My biggest pet peeve about the "experts' view" of the game of craps is that the "odds bet" which is also called "free odds" is not free. And it's really not such a great bet to make.
The advocates of the odds bet say it has zero house edge. It also has zero players' edge. But it's still a bet that favors the house (for right way craps players).
In a new Internet column today, gaming author John Grochowski summed it up when he wrote: "Of course, the house is still making money, because you have to make a wager with a house edge to get the opportunity to make the no-edge odds bet."
I think betting odds is worthwhile when there is a likelihood that you will win the flat bet that the odds bet is connected to.
Putting aside dice influencing, you are more likely to win the flat bet with the odds with inside numbers such as 6,8 and even 5, 9.
Odds on the 4 and 10 are longshots.
Too many times I hear players and dealers say "the odds are the best bet on the table." But that just isn't true. Odds on the 4 and 10 have a 1 in 3 chance of winning even though there is no fee on the odds and they are paid at "true odds." The best bets on the table are the ones more likely to win: passline on the comeout, don't pass after the comeout, place six and place 8.
"Odds" for the most part only increase the amount money you are more likely to lose.