If you have a massive bankroll and can stand to lose lots of money for the thrill of a few big wins, you can probably make high-risk, high-reward bets to your heart's content. Otherwise, it's smart to take only the safest bets - the ones that offer the smallest house edge. By doing so, you minimize your risk - while the house will still have a mathematical advantage, it will be as low as possible.;
, Though there are many, many betting possibilities in the game of craps, the safest bets are, luckily, fairly simple. The simplest, most fundamental bet in the game of craps, the pass bet, is also one of the very safest, with a low house edge of 1.41%. Pass bets pay even money - in other words, if you bet $10, you win $10.With a pass bet, if the come out roll is 7 or 11, you win, while if the come out roll is 2, 3, or 12, you lose. If another number is rolled, this number becomes the "point" and the shooter continues rolling. If a 7 is rolled before the point is rolled again, you lose, while if the point is rolled again before a 7, you win.
Don't make pass bets after the come out roll - this is allowed, but the value of the bet diminishes.
 The don't pass bet is almost the opposite of the pass bet - 2 or 3 on the come out roll win, 7 or 11 lose (12 pushes). If a point is established, you win if a 7 comes before the point and lose if the point comes first. The don't pass bet can be considered one of the single safest bets on the table as the house edge for this bet is only 1.36%.


However, note that most players generally make pass bets, so if you make don't pass bets, you'll win when they lose and vice versa. This can create the table dynamic of you "going against" everyone else, which some people like and some don't.
Like pass bets, don't pass bets pay even money.
 Odds bets are somewhat unique in that they are truly fair - the house has no edge at all on these bets. However, odds bets can only be made on top of other bets, so, if you make an odds bet, the house still has an edge (albeit a diminished one) on your overall wager. Odds bets usually have a maximum bet amount that is some multiple of your pass or don't pass bet - 2X, 3X, 5X, etc. By taking the maximum odds bet every time you make a pass or don't pass bet, you maximize your winning potential and lower the house edge on your overall wager.


Making an odds bet after a pass bet is betting that the point will be thrown before a 7. The odds bet pays 2 to 1 on points of 4 and 10, 3 to 2 on a 5 and 9, and 6 to 5 on a 6 and 8.Making an odds bet after a don't pass bet is called "laying the odds" and is the opposite of a normal odds bet - you're betting that a 7 will be rolled before the point. Laying the odds against a 4 or 10 pays 1 to 2, 2 to 3 against a 5 or 9, and 5 to 6 against a 6 or 8., Come and don't come bets are essentially the same as pass and don't pass bets, except they're made at any point other than the come out roll. In other words, the roll after the come bet functions as the come out roll for the come bet. The conditions for winning a come or don't come bet are the same as those for pass or don't pass bets, respectively. The odds on both are mathematically identical.
 Certain bets carry high house edges and are to avoided by serious gamblers at all costs. Only take these bets for their entertainment value - the thrill of risking your money on a long shot. In particular, put bets and proposition (prop) bets offer very unfavorable house edges, so avoid making these bets if you're looking to make money.


Put bets are essentially pass bets that "skip" the come out roll. In other words, you won't win on a 7 or 11 on the first roll and so on. Since much of a pass bet's value is in the come out roll, put bets can have house edges of as high as 33.3%. However, one mitigating factor is that odd bets can be made on top of put bets, lowering the house edge on the overall wager.
Proposition (or "prop") bets are basically bets made on the next roll of the dice. You bet on a specific number, and if the next roll comes up that number, you win. Prop bets are very risky and thus offer high payouts. However, the house edge is large (from about 5% - 17%, depending on the number you choose), so these bets aren't effective ways to make money.
Always prioritize the safest bets on the table.
Take (relatively safe) pass bets.
For the absolute lowest house edge, take don't pass bets.
Maximize your winnings with odds bets.
Consider also making come and don't come bets.
Avoid risky bets with major house edges.
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