Do you hedge the yet to be made 6th point fire bet?

[dannyj]

Does anyone lay bet the 6th point on the fire bet in craps after it is established? Or even after the 5th point is established?

Example:
Five points towards the fire bet have been made with a $1 wager locking up a $250 win. Then, say the 9 is needed and established for the 6th point and a $1000 win if repeated.
At this point in the past I have lay betted $300 on the no 9, not wanting the shooter to seven out but hedging the fire.
If he makes the nine I would make a net $700 instead of $1000, but if he sevens out I make $450 instead of $250. Either way I'm golden. Does anyone else hedge or do you let it ride? And, if the wager is more than a dollar I would be even more inclined to do this. Also, when making this bet I whisper it to the dealer to not offend or come off like a killjoy.

[Alan Mendelson]

I've seen it done... not only on the 6th point but also the 5th point. But why?

[mustangsally]

Example:
Five points towards the fire bet have been made with a $1 wager locking up a $250 win. Then, say the 9 is needed and established for the 6th point and a $1000 win if repeated.
At this point in the past I have lay betted $300 on the no 9, not wanting the shooter to seven out but hedging the fire.
If he makes the nine I would make a net $700 instead of $1000, but if he sevens out I make $450 instead of $250. Either way I'm golden.

I do think the Wizard of Odds and maybe some one else did the math on this to find the highest Lay and net return.
If I locate it I will post the link
fire-bet-hedge/
I have not tried out the math

But putting probabilities to your winnings NOT including a Lay vig (I think most all casinos charge for Lay bets up front)

Going for the 6th point (must be nice!)
40% chance of winning $1000
60% chance of winning $250 for a sumproduct of $550

The Lay 9 for $300
40% chance of winning $700
60% chance of winning $450 for a sumproduct of $550

no difference in the average result.

Of course you lose $10 for the Lay vig on a 9 winner when paid up front, so you will NET less than just playing for the 6th point win

your example does not look that good.
That explains Alan's post.

Maybe IF it makes you feel better and that is priceless!

I am off to Harrah's Rincon (and others) for 3 days starting tomorrow!
They have the Fire Bet there I am told.
Yea!

Sally

[ke6cdh]

Yes ricon does have a fire bet. $5 Max or $6 if you bet one for the dealers

[dannyj]

I've seen it done... not only on the 6th point but also the 5th point. But why?

Alan, I guess you can say I am a conservative hedge bettor who would rather guarantee a larger consolation prize in return for a smaller grand prize. I havent done it on the 5th point. Also, the last time I did it at harrahs tahoe, I layed $300 on the 9 (to win $200) I dont remember paying a vig. The shooter sevened out I was paid 250 for the fire and 200 lay bet win with my 300 wager returned.

[dannyj]

Its possible harrahs charged me the vig upfront rather than after the bet won. I honestly dont remember.

[Alan Mendelson]

Only once was I at a table when a player made a "don't" bet on the point to hedge his fire bet. It was at Caesars. The player made a large don't on the fifth point and the shooter made the fifth point. The shooter repeated a number on the next come out so we never got to see a sixth point.