To begin, each player places three equal bets out, for instance, three $5 bets, or $15. Next, three cards are dealt face-down to each player and two face-down to the dealer. Once all the cards have been dealt, you can look at your cards.
After looking at your cards, you make your first decision: You can ask for your first bet back, or you can decide to "Let it Ride" and leave it out. Players are not allowed to show their hands to the other players.
After all the players have decided on what to do with the first bet, the dealer turns over one of his two cards. All the players will use this card as part of their final 5-card poker hand.
Once you've seen the card, you now decide whether to take your second bet back or to "Let it Ride" again. You can only change your second bet at this point, whatever you decided for your first bet sticks -- you can't change that now. You do not get to change your third bet.
Again, after all the players have decided on their second bet, the dealer turns his second card face-up. This card will complete every player's 5-card poker hand.
An easy way to learn how to play craps is to take advantage of the free lessons offered by many of the casinos. The instruction will give you the basics and also show you some of the table etiquette that will make you feels more comfortable approaching the table.
If you have a winning hand -- a pair of 10s or better, you win and are paid on the bets you have "let ride." If you let all of them ride, you'd get paid 3 times, if you pulled back your first bet, you'd get paid 2 times, and if you pulled back all but your third bet, you'd only get paid once. If you don't have a winning hand, the dealer takes all of the bets you left on the table.
Pair of 10's or Better -- 1 to 1
Two Pair -- 2 to 1
Three of a Kind -- 3 to 1
Straight -- 5 to 1
Flush -- 8 to 1
Full House -- 11 to 1
Four of a Kind -- 50 to 1
Straight Flush -- 200 to 1
Royal Flush -- 1,000 to 1
If you have a pair of 10s or better in your 3 cards, you should let all bets ride -- you are already a winner!
When you look at your first three cards, also let your first bet ride if you have:
Any three cards to a royal flush
Three cards to a straight flush that are connected (i.e. 5,6,7) or spread 4 or 5 apart such as 4,5,7 or 7,9,J.
When the dealer reveals his first card, let your second bet ride if you have a winning hand or:
Any four to a flush.
Any four to an outside straight. (i.e. 6,7,8,9)
Any four to an inside straight with high cards, i.e. 10, J, K, A