Why I like the "Fire Bet" at craps.
A lot of people like to play craps at casinos.
But the problem with craps is that the payoffs on any particular bet are relatively small. Some bets pay as little as $7 for every $6 you bet. On most craps tables, the highest paying bet might pay $30 for $1.
If you want a big payoff for a small bet you are more likely to play slot machines where, for example, a $3 bet on a mega jackpot machine could win you millions. And in video poker a $5 bet could get you $4,000 if you hit a royal flush.
Well, a couple of years ago, the "Fire Bet" was invented -- and this is like a jackpot bet at craps. At most casinos the "Fire Bet" pays a maximum of 5,000 to 1, so a $1 bet can win $5,000.
The Fire Bet wins if one shooter makes passes on all six numbers in craps -- the 4, 5, 6, 8, 9 and 10. Make all six, which happens about once in 6,100 shooters, and you win $5,000 for your $1 bet. There are smaller payoffs if the shooter makes 4 or 5 different passes.
But why I like the Fire Bet is because you can win a lot at a game that usually doesn't pay a lot unless you bet a lot. When you are only getting perhaps 2-to-1 on a bet at craps, you have to bet a lot to win a lot. Except when the Fire Bet is made.
In fact, you have a better shot at hitting the thousand-to-one payoff on the Fire Bet than you are at hitting a royal flush in video poker.
The chance of hitting a royal flush on any single play or bet is about one in 40,000. The chance of hitting the six numbers for the maximum payoff on the Fire Bet is about one in 6,100.
In video poker you have to bet $1.25 to hit a royal flush that pays $1,000.
In craps, you have to bet $1 to hit the Fire Bet that pays $1,000.
Making the fire bet costs you less to win $1,000 and your Fire Bet will last longer than each bet at video poker meaning that over the same amount of time, you will lose less with the Fire Bet than you will betting to hit a royal at video poker.
Friend Losing Big on Fire Bets
Fire bets are not a bad bet, your friend just bet too much per bet. If you just bet a buck or two it can pay a decent reward, the most I bet is $5.
Harrah's KC, hit 5 of 6 on a fire bet with a $5 bet, paid $1,000. Total for the night, up, $900 and that included having to buy drinks and pay for my wife playing slots for 8 hours.
I have hit several fire bets at Harrah's in KC although overall I am down :( due to other betting.
This summer hit a 5 of 6 fir bet at Bally's in LV, first casino we stopped in upon arriving, placed a $1 on fire bet and won $250 on that plus $28 on place bets in the from the same roler. The gentleman next to me explained if I learned how to bet I would make more money, when asking him how much he had won net for the night so far he was down ONLY $5200. Didn't take advice from him:)
After winning I took my winning and moved on. One thing we love about Vegas, you can move around and take your winnings. Sooner or later if you stay at a casino too long, they will beat you. That's why they are in business.
Well, now I have the bug, maybe go for a session for New Year's and try my luck.
Happy New Year all!
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Why I like the Fire Bet, revisited
I wanted to revisit this because I've been hearing about players getting lots of payoffs on the fire bet. Several players have reported the Fire Bet hitting for at least 4 numbers at Harrah's Rincon (pays 25 to one).
I had a good experience the other night there when I played craps on a whim at a $5 table with only a small "buy in" and low-level pressing.
Over my lifetime, I have no doubt that I lost a lot of money playing craps. But on the Fire Bet alone I am pretty sure I have a profit... and a nice one.
The other night I won $1250 hitting five points with a $5 bet at Harrah's Rincon in San Diego. Now this was only luck, and no skill involved because Harrah's Rincon is a card craps casino where the results of the dice have no relation to the numbers shown on the cards. For example, a 5-2 on the dice might choose the cards that are 4-4.
On the actual "hand" my profit was only about $350 starting with a $5 passline bet and $27 across, or a total "investment" of $32 plus the $5 Fire Bet. See the thumbnail below of the Fire Bet numbers hit at Rincon, click on the thumbnail to expand the photo.
A couple of months ago, I won $2500 with $10 on the Fire Bet hitting five numbers at Caesars. My profit on the regular craps table bets was about $1300, and this was at a $25 table. See the photo below:
http://www.alanbestbuys.com/sitebuil...20804-1854.jpg
True, I could have won more from "table bets" had I bet more and pressed aggressively but I don't. The fire bet gives "leverage" that no other bet on a craps table can give.
One Fire Bet win of $1250 or $2500 coveres a lot of Fire Bets that don't hit. And when all six numbers are "hit" for a 1000 to 1 payoff, it covers a lot more Fire Bets that you miss.