pass line bettors to take odds by placing from one to five times (and at some casinos, up to 100 times) the pass line bet behind the pass line. This additional bet wins if the point is rolled again before a 7 is rolled (the point is made) and pays at the true odds of 2-to-1 if 4 or 10 is the point, 3-to-2 if 5 or 9 is the point, and 6-to-5 if 6 or 8 is the point.

Some casinos offer "3-4-5X Odds," where the maximum allowed odds bet depends on the point (three times if the point is 4 or 10, four times on 5 or 9, and five times on 6 or 8). This rule simplifies the calculation of winnings: a maximum pass odds bet on a 3-4-5X table will always be paid at six times the pass line bet regardless of the point.

As odds bets are paid at true odds, in contrast with the pass line which is always even money, playing pass odds on a minimum pass line bet lessens the house advantage. A maximum odds bet on a minimum pass line bet gives the lowest house edge available in the casino.

Don't pass odds: If a player is playing don't pass instead of pass, they may also lay odds by placing chips behind the don't pass line. If a 7 comes instead of the point coming, the odds pay at true odds of 1-to-2 if 4 or 10 is the point, 2-to-3 if 5 or 9 is the point, 5-to-6 if 6 or 8 is the point. For most players the perceived disadvantage of putting up the long side of the bet makes the don't pass odds less desirable, however putting up the long side reduces variance.

Come bet: The rules for the come wagers are the same as for the pass line except that they can only be made after the come-out roll. If the roll the come bet is made on is a 7 or 11 it wins, if it is a 2, 3 or 12 it loses, just like a pass bet. If instead the roll is 4, 5, 6, 8, 9, 10 then the come bet will be moved by the base dealer onto a box representing that number. If the number is rolled again before a seven, the bet wins. If the seven comes before the number (the come-bet), the bet loses. Odds can also be placed on a come-bet just like a normal pass point; in this case the dealer (not the player) places the odds bet on top of the bet in the box, because of limited space, slightly offset to signify that it is an odds bet and not part of the original come bet.

Because of the come bet, if the shooter makes their point, a player can find themselves in the situation where they have a come bet (possibly with odds on it) and the next roll is a come-out roll. In this situation odds bets on the come wagers are presumed to be not working for the come-out roll. That means that if the shooter rolls a 7 on the come-out roll, any players with active come bets waiting for a come-point lose their initial wager but will have their odds money returned to them. If the come-point is rolled the odds do not win but the come bet does and the odds are returned. The player can tell the dealer that they want their odds working, such that if the shooter rolls a number that matches the come point, the odds bet will win along with the come bet, and if a seven is rolled both lose.

Don't come: There is also a don't come box which is the opposite of a come bet in that the player is betting that craps will come on the next roll instead of 7 or 11, or that if a come point is made, that value won't be rolled again before a 7. It pays just as don't pass and also has odds in the same way.

Single roll bets
Single-roll or proposition bets are determined with a single roll from the shooter and may be placed at any time. They include:

2 (snake eyes, or Aces): Wins if shooter rolls a 2.
3 (ace-deuce): Wins if the shooter rolls a 3.
Yo: Wins if the shooter rolls 11.
12 (boxcars, or midnight): Wins if shooter rolls a 12.
2 or 12 (hi-lo): Wins if shooter rolls a 2 or 12. The stickman places this bet on the line dividing the 2 and 12 bets.
Any Craps: Wins if the shooter rolls 2, 3 or 12.
C & E: A combined bet, a player is betting half their bet on craps and the other half on yo (11). One of the two bets will always lose, the other may win.
Any seven: Wins if the shooter rolls a 7. This bet is also nicknamed Big Red, since the 7 on its betting space on the layout is usually large and red.
Field: This bet is a wager that one of the numbers 2, 3, 4, 9, 10, 11, or 12 will appear on the next roll of the dice. This bet typically pays more 2:1 or 3:1 if 2 or 12 is rolled, and 1:1 if 3, 4, 9, 10 or 11 is rolled. Unlike the other proposition bets which are handled by the dealers or stickman, the field bet is placed directly by the player.
The Horn: This is a bet that involves betting on 1 unit each for 2, 3, 11 and 12 at the same time for the next roll. The bet is actually four separate bets, and pays off depending on which number is actually rolled, minus three units for the other three losing bets. Many players, in order to eliminate the confusion of tossing four chips to the center of the table or having change made while bets are being placed, will make a five-unit Horn High bet, which is a four-way bet with the extra unit going to one specific number. For example, if you toss a $5 chip into the center and say "horn high yo," you are placing four $1 bets on each of the horn numbers and the extra dollar will go on the yo (11).
Whirl or World: bet is a five-unit bet that is a combination of a horn and any-seven bet, with the idea that if a seven is rolled the bet is a push, because the money won on the seven is lost on the horn portions of the bet.

