Overnight I got an email asking if I knew about a $3-million dollar craps win at Caesars Palace in Las Vegas? I don't know anything about it. If anyone has info, please share it.
Is it possible to win $3-million dollars playing craps? Yes, but frankly, it's not likely.
The reason is that there aren't many bets on a craps table that pay huge multiples of the original bet.
For example, in video poker, a $500 bet on a $100/coin machine with five coins in could return $400,000 on a royal flush.
On MegaBucks, a $3 single pull of the handle could return millions of dollars.
But on a craps table, a maximum place bet on the 5 or 9 at Caesars of $50,000 could return $70,000. On the 4 or 10 it would return $100,000 less the 5% vig or commission on the "buy."
My point is, someone would have to risk a lot of money to win $3-million dollars and it would happen over a number of rolls.
The bet limit at Caesars is $50,000 but I am not sure if that includes odds on a come or pass bet? On a place bet the limit is $50,000.
The limits on a hardways bet which can return 10 to 1 is much less. Don't ask me exactly what it is because I'm not a whale and I've never seen mega bets.
The biggest bets I've ever seen at Caesars were $5,000 on a number and I wasn't the better.
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