The huge number of bets in craps is what makes the game seem complicated at first sight. There are 40 of them with each bet having different probabilities and house edges.

These bets can be classified into smart bets and foolish bets. Smart bets are those that give the player better odds and leave a lower house edge and the foolish or dumb bets are those that give away the house a greater edge and leave the player with nothing.

Armed with this factual information, the player can make appropriate decisions and play smarter.

Time to get into the specifics of all the wagers!

Line Bets

These bets can be classified as the smartest bets of all. In fact, the Pass Line bet is what makes craps well-known as a winning 'chance' game and the house edge on this is just 1.41%.

The Don't Pass and Don't Come bets also have a low house edge of 1.40%. If these bets are not as popular as the others, it's because the player is betting against the shooter with these bets.

As far as house edges go, there can be nothing better than the Line Bets. Mastering these bets gives the players a better grasp of the concepts of other bets in craps.

Line Bets: Pass Line bet, Don't Pass bet, Come bet and Don't Come bet.

Single Roll Bets

These are the worst bets on the craps table. As we mentioned earlier, they come with big odds and a novice would be tempted to bet on them. Yes, it is a fact that a lot of money can be made with these if the player wins, but then the losses will be heavy too as the house edge is far larger than the others.

With these bets, the least house edge the player can think of getting is 11.1%, and this is when the bet is on 11 on the next roll. The highest house edge is a whooping 16.67% on Any 7 bet.

It sure doesn't hurt to stay away from them.

Single Roll Bets: Yo, 3 (Ace Deuce), 2 or 12, C and E, Any Craps, Any Seven, Field Bet, Horn Bet and the World Bet.

Multi Roll Bets

These are some of the most common bets used in betting strategies. They can be used along with Line Bets.

The house edge on them is somewhere in the middle, not too low or too high. It is around 5%, which is not too bad and they are entertaining to play too, as they change the pace of the game when compared to Line Bets, and the player doesn't have to give the casino a huge edge.

While it is smart to stick to Line Bets, it is worth checking the Multi Roll Bets out once in a while.

Multi Roll Bets: Easy Way Bet, Hard Way, Buy Bet, Lay Bet and the Big 6 and Big 8.

Now, with this knowledge, you can attack the craps table with full gusto and have loads of fun without letting the house have any. That's smart thinking!