The number quoted represent two quite different things, and they are both correct, IMO.

"2.x% advantage for the house" means that on the average, for each $100 bet, the house will win 2.x%.

"Almost 50/50" means that for every 50 dollars you bet, you will almost get 50 dollars.

So, it seems to me that these are just two different ways of expressing the same idea.

>You have far more opportunities to win with craps. And...you have better odds in craps.
>
>Evan's right on this one...
>
>< JVP >
>
>>Go back and reread what I said. I am correct.
>>
>>
>>>
>>>Craig,
>>>
>>>Not so. The house has a 5.26% advantage on American roulette wheels (38 spots counting the zero and double-zero) on all bets on the board except the 5-line bet, which carries a house edge of 7.29%. If you can find a European wheel with only a single zero, the house advantage drops to 2.63% on the board.
>>>
>>>Contrast that with craps, playing a single pass line bet with a 1x odds bet behind it -- the house advantage is only 1.41%. At 2x odds, the house advantage drops to 0.85%. At 100x odds (the largest odds bet available in Vegas), the house advantage is only 0.02%. You also generally make fewer bets per hour in craps (about 30 pass line bets/hour versus about 50 spins/hour in roulette), so your "expected loss" per hour with craps is about 20% of roulette played on American wheels. Blackjack is an even better gamble, with an expected loss amount almost identical to craps, more hands per hour (about 100) and a house edge of 0.50% playing basic strategy (which, BTW, varies based on the different rules of each house AND as each card comes out of the deck -- but that's another discussion -bg-).
>>>
>>>If you want to check these numbers, go to www.vegasreference.com and click any game link.