Craps - Strategies and Rules

In Craps the best odds on the table are Pass, Don't Pass, Come, and Don't Come as they give the house the smallest edge. The strategy for all play is take the best odds you can get, nudge them in your favor and play smart.
The Best Bets - A Pass Bet gives the house a 1.41% edge; a Don't Pass yields slightly less than 1.40% to the house. These are the Line Bets and they're the heart of a winner's strategy because everything else gives too much away. Thus Craps is about dice and dice are about percentages. The smart one gives as little away as possible and that means Pass/Don't Pass at around 1.4%. It is also important to remember that Come/Don't Come bets follow the same odds and logic. The only difference being the timing of their placement.
Improving Your Bets - You can do this through the Odds either by Buying Odds when you play "right" or Laying Odds when you play "wrong". These are placed in addition to your initial bet after the Come Out roll. They improve your bet because the house takes no edge on Odds. All you're betting against is the straight dice. But these bets are not marked and are hidden so to speak.

Placing an Odds Bet - An Odds bet is made by supplementing your original Pass/Don't Pass bet by an additional amount after you've made it past the Come Out roll. The bets are placed right beside your initial bet on the Pass/Don't Pass line. In online gaming, they let you bet double your initial Line bet. This is called Double Odds and it cuts their edge to a little more than 40% of their initial edge. So that 1.4% they originally had is now down to about 0.6%. It's a smart play. Buy the biggest Odds you can find because the larger the Odds bet, the more you shave off the house edge on your initial bet.

Buying Odds - When you play "right" and Buy Odds, you're supplementing a Pass bet and if you win you'll get your winnings based on the Point.
Laying Odds - As opposed to the above bet, when you Lay Odds you're supplementing a Don't Pass Bet.
The Strategy - does it work? - Most players prefer playing right and Buy the Odds because the payouts look larger. However, you are playing against slightly higher odds. If you serious about winning take the smaller house edge and grind it out. It is said that playing right and Buying Odds is the more popular and a bit riskier. Playing wrong and Laying Odds is less popular with the Craps players, cuts the house edge to a minimum and is typically for players with a large roll and extended play.
The tested strategy showed that playing wrong and Laying Odds was definitely a better option. Whereas, kicking out for the Double Odds, it is a sound strategy although it may not have the best edge so it is better to not Lay Double on every round.