"Any Craps" is a very popular bet in almost every craps game. If there are a lot of pass line bettors, then many of them will want a "hedge" bet — which is where the any craps bet comes in.
On the pass line, you will win with a seven or 11 on the come out, but you’ll lose with a two, three, or 12. These three numbers are the "craps" numbers and a bet on any craps is a combination bet on all three numbers.
For example, if you bet $1 on "Any," (the dealer will assume that "any" means any craps) you will win if a two, three, or 12 rolls. Assuming you have a bet on the pass line, this means that instead of losing your pass line money, it is "hedged" (or balanced off) by your winning any bet.
OK so far? Good! Now, let’s look at a few examples.
Let’s say you have a $10 bet on the pass line and the dealer asks "Any craps," and you toss him a white chip ($1). He places it in the "C" circle (for Craps) in the center spread layout which points to your position on the table. Now you have two bets working and one of three things will happen on the very next roll — (1) A seven or 11 rolls — You win your pass line bet ($10) and lose your any craps bet ($1) so your net win is $9 instead of $10. (2) A point rolls so you stay on the pass line but lose your any craps bet, so you lose $1 and wait for a decision on the pass line. (3) A craps number rolls — either two, three or 12. You lose your pass line bet ($10) but win your any craps bet ($1), which pays seven-one. So instead of losing $10, you only lose $3 ($10 - $7).
If you are a green chip ($25) player you have to bet a little more — $3 instead of $1. Let’s see what happens now — (1) a seven or 11 rolls —you win your pass line bet ($25) and lose your any craps bet ($3) so your net win is $22 instead of $25. (2) A point rolls so you stay on the pass line but lose your any craps bet, so you lose your $3 and wait for a decision on the pass line. (3) A craps number rolls — either two, three or 12. You lose your pass line bet ($25) but win your any craps bet ($3) which pays seven to one. So, instead of losing $25, you only lose $4 ($25 - $21).
Whether you play the "any craps" hedge bet is up to you. You might ask the other players about the shooting habits of the shooter — if he normally throws sevens on the come out, you don’t need a hedge. But to some people it’s worth the peace of mind to have just a dollar on "any craps!"
And, as always, good luck at the tables!