If you want to wager $100 on the Knicks to win, you would type -120 in the American Odds section and 100 in the Bet Amount ($) section. You’ll see that you’d get a payout of $183.33. To calculate the craps payouts and odds for this number, we multiply the three by two (the two dice that players use in the game), and the result we get is six. Thus, the odds are 1:6 and seven is the most frequent number that comes up in craps games. How to convert the chance to roll a particular number into odds?

1. Craps Payout Calculator
2. Craps Payout Calculator App

Craps Probability Calculation Program. Out of total decisons? Notes Disclaimer: these are only probabilities, they do not guarantee what will happen at an actual table! Usage: you just need to select the type of bet (Pass Line is the default), and then fill in the blanks for one (or several) of the following three questions. Specify the number of wins/losses and a total number of decisions. Click Here to learn the basics of playing craps. How To Win At Craps Systems Winning Roulette System Craps Strategy Winning Blackjack Video Poker Strategy Horse Racing Systems Horse Racing Systems.

On this page you'll find a Kelly Criterion Bet Calculator. Enter your assumptions on

• Probability of winning
• Odds and payouts
• Your current bankroll
• Any adjustments you want to make to be conservative

We automatically calculate your ideal bet size with the Kelly Criterion and your assumptions.

The Kelly Criterion Bet Calculator

Practical Application of the Kelly Criterion To Betting Strategies

The Kelly Criterion is a formula to determine the proper size of a bet with known odds and a definite payout. With hand waving and basic math you can also use it to help guide your investment decisions.

It's most useful to determine the size of a position you should take.

Using the Kelly Calculator

The Kelly Criterion bet calculator above comes pre-filled with the simplest example: a game of coin flipping stacked in your favor.

• The casino is willing to pay 2 to 1 on any bet you make.
• Your odds of winning any one flip are 50/50.
• Therefore, your probability is .5... 50%.
• Your 'odds offered' are '2 to 1' (so enter 2).
• You have $1,000 with you.

Hit calculate, and see that you should definitely take the bet. Your optimal bet size is 25% of your bankroll.

(Now, find a casino stupid enough to offer those odds!)

Of course, you can see practical the practical value of Kelly betting when it comes to things with discrete results and obvious probabilities - say pot odds in a poker hand. Your mileage may vary.

What do you think about simple Kelly betting? Even though it is designed to never let you go bankrupt, Kelly still allows wild volatility swings.

Do you prefer another strategy? Perhaps half or quarter Kelly methods?

... the house payoffs for bets made with the house odds and then paid for true odds. ....

I had some difficulty understanding this part of your question, so what I offer here may not be what you are asking for. I'll limit myself to the topic of how many chips to include in your bet and leave the rest to someone else. With the exception of those few craps tables with minimums of less than $5, this should work for you. All of the following must be adjusted to comply with minimums greater than $5.
Pass, come, don't pass, don't come, and field bets in increments of $5. Place bets in increments of $5 except in increments of $6 for bets on 6 and 8. I've never made a lay bet, so I will leave that and buy bets for someone else to discuss.
Pass line and come bet odds bets (usually) in increments of $5, always an even number for pass/come odds bets on points of 5 and 9, and a maximum odds bet as specified for the particular table/casino, usually a multiple of the pass/come bet you made. Don't pass and don't come odds bets work out easiest if they are six times the don't pass/come bet.
Most proposition bets can be any amount from $1 to the maximum allowed. Horn bets in multiples of $4 and horn-high bets in multiples of $5.
I probably left something out, and I apologize if this response is trivial and not what you meant.
Edit: as for forumulae, payouts for place bets are 7 to 6 on six and eight, 7 to 5 on five and nine, and 9 to 5 on four and ten. Payouts for pass/come odds bets are 6 to 5 on six and eight, 3 to 2 on five and nine, and 2 to 1 on four and ten. Invert those for payouts on don't odds bets. Again, sorry if this is not what you were asking for.

Craps Payout Calculator

your question in a bit confusing (house odds????) but if you are asking about putting odds behind your passline bet, this might help/
6&8..........units of 5 because every 5 wins 6
5&9.........units of 2 because every 2 wins 3
4&10........units of 1 because every 1 wins 2

House odds are also known as house payoffs. Pretty much there are house odds and true odds (it's how house edge is calculated).
And flip it for lay odds.

Craps Payout Calculator App

Increments of 6 for 6/8.
Increments of 3 for 5/9.
Increments of 2 for 4/10.
House odds on lay bets (opposite of place bets) are weird and must be in high increments. This is posted on the wizards site, although I have no idea off the top of my head.