Individual casinos may pay some of these bets at different odds than those listed below. The payoff odds listed are the most common throughout North American casinos. Actual odds, of course, do not vary.
Proposition bets are generally located in the center of a craps table, and often pay off at high odds but with a significantly higher house advantage.

One roll bets that the shooter will make an 11, or "yo" (pays 15-1, actual odds 17-1); 3, or "ace-deuce" (15-1, actual 17-1); 2, or "snake eyes" (30-1, actual 35-1); and 12, "box cars" or "midnight" (30-1, actual 35-1). A "hi-lo" is a combination bet on 2 or 12, paying 15-1 (actual odds 17-1); the stickman places this bet on the line dividing the 2 and 12 bets.

Bets that a shooter will make a hardway number such as 4-4 (before throwing a 7 or an 8 the easy way such as 6-2 or 5-3). The hard 4 (2-2) and hard 10 (5-5) pay off at 7-1 odds (actual odds 8-1), and the hard 6 (3-3) and hard 8 (4-4) pay off at 9-1 odds (actual odds 10-1).

The Horn is a bet that involves betting on 1 unit each for 2, 3, 11 and 12 at the same time for the next roll. The bet is actually four separate bets, and pays off depending on which number is actually rolled, minus three units for the other three losing bets. Most players do a "Horn High" bet which involves betting an additional $1 on one of the 4 choices, with the most frequent being a $5 "horn high yo" bet (which means $2 on the 11, $1 each on 2, 3 & 12).

A hop bet is a bet on any combination of the dice on the next roll. For example, hard 8 on the hop pays 30-1 (actual odds 35-1) if two fours appear on the dice on the next roll only. "Easy" combinations may also be bet, such as a 3-5 or 2-6, paying off at 15-1 odds (actual odds 17-1). On most craps tables, hop bets do not have a designated space on the layout; instead, they are kept in front of the boxman, often with a "hop" marker placed on top of the chips.

Craps is a bet that the shooter will roll 2, 3 or 12 on the next roll. The true odds are 8-1 and the casino pays 7-1.

C & E is actually two bets. A player is betting one unit on craps and another unit on 11. One of the two bets will always lose, and the other will pay off as above.

Any Seven is a bet that the shooter will roll a seven on the next roll. The true odds are 5-1 and the casino pays 4-1. This bet is also nicknamed "Big Red," since the "7" on its betting space on the layout is usually large and red.

A whirl or world bet is a five-unit bet that is a combination of a horn and any-seven bet. The bet is effectively a push if a 7 rolls, since the 4-1 payoff on the any-seven bet is offset by the other four losing bets.

The field bet is a wager that one of the numbers 2, 3, 4, 9, 10, 11, or 12 will appear on the next roll of the dice. This bet pays 2-1 on the 2 or 12 and even money on the others; many casinos will instead pay 3-1 on the 2 or 12. The house advantage is slightly more than 5%, reduced to 2.7% when the 2 or 12 pays 3-1. This bet is located in a box between the don't pass line and the come box. Unlike the other proposition bets which are handled by the dealers or stickman, the field bet is placed directly by the player.

The Big 6 and Big 8 wagers are considered by craps players as sucker bets because they pay even money while a player can bet on the same proposition (a 6 will be rolled before a 7) by placing the 6 or the 8, which pays 7-6 (true odds are 6-5). Veteran craps players avoid these bets, and some casinos (particularly those in Atlantic City) do not even offer them. These are located in the corners behind the pass line, and bets are placed directly by players.

Most of these bets are very costly and disadvantageous to the player, because the house percentage on these bets can be 11.1% and up. Knowledgeable craps players often restrict their action to either the pass line or don't pass line with full odds. More aggressive players can also bet on the Come/Don't Come with full odds which is statistically identical to the pass/don't pass bet.

Place, buy and lay bets

Players can place or buy individual numbers (4, 5, 6, 8, 9, 10) by placing their wager in the come area and telling the dealer, "place the 6" or "buy the 8". Both are bets that the number will be rolled before a 7. Place bets are paid at odds slightly worse than true odds for the 6 or 8, but significantly worse for the 4, 5, 9 or 10.

Buying the number results in a payoff at the true odds, but requires a 5% commission to be paid to the casino. Traditionally, the buy bet commission is paid no matter what, but in recent years a number of casinos have changed their policy to charge the commission only when the buy bet wins. This change significantly reduces the house advantage, especially on the 4 and 10, where the effective advantage is reduced by two-thirds because the bet wins one third of the time; this reduces the house advantage to 1.67%, making the buy-4 or buy-10 one of the game's better bets. This policy is in effect at most casinos in Mississippi, and an increasing number in Las Vegas.

The commission is paid at the rate of a $1 chip for every $20 wagered, but casinos usually charge only $1 for a $25 green-chip bet, or $2 for $50 (two green chips), reducing the house advantage a bit more. Where commission is charged only on wins, the commission is sometimes deducted from the winning payoff — a winning $25 buy bet on the 10 would pay $49, for instance.

A lay bet is the opposite of a buy bet, where a player bets on a 7 to roll before the number that is "laid." Bets are made in increments of $24 when laying the 6 or 8, $30 when laying the 5 or 9, and $40 when laying the 4 or 10; a $1 commission is charged upfront for each of these increments. Again, the tradition is to charge this commission win or lose, but casinos may opt to charge it only when the bet wins; this is less of an advantage for the player, since the bet wins more often than it loses. Most lay bets are on the 4 or 10.

Examples of basic play

Example 1:

Let's say you put $10 on the pass line. On your come-out roll you get an 11, so you win $10. The game now starts over, with a new come-out roll. You roll a 9, which becomes the point. You decide to bet $10 on the come line before your next roll. On your next roll you get a 6, which is now the point you need to hit in order to win your $10 come bet. Your next roll is a 9, which is the point you needed to hit to win your pass line bet, meaning you just won another $10. You bet $10 on the pass line again, and your new come-out roll is a 7. You win $10 for your pass line bet, but lost the $10 you had previously bet on the come line.

Example 2:

This time you decide to bet on the don't pass line. You roll a 4, which becomes the point. You bet $10 on the don't come line, and your next roll is a 7. You lose your don't come bet, and win your don't pass bet, so you just broke even. Since you just sevened-out, the player to y