Craps is perhaps the most popular dice game in casinos. It is a unique game in that there are two ways by which you can win in this game. Either you play as the shooter (the one who simply rolls the 2 dice), or just as a spectator who makes bets based on the shooter's throw.
Playing as the Shooter:
A player throws 2 dice from one end of the craps table to the other. The sum of the dice determines whether the shooter wins or loses. Rolling a "2", "3" or "12" on the first roll is a loss for the shooter. On the other hand, rolling a "7" or "11" is an automatic win. If the shooter rolls any other number though, he or she gets to roll again (and again as necessary). That first number rolled (other than a 2, 3, 7, 11 or 12) becomes the shooter's "point" (or simply objective). The shooter then aims to roll until he or she rolls the point or a "7". Rolling the point before rolling a "7" is a win. Rolling a "7" before the point is a loss.
Placing Bets as a Spectator:
Being a spectator is actually a bit more complicated than being the shooter as there are quite a number of bets that you can make aside from betting on whether or not the shooter wins. Here's a few of them:
Pass Line - This pays off at a 1:1 if the shooter wins (i.e. the shooter rolls a "7" or "11" on the first roll or the shooter rolls the point before a "7" in succeeding rolls). The bet is lost anytime that the shooter loses (i.e. rolling a "2", "3" or "12" on the first roll or rolling a "7" before the point is rolled).
•The Come bet is played as the Pass Line bet, except that these are for bets only after a first roll has been made, and the shooter has neither won or lost yet
Don't Pass Line - Also paying off at 1:1, this is simply the opposite of the Pass Line bet. In other words, should the shooter lose, the bettor also loses.
•The Don't Come bet is played as the Don't Pass Line bet except that these are for bets only after a first roll has been made and the shooter has neither won or lost yet.
Odds bets - These bets can be placed with either of the above bets. The payout depends on the point number, however.
Big 6 and Big 8 bets - If the roll is a "6" or "8" respectively before a "7", the bettor wins. This pays off at 1:1 odds.
Aces and Twelve bets - This pays off at a huge 30:1 odds and is won by the spectator if on their next roll, the shooter rolls a "2" or a "12" respectively.
Any 7 and Any 11 - The bettor wins if on his or her next roll, the shooter rolls a "7" or "11" respectively. Any 7 pays off at 4:1 odds while Any 11 pays off at 15:1.
There are several more types of bets that one can make and the payoffs depend on the odds of those rolls happening. The ones listed above are just some of the more popular ones.