Dan, I'm actually playing devil's advocate with you about craps. Yes, I play full odds. Unfortunately the math is deceiving. When we play craps with full odds we don't lose the "pennies" that the math says we should lose. We usually lose, depending on the odds, hundreds or thousands of dollars. ON THE OTHER HAND when we win we win so much more by betting full odds.

I think the important point for everyone to remember is this:

1. Odds betting does not make you win.
2. For each particular "play" it is better to have as much on odds and as little as possible on the flat bet. As an example: it is better to have $5 flat and $20 odds than having $25 on the flat bet with no odds. You do this because the "odds portion" is paid more and flat bets are always paid even money.

I think all the other talk about odds lower the house edge -- as true as it is for mathematics -- means nothing to a player who keeps losing.

And just as a side note, about your video poker analogy: Given the same amount of money, I would rather play Bonus poker because you stand a chance to win more at Bonus poker than you do with Jacks or Better. While Jacks or Better has a higher expected payback on each individual hand, there are more "bigger winners" on Bonus poker without much additional risk.