Multi roll bets
These are bets that may not be settled on the first roll and may need any number of subsequent rolls before an outcome is determined.

Hard way: A bet that the shooter will throw a 4, 6, 8 or 10 the "hard way", before he throws a seven or the corresponding "easy way". A hard way is when both dice show identical values, also known as "doubles," so 2-2 is hard way 4.
Easy way: Opposite of hard way is a bet that the shooter will throw a specific easy way (either 4, 6, 8 or 10), before he throws a seven. An easy way is a value that does not have two dice identical, so 3 1 is easy way 4. These are rarely available as bets except by placing on a point number (which pays off on easy or hard rolls of that number).
Big 6 and Big 8: These wagers are usually avoided by experienced craps players since they pay even money (1:1) while a player can bet on the same proposition (that the number will be rolled before a 7) by making place/buy bets on the 6 or the 8, which pay more (6:5). Some casinos do not even offer the Big 6 & 8. The bets are located in the corners behind the pass line, and bets may be placed directly by players.
Place and buy: Players can buy or place any point number (4, 5, 6, 8, 9, 10) except for the current point by placing their wager in the come area and telling the dealer, "place the 6" or "buy the 8". Both place and buy bets are bets that the number bet on will be rolled before a 7 is rolled. Place bets are paid at odds worse than the true odds, while buy bets are paid at true odds, but a 5% commission is charged. Traditionally, the buy bet commission is paid no matter what, but in recent years a number of casinos have changed their policy to charge the commission only when the buy bet wins. Some casinos charge the commission as a one-time fee to buy the number; payouts are then always at true odds. Most casinos usually charge only $1 for a $25 green-chip bet (4% commission), or $2 for $50 (two green chips), reducing the house advantage a bit more. Where commission is charged only on wins, the commission is often deducted from the winning payoff--a winning $25 buy bet on the 10 would pay $49, for instance. The house edges stated in the table assume the commission is charged on all bets. They are reduced by at least a factor of two if commission is charged on winning bets only.
Lay: A lay bet is the opposite of a buy/place bet, where a player bets on a 7 to roll before the number that is laid. The lay bets pay true odds, but a 5% commission is charged. In some casinos the commission is only charged if the bet wins. Like the buy bet the commission is adjusted to suit the betting unit such that fraction of a dollar payouts are not needed.
Most multi-roll bets are similar to the Come bet above in that the round may be won by the shooter making point before the outcome of the bet is decided. As with the Come bet, these bets are considered "not working" until the next point is established, unless the player calls the bet as "working." Casino rules vary on this; some of these bets may not be callable, while others may be considered "working" during the come-out. If the number placed, bought or laid becomes the new point as the result of a come-out, the bet is usually refunded, or can be moved to another number for free.

Player bets
Fire Bet: Before the shooter begins, some casinos will allow a bet known as a fire bet to be placed. A fire bet is a bet of between 1-5 dollars (the Rio in Las Vegas allows up to $10) in the hopes that the next shooter will have a hot streak of setting and getting many points of different values. As different individual points are made by the shooter, they will be marked on the craps layout with a fire symbol. The first three points will not pay out on the fire bet, but the fourth, fifth and sixth will pay out at increasing odds. The fourth point pays at 25-1 (a maximum of $125 for a $5 bet), the fifth point pays at 250-1 (a maximum of $1,250 for a $5 bet) and the 6th point pays at 1,000-1 (a maximum of $5,000 for a $5 bet). Note that the points must all be different numbers for them to count towards the fire bet. For example, a shooter who successfully hits a point of 10 twice will only garner credit for the first one on the fire bet.

Bet Odds
The expected value of all bets is 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, the "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 no possible long-term winning strategy in craps.

Maximizing the size of the odds bet in relation to the line bet will reduce, but never eliminate the house edge, and will increase variance. Many casinos have a limit on how large the odds bet can be in relation to the flat 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 100x 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.

