One of the more popular bets at a craps table is the field bet. It is a onetime bet that wins if a 2, 3, 4, 9, 10, 11, or 12 is thrown. That is the reason for its popularity -- it pays on all but four numbers. Never mind the fact that the numbers that lose are the most frequently appearing.
In most casinos the field bet pays double for the 2 or 12 and pays even money for the other numbers. The house edge on this bet is 5.56 percent, a terrible bet for the player. Only truly awful bets such as placing the 4 or 10 (6.67 percent house edge) and the horrendous bets in the center of the table that the stickman must place for the player (9.09 - 16.67 percent) and the obscene fire bet (25 percent) are worse than the standard field bet. For those who think these percentages are just numbers, consider this: for every $100 bet on the field the house will win $5.56. If betting the center table bets or the fire bet, for every $100 bet the player will lose $9.09 to $25!
A few casinos, however, pay triple for the 12. This minor change cuts the house edge in half to 2.78 percent. This reduced the house take on $100 bet to $2.78. The question is: Does this make the field bet a good bet?
Answer: yes and no.
Yes, it is a much better bet than the standard field bet. Your money will last twice as long. It is now a better bet than placing the 5 or 9 (4 percent).
No, because there are so many better bets available. Pass line and come bets have a house edge of 1.41 percent with no odds and .61 percent with double odds. Placing the 6 or 8 carries a house edge of 1.52 percent. Buying the 4 or 10 when the vig is taken on a win only has a house edge under two percent.
The field bet may win on 16 out of 36 possible dice combinations. The 6 or 8 each win on five out of 36 dice combinations and the 4 and 10 each win on three out of 36 dice combinations. Collecting wins is certainly fun, but is it worth paying double to the casino? I certainly don't think so.
