This is an interesting story. The casinos emphasize "true odds" more than probably any other bet in the game. It is their greatest disguise. True odds are for a fact better than the regular odds. But you see, the only way they'll let you get these "true odds" is if you make them in accordance to an even money bet. That means you receive less money for the true odds than for the regular odds.

Let's look at the 4 and 9. Pass line, or come bet with true odds, versus the number placed: $5 flat bet takes full double odds of $10-$15 total bet. Point is 4. The 4 hits and receives $5 for $5 flat bet and $20 for $10 bet at the true odds of 2 to 1. Total winnings: $25 for a $15 investment.

Now if you place the $15 right on the 4, you only get regular odds-not 2 to 1, just 9 to 5. But, three increments of 5 pay three increments of 9 which is $27. I don't know which one of those you want for your $15-$25 or $27, but I know where I want my money!

And the 9? Well, the point is 9. The 9 hits and receives $5 for $5 flat bet and $15 for $10 bet at true odds of 3 to 2. Total winnings: $20 for a $15 investment.

If the 9 had been placed for the $15 you would have only gotten regular odds of 7 to 5. Still, three increments of 5 pay three increments of 7 for a total of $21.

Maybe "true odds" aren't exactly all they're cracked up to be. They sure save the casino from paying out a lot of money though, considering how many millions of people make pass line and come bets because they do not understand the value of place bets.

The ol' "true odds" story. It has caught a lot of people.

It's a fact that this "true odds" is the most over-rated bet that most people play at a craps table. That's mostly due to the fact that the casinos, the dealers have intentionally mislead the public, that's deceived in my book, into believing that they're going to receive more money by making this bet than anywhere else on the table. That just isn't so. Compare it to a place bet and you'll see it's a lie.

And they're reluctant to tell you in the beginning when they talk about this bet, that the only way you can ever make this bet, is when you have already made an even money bet to begin with. No, they don't want to tell you that. So they just leave that part out. Until you get ready to actually make the bet, of course. Then, they'll casually point out that you have to make a small "flat bet" first. Which throws off all of the math they so carefully informed you of in their initial explanation of the "odds" bet. The odds bet is the clincher that goes along with the come bet, which I told you they were so fond of previously.

They will try desperately to make this bet (the come bet with the odds bet) look/sound better than a place bet at all cost. They will lie; they will smile; they will pat you on the back; they will look you right in the eye seriously and nod their head just to assure you that now you know the absolute best bet you can make, so you can win some serious money. They're so full of it, that it's pathetic.

Heaven forbid you actually add up the numbers for yourself! Then you'll know they're lying to you! Don't worry; I'm getting ready to add them up for you anyway. I had already done this once in the lesson that I used to sell through USA TODAY.

Since then though, they've made a few alterations to their allowances of their betting procedures. I guess they received enough flack from the customers over time that it demanded at least this much change. I like to think my enlightening people had something to do with it. Who knows whether it actually did or not?

Initially, when I sold the lesson through USA TODAY, the casinos only allowed "double odds." I even did the math for you there too. These days, they've changed to 3 times, 4 times and 5 times odds. It looks like this on the table limit sign: 3 x 4 x 5 x odds. What that means is that you can take three times your flat bet (even money bet) on a 4 + 10; four times your flat bet on a 5 + 9; and five times your flat bet on a 6 + 8. Fine. So if they're giving us this great deal, like they say, let's do the math and put it to the test.

We'll use small numbers to keep it simple and therefore easily understood. And will compare it to an equal place bet, just so we can see exactly where it does rate, as far as a better or worse bet goes. A $5 bet on a 4 or 10 will allow 3x odds (that's $15). So we have $20 total at risk. If a 7 is rolled, this bet and the place bet, both lose. If they win, this bet gets paid $5 for the $5 flat bet and $30 (2 to 1) for the $15 odds bet. That's $35 total. Now if a place bet has $20 risked, it only gets paid 9 to 5, but with four increments of $5 risked, it gets paid four increments of $9. That's a total of $36. Now I don't think it takes a real genius to figure out which one of those is more money.

It's not much, but I'll bet you've never walked out of a grocery store saying, "That's okay; I don't want my $36 change-just give me $35."

Why should the casinos be any different? Don't you think you should get what you deserve? If you allow them to talk you into making come bets or pass line bets with odds, you will be getting what you deserve. And if you bet place bets you'll be getting what you deserve also. It's just that one adds up to more money than the other does.

They actually have the 5 + 9 and the 6 + 8 evened out pretty Well with the place bets now that they allow people 4x and 5x odds. That's not what the major disguise is all about though. I'll get to that in just a minute. Let's do the math on these other two sets of numbers first.

A $5 bet on a 5 or 9 will allow 4x odds (that's $20). So we have $25 total at risk. If a 7 is rolled this bet and the place bet both lose. If they win, this bet gets paid $5 for the $5 flat bet and $30 (3 to 2) for the $20 odds bet. That's $35 total. Now if a place bet ahs $25 risked, it only gets paid 7 to 5, but with five increments of $5 risked, it gets paid five increments of $7. That's a total of $35. They're both exactly equal in their payoff.

A $5 bet on a 6 or 8 will allow 5x odds (that's $25). So we have $30 total at risk. IF a 7 is rolled this bet and the place bet, both lose. If they win, this bet gets paid $5 for the $5 flat bet and $30 (6 to 5) for the $25 odds bet. That's $35 total. Now if a place bet has $30 risked, it only gets paid 7 to 5, but with five increments of $6 risked, it gets paid five increments of $7. That's a total of $35. Both of these bets are exactly equal in their payoff too.

So, what's the big deal? Where's the major difference in these two bets? Why do the casino and its dealers want you making odds bets so badly? There is one huge reason!

Do you remember earlier when I mentioned their major disguise and what it is all about? Well this is the entire purpose. If they can keep people away from making place bets and then pressing them up properly as a long roll progresses, they save a ton of money! All of that money they should have had to pay out if people knew how to play this game the best way, they save. If any of us had the amount of money the casinos save by people not knowing how to take advantage of the great rolls that take place, We'd be multi-millionaires. That's a fact.

Guess the truth of the matter is that's what got me started on this entire craps venture in the first place. I figured the people deserved a fair shot, and I didn't think they were getting it. Well, I've probably worn you out with this information concerning odds. As long as it gets the point across though, I've done what I intended to do.