Las Vegas legalized casino gaming during the Great Depression in the 1930s. (Photo: las vegas image by charles taylor from Fotolia.com )Related Articles
Over 36 million visitors traveled to Las Vegas in 2009, according to the Las Vegas Convention and Visitors Authority. Casinos located on the main gaming route, known as The Strip, took in over $ 5.5 billion from gaming in 2009. Each casino establishes rules for house gaming tables and games, and the regulations vary widely. Downtown gaming operations traditionally have lower table limits for initial bets, and weekends at all casinos see the minimum bet limits increase for casino visitors.
Wagering on horse racing and lotteries were popular gambling activities in the United States prior to the 1800s, according to California Research Bureau researcher Roger Dunstan. Once minerals were discovered in the far west, gaming in boom cities and river towns became widespread. Gambling was legal in Las Vegas between 1869 and 1910. Despite laws passed against gaming in 1910, illegal gambling took place in Las Vegas before a new law legalized all gaming in 1931. Las Vegas expanded gaming operations to large casinos in the late 1940s.
Betting limits function as a check on individual losses as well as winnings. Gamblers have the opportunity to enjoy gaming, while keeping losses and winnings at one table to a minimum. The American Psychiatric Association recognizes pathological gambling as a type of impulse disorder. Lack of control over gambling is a distinct medical condition, according to the group, that frequently accompanies chemical addiction and depression. Betting limits assist in checking the impulsive behavior associated with pathological gambling. The limits also control the losses for the casino, also known as the house.
While many visitors to Las Vegas focus on the slots, games like craps, blackjack and baccarat draw the more serious gamers. Betting limits vary by the type of gaming. Blackjack card game tables offer various game limits. Initial minimum bets are regulated, as is the amount of each individual bet. The betting amount is called the "stake limit." Casinos regulate the total amount wagered on any given hand in the general public gaming areas. The more upscale the casino, the higher the stake limits, although most casinos have at least one or two minimal bet gaming tables.Time Frame
Las Vegas betting limits are also regulated by the amount of cash converted into gaming chips each day. Circumvention of this type of betting limit is easy to accomplish by allowing others to convert cash for an individual gamer. High rollers invited for high stakes play in special gaming rooms are encouraged to wager, and limits are not imposed on this group.High Roller Rooms
Special rooms, such as the Luxor Las Vegas High Limit room, offer a chance for serious gamers, also known in the industry as "whales" according to Forbes Travel Guide, to play at higher stakes. The special room minimum bid for blackjack, baccarat and roulette is at least double the minimum and maximum bets of the regular casino floor gaming tables. Luxor's High Limit room is open to the general public, but most casinos also operate special gaming rooms open by invitation to the highest rollers.References
Lee Grayson has worked as a freelance writer since 2000. Her articles have appeared in publications for Oxford and Harvard University presses and research publishers, including Facts On File and ABC-CLIO. Grayson holds certificates from the University of California campuses at Irvine and San Diego.
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Las Vegas craps has some of the best odds bets around. On top of this, there are high roller betting limits and huge multipliers when doing the pass line and odds bet combination. In case you didn't know, the odds bet actually pays out true odds and the house has absolutely zero edge against the players. This bet is formally known as the "free odds" bet. The way Las Vegas gets you is with the small house edge with the pass line bet, but in Vegas casinos, players can make odds bet multiples larger than any ordinary casino.Las Vegas Craps - Pass Line and Odds Bet
The chart below shows Las Vegas craps table odds vs. the pass line bet in complement with the free odds bet. In general, the house edge decreases as the table odds increase.Las Vegas Craps Strategy
Notice that when you increase your odds bet multiplier, the house edge decreases. The strategy that should be used in Las Vegas craps is to make as large a bet as possible or a hundred times the pass line bet. Recall that the free odds bet itself has 0% house edge. This table is actually reflecting the combination of the house edge from the pass line bet with the zero house edge from the odds bet, so it's just an average.
Normally in craps, the largest house odds bet you can do is 3x. This is a very typical limit at local casino craps tables and with online casinos. This is what makes Las Vegas craps so special and it improves your strategy.
An even better strategy is the Don't Pass bet with the free odds. The Don't Pass bet is actually the opposite of the Pass Line bet but the house edge is actually 0.15% lower, which is a huge advantage. So the total house edge when combining the don't pass with the free odds bet is only 0.01%, which is microscopically small! This bet is usually not played in the land based casino because you are betting against the craps shooter. This is more of a psychological excuse from peer pressure, but the odds really are better, especially in Las Vegas.High Limits Craps in Downtown Vegas
There are certain downtown Las Vegas casinos offering 100X odds. There are very few craps tables in the world that offer the same kinds of odds so it's pretty amazing. Casino Royale, located on the downtown Las Vegas strip has only a couple craps tables with 100 time odds. Sam's Town, located on Boulder Highway used to offer 100X odds but this has been reduced to 20X odds, which is still rare to find. Another casino located downtown on the strip offers 20 times odds in Las Vegas craps. This place is known as Main Street Station and they have just a few tables as well. Sam's Town resort in Las Vegas has a couple more craps tables than Casino Royale. This just shows how scarce it is to find these kinds of odds.
Below is a short list of other famous casinos located in Las Vegas that offers very high odds betting.
These are just a few of the major casinos located in Las Vegas that offer these kinds of craps odds. In fact, many online casinos offer even these kinds of odds. You can even find 10x odds at a few online craps tables as well. Even more amazing is even 20x and even 100x odds available at a few places on the internet but these craps tables are usually reserved for the high rollers with high bankrolls.
One topic that should be pointed out is the 3-4-5x odds. Many of the casinos listed above have these kinds of odds. Basically when players make the maximum odds bet, payout will be 7 times your original bet while using these odds particularly. Note that this is different than paying the true odds. You are paid 7 times no matter what and the betting limit for these depends on what point number was rolled. This is how it works:
Many of the best craps games can be played at the casinos listed in the chart above. All of these are located in Las Vegas and these are actually some of the best craps in the world. If you are looking for the odds, the chart is all you need. The best casino for craps just depends on what kind of casino you are looking for. For example, some casinos offer better comps programs and services than others or some have better hotels and resorts to stay at. Other factors that determine the best craps tables can even be how friendly the table or environment is and even the cocktail waitresses. It just depends on your tastes.
If you are looking for the lowest betting limits in Vegas, you can find tables with minimum bets of $2, which is great if you have a low bankroll and want to save money. Sunset Station, Boulder Station, Arizona Charlies, Orleans and a few others offers these kinds of tables. Nevada Palace even offers 25 cent chips with very low betting limits. Some online craps tables have 10 cent chips and even $0.01 single penny chips. These are truly micro betting limit craps tables. These low betting limit craps tables provide great fun and a long night of playing without having to worry about losing your bankroll too quickly. Please check out our probabilities of dice numbers being rolled and the payout odds charts for more statistical information.
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