A Craps Tutorial

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Betting On Craps Games: What Are The Odds ?


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If all you want to do is learn about odds Vs. probability and how to convert from probability to odds or vice-versa,   then here is a simple formula for   converting odds to probability and probability to odds.

 

  The Craps tutorial is divided into two parts.
 
    Part 1 -- Rules -- how craps is played
 
    Part 2 -- Math -- finding the house edge and the odds for various bets
 
  The Other Topics section is for things not necessarily related to craps or math.

Prerequisite

For part 2 the reader should have taken at least one high school algebra course and should
know how to add fractions ( both with and without a calculator ). Some sections of part 2 require a familiarity with inequalities.

Objective

The author began writing this tutorial to help himself learn more about craps. He hopes that this tutorial will be useful to some math teachers, a few students, and a small segment of the general population.

Although the main topic is craps, there is a brief look at roulette and the lottery.
There is no discussion of games that require genuine skill, such as blackjack or poker.
( However,   the Other Topics section has links to help for some poker games. )

Craps is not an important game, but knowing something about it could enhance your understanding of a few more movies :

  "I'll take full odds on the ten, 200 on the hardway,
  the limit on all the numbers, [ and ] 250 on the eleven,
  thank you very much."
    -- James Bond   ( Diamonds Are Forever )

Caution

So far there has been no peer review of the material at this site, so mistakes are possible. Use any of this information at your own risk.   The author   has taught a few math courses ( mostly while a grad student at Florida Tech ) but is not an expert on either craps or mathematics. If you find errors, you can notify the author at   schoolmarm@crapsmath.com

Most people should not expect to earn money by playing craps or other casino games.
In the long run, you will lose more money than you win.   But if you do play, then do so for entertainment only; and,   never bet any money that you can't afford to lose.

 

More Advanced Information

There are many web sites that deal with gambling and its mathematics. The author learned a lot from Michael Shackleford's   Wizard of Odds   web pages. Anyone interested in math / gambling should definitely visit his web pages.

 


 

Mathematics Reference Books
( These are old but useful books.   I'm not familiar with newer books that might be better. )

  An Introduction to the Theory of Numbers
    by Ivan Niven and Herbert Zuckerman
    © 1960 John Wiley & Sons, Inc.
    See chapter 7 for continued fractions and chapter 4 for bracket function
 
  Mathematical Statistics   2nd edition
    by John E. Freund
    © 1971 Prentice-Hall, Inc.
    Chapter 1 has good information about Permutations and Combinations
 
  Continued Fractions   ( paperback )
    by C. D. Olds
    © 1963 Yale University   ( A volume in the New Mathematical Library )
    Targeted to high school and college students but some tough reading
 
  An Introduction To Continued Fractions   ( paperback )
    by Charles G. Moore
    © 1964 The National Council of Teachers of Mathematics, Inc.
    Chapter 6 shows some practical applications, e.g. gear ratio problems
 
  Elementary Number Theory
    by J. V. Uspensky and M. A. Heaslet
    © 1930 McGraw-Hill Book Company, Inc.
    The appendix ( pages 206-211 ) has a proof of the Rev Zeller formula
for perpetual calendar calculations
 

Mathematics Reference Links

  All Casino Games -- The Wizard of Odds
    One of the best web sites for expert information
    on all the major casino games
 
  Math Topics   ( e.g. Craps )   by Dr. Math
    For   CRAPS   articles,   go to the site and
    type   CRAPS  in the   SEARCH THE ARCHIVE   box
 
  Continued Fractions    by Wikipedia
    Nice article from a free encyclopedia
 
  Continued Fractions    by R. Knott
    I've not read all of this, but at first glance it looks
    like it would be worth studying
 
  Perpetual Calendars    by R. Knott
    What is the Herschel Perpetual Calendar ?
    ( His   More Links   link seems to be broken )
 
  Perpetual Calendars    by Dr. Math
    Another version of the Reverend Zeller formula
   
  Math Atlas
    Links to many math topics   ( e.g. Probability & Statistics )
    at and beyond the college level
 
  Virtual Laboratories in Probability And Statistics
    This page from the Math Department at the University of Alabama in Huntsville contains many lessons in Probability & Statistics and includes several java applets.
    To learn about the mathematics of craps,   click on the Craps link at
Games of Chance    [ Note: People using Internet Explorer will need
MathPlayer,   which is available for free at   Download MathPlayer   ]

 

 


 

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Last Update: 12 May 2008

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