The way I understand it, you win on a 2 or 3; lose on a 7 or 11; push on a 12; go to point phase for 4-6 8-10. So that means you can win on 2 numbers, lose on 2, push on 1, and go to 50:50 odds with the others. Seems like the house doesn’t have an advantage. (As opposed to the Pass, where you lose on 3 and win on 2 in the come out.)
In: Mathematics
The odds are complicated, but a pass line bet has about a 49.3% chance of winning, where a don’t pass bet has about a 47.9% chance of winning and about 2.8% chance of pushing (getting their bet back).
The house advantage is slightly lower for the don’t pass bet, but both are quite low for a casino game.
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