- Hedging your bet in live dealer craps can reduce variance or losses on selected outcomes in exchange for additional wagering.
- Certain game circumstances, like the Pass Line bet, provide opportunities for hedging.
- Whether hedging makes sense depends on game rules and player budgets.
Hedging your bet in live dealer craps is a pure expression of the give and take that’s common to gambling, as you give up some potential profit to reduce exposure to certain outcomes. The math doesn’t favor making this compromise in every situation, but there are a few circumstances in which limited hedge bets do make sense.
Playing online craps is a great way to experience these situations and see how hedge bets affect your results. Hedging wisely requires a solid understanding of the basic principles of hedging, the probabilities in craps, and the rules that govern the game.
What is Hedging in Craps?
When playing live dealer craps at BetMGM or any other game that allows for it, hedging generally means placing a secondary wager that offsets the risk of your initial bet. The secondary wager might pay out if the main bet loses in some cases.
Live dealer and virtual dice games like craps allow bettors to do this in several ways in many circumstances. There’s a clear procedure for placing these bets in most craps games.
How Do You Place Hedge Bets in Live Dealer Craps?
Most bets that can be considered “hedge bets” in craps are, in traditional in-person craps, placed by putting down the denomination and number of chips that you wish to risk on the appropriate spot on the craps table, while in live dealer craps you need to select the appropriate option on the game interface. This is because the live dealer craps rules provide for bettors making these wagers in many situations, including those independent of a hedge interest.
The truth is that these bets only take on the distinction of being “hedge bets” when they are placed alongside other wagers in craps strategies that involve hedging. They aren’t inherently restricted to hedge contexts but rather tend to work well with other bets in that regard.
What Is the Most Common Example of Craps Hedge Betting Strategy?
A common example of hedging in live dealer craps involves the pass line bet. Beginner craps player tips in this situation cover the basic math of this wager and the hedging options that synergize with it to reduce risk in craps.
Hedging the Pass Line Bet With an Any Craps Bet Explained
The Pass Line bet is one of the most common types of craps bets and therefore a prime opportunity for hedging with the Any Craps wagers. These are a pairing for hedging because the Pass Line bet loses if the come-out roll produces a two, three, or a 12, but that’s exactly when the Any Craps wager pays out.
Hedging the Pass Line Bet With a Don’t Pass Line Bet Explained
Some players hedge their pass line bets with the opposite bet: the Don’t Pass bet. In doing so, bettors cover the craps odds for the come-out roll producing a two, three, seven, or 11, but are still vulnerable to the rolling of a 12 since a Pass loses while a Don’t Pass pushes.
There are many other ways to hedge your bets in live dealer craps, such as placing an Any Seven bet to hedge a Pass Line wager after the point has been established. It’s important to note both the downsides and upsides of these decisions.
What Are the Advantages of Hedge Bets in Craps?
The advantages of hedging in craps include diversifying your plays and limiting potential losses. Novice bettors may believe that live dealer craps is difficult to learn because of the number of betting choices, but hedging reveals that all these options utilize simple principles.
For example, suppose that you start playing craps with a $5 Pass Line bet and hedged that with a $1 Any Craps wager with payout odds of 7:1. If the result of the come-out roll is a two, three, or 12, you’d come out ahead by $2 because while you lost your Pass Line bet, you got a $7 payout on your Any Craps wager.
If you passed on hedging your Pass Line bet and got the same result, you’d be down $5. This demonstrates how hedging works as a Variance-reduction strategy that can help reduce the impact of losses on your bankroll if luck doesn’t go your way in live dealer and virtual dice games.
What are the Disadvantages of Hedging Craps Bets?
The disadvantages of hedging your craps bets focus on increasing your overall stake and limiting your potential winnings. Live dealer game winning tips prioritize getting the best possible reward for the stake you’re comfortable with, and hedging may sometimes work contrary to that interest.
Continuing with the example above, suppose that the come-out roll results in a seven or an 11. You’d win your Pass Line bet but you’d only come out ahead $4 instead of $5 because you lost your Any Craps wager.
Sacrificing a fifth of your prize on your Pass Line bet may not seem a worthwhile hedge to you. That lost payout can add up over time, especially for bettors with smaller gambling bankrolls.
How Can You Tell When Hedging Makes Sense in Live Dealer Craps?
A deciding factor in whether hedging makes sense as you play craps can be the state of your bankroll. Another important consideration is the house edge in craps.
Once you’re familiar with the situations where hedging makes sense, you might want to think about placing some hedge bets to reduce variance; however, you must still keep in mind that hedge bets require additional wagers, so you might want to avoid hedge bets if you want to make your bankroll go farther.
Smart players will also consider whether the rules allow certain hedging strategies and the probabilities of each hedging option. For example, versions of crapless craps nullify the Any Craps as a hedge to Pass Line bet strategies.
Craps Hedging FAQ
Learn more about craps hedging with these frequently asked questions:
Does Hedging Craps Bets Work?
Hedging bets in craps can work as long as you have realistic expectations for the strategy and understand the purpose of hedging. Hedging is a way to potentially reduce the size of your losses, but it’s not a guaranteed way to collect winnings on every play.
What Does It Mean to Hedge Your Bets in Craps?
Hedging your bet in craps means placing a secondary wager that counteracts the risk you take in your primary bet. This allows bettors to cover more of the possible results of an upcoming dice roll.
What Is the Best Hedge Bet in Craps?
The best hedge bet in craps depends on the game circumstances and rules. For example, the Don’t Pass Line bet can be a hedge bet on the come-out roll, but the Any Seven bet is an option once a point has been established.
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