Betting Variants
These variants depend on the casino and the table, and sometimes a casino will have different tables that use or omit these variants and others.

11 is a point number instead of a natural. Rolling an 11 still pays "Yo" center-table bets, however the Pass line does not automatically win (and the Don't Pass line doesn't automatically lose) when 11 is rolled on the come-out. Making the point pays 3:1 on Pass/Come odds bets (1:3 on Don't Pass/Come odds); all line bets are still even money. This slightly reduces the odds of a natural and of making the point in general, increasing the house edge on the pass line. 11 pays 2:1 on the field. This variant is normally used when 12 pays 3:1, and further lowers the house edge on the field.
Big 6/8 are unavailable. These bets are equivalent to placing or buying 6 or 8 as points, which have better payout for the same real odds, so Big 6/8 are rarely used and many casinos simply omit them from the layout.

Optimal betting
Since all bets have a house advantage, and a negative expected value, the optimal strategy is to be the house. Failing that, one can reduce one's average hourly losses by only placing bets with the smallest house advantage.

The pass/don't line, come/don't line, place 6, place 8, buy 4 and buy 10 (only under the casino rules where commission is charged only on wins) are the best bets with the lowest house edge in the casino, and all other bets will on average lose money between three and twelve times faster because of the difference in house edges.

An important alternative metric is house advantage per roll (rather than per bet), which may be expressed in loss per hour (see reference). The typical pace of rolls varies depending on the number of players, but 102 rolls per hour is a cited rate for a nearly full table (see reference). This same reference states that only "29.6% of total rolls are come out rolls, on average," so for this alternative metric, needing extra rolls to resolve the pass line bet, for example, is factored. This number then permits calculation of rate of loss per hour, and per the 4 day/5 hour per day gambling trip:

$10 Pass line bets 0.42% per roll, $4.28 per hour, $86 per trip
$10 Place 6,8 bets 0.46% per roll, $4.69 per hour, $94 per trip
$10 Place 5,9 bets 1.11% per roll, $11.32 per hour, $226 per trip
$10 Place 4,10 bets 1.19% per roll, $12.14 per hour, $243 per trip
$1 Single Hardways 2.78% per roll, $2.84 per hour, $56.71 per trip
$1 All hardways 2.78% per roll, $11.34 per hour, $227 per trip
$5 All hardways 2.78% per roll, $56.71 per hour, $1134 per trip
$1 Craps only on come out 3.29% per roll, $3.35 per hour, $67.09 per trip
$1 Eleven only on come out 3.29% per roll, $3.35 per hour, $67.09 per trip

Although their house percentages are poor, hardways and C/E (any craps / eleven) do not lose money as quickly as the pass line bet if some restraint as to frequency is used, such as limiting such bets to the come out roll as the chart shows. The $1 "yo" (eleven) bet, split with the dealers on come-out rolls by calling out "two-way yo," tends to be a favorite with many players as means of tipping the dealers without giving up too much per gambling trip. If eleven comes out on the come out roll, the pass line win bets and the more substantial "yo" bet splits (see see reference).

Also, by this metric, other betting patterns are shown to be costly, for example placing $10 on all point numbers, which has a much higher loss of $40.49 per hour or $810 per trip

Street Craps
Recreational or informal playing of craps outside of a casino is referred to as street craps or private craps. The most notable difference between playing street craps and bank craps is that there is no bank or house to cover bets in street craps. Players must bet against each other by covering or fading each others bets for the game to be played. If money is used instead of chips and depending on the laws of where it is being played, street craps can be an illegal form of gambling.

There are many variations of street craps. The simplest way is to either agree on or roll a number as the point, then roll the point again before you roll a seven. Unlike more complex proposition bets offered by casinos, street craps has more simplified betting options. The shooter is required to make either a Pass or a Don't Pass bet if they want to roll the dice. Another player must choose to cover the shooter to create a stake for the game to continue. If there are several players, the rotation of the player who must cover the shooter may change with the shooter (comparable to a blind in poker). The person covering the shooter will always bet against the shooter. For example, if the shooter made a "Pass" bet, the person covering the shooter would make a "Don't Pass" bet to win. Once the shooter is covered, other players may make Pass/Don't Pass bets, or any other proposition bets, as long as there is another player willing to cover.