I am not sure what the advantage of playing the come bet instead of a place bet. Which is better odds and why?

Play the don't pass and lay max odds. Sit and be patient.

When you do a place bet, you are not getting paid at the true odds of hitting the number before a 7.
If you make a come bet, you can win on a 7 or 11 and if it gets moved to a point number, you can take odds on your bet and get paid based on the true odds of hitting the number.

Simple example,

You have $15. You can bet $5 on the come. Lets say a 4 is rolled. You use your other $10 and take the odds.
If you win, you'll get $5 for the come bet and $20 for the odds (plus you gave yourself the chance to win on a 7 or 11 on the original roll.)

I don't know exactly what the payout would be on a place bet since I never them but you won't win $25 if you make a place bet of $15 on the 4 or 10.

In fact, I think for the 4 or 10, it is a little cheaper to do a buy bet rather than a place bet.

You can check out wizardofodds for more info on all the craps bets.
A place bet on a 6 or 8 is not so terrible.
Every other bet on the table is pretty bad. So you should stick to pass line/come and odds bets or Don't pass/come and odds bets.

Place 4 or 10 pays 9:5, so a bet of $15 will pay $27.
People often think.. hey, my come bet of 15 (5 on the line, $10 odds) only payed $25, I should have just placed the four! This starts endless arguments. But remember, these are really not the same bet. The come bet also has a chance to win on the first roll on a 7 or 11. When you happen to get a 4 on the come out roll for the come bet, you should not be happy, because now you are a 1:2 dog on come bet. You then take free odds to offset this a bit.

Place the 4 or 10 for $15 pays $27. Buy the 4 or 10 and it pays $30

Minus your $1 commission. Which makes a $15 bet pay $28. If commission if you win, $15 wins you $30, minus a buck. $15 pays $19.

Actually, according to WizardOfOdds a Buy pay 39 to 21. Should it not be 21 to 40 ($21 staked, $1 taken for comission, a win pays true odds of 2 to 1 for 40?). Or am I missing something? Normally am.

A place bet is the same as a come bet with 5X odds, AFTER the come-out roll.

That I don't understand.

A place bet is generally one unit flat with four units odds (4,5,9,10) or one unit flat with five units odds (6,8). If you wanted better odds, because they were offered, you would have to do a put bet.

I won 6hundo at craps at the Borgata again, i can't lose there. who needs systems or dice setting?

I meant 4X odds. In places that offer higher odds, you can make put bets which will decrease the house edge of the place bets.

example: $75 on 5/9 pays 105, $5 with $70 odds pays 110.

6hundo -- is that, like, 0.6 large?

And you've done it twice?

More details might make it impressive.

Because, of course, I get back $60, which is a $39 profit from my $21 paid.

Durgh.

Why would you lay odds? You have an advantage after the point is up... why water it down?

You actually need to "water down" the cost of making the bet by gambling up more money on the fair (+0% house edge) bet (i.e., laying odds).

You'll decrease the overall house edge (-1.4% on the DP/DC bet) down to zero as you increase the odds bet. (House edge approaches zero as odds bet approaches infinity.)

You have to gamble more to get better odds. What most people do is bet the minimum on DP/DC, and save the gambling money for the odds.

Sure, it's nice to bet $50 on DP/DC, and the next roll is a 4/10. It's pretty close to rolling a 2 or 3 But, on average, you'll lose 1.4% of that $50 bet, or the bet "costs" $.70 to make. So the better way to get $50 in action is to bet $5 on DP/DC, and when the point is made, lay $45 odds on your initial $5 bet. This way, the cost is 1/10th of what you would have paid. Sure, $5+$45 DP against a 4/10 only pays $5+$22.50, whereas $50 DP against a 4/10 pays $50, so maybe the cost should be normalised to the return. Still, it's 5x cheaper to lay odds then bet it all on DP/DC.

$10 place bet wins you $9