The Hardway Bet
Named that way because it's a hard way to win, just kidding, but the hardway bet has some pretty horrible odds, so I recommend you stick with pass line bets with odds for the most part. Actually the 'hard' bit derives from the doubles involved. To roll a 'hard eight' means to roll it with double 4's, to roll a 'hard 6' means to roll it with double 3's. So in craps the only hardway bets that exist are a hard 4, 6, 8, and 10. When you make a hardway bet your betting that the hard version of what your betting on will come up before the soft version, or a seven. The soft version is the opposite of the hard version. Two threes is a hard six, but a 4 and a 2 is a soft six.

Odds are not completely consistent from casino to casino on the hardway bets but generally they go like so: a hard 4 pays 7 or 8 to 1, a hard 6 pays 9 or 10 to 1, a hard 8 pays 9 or 10 to 1, and a hard 10 pays 7 or 8 to 1.

Hardway bets are usually placed to add a little spice to the game, not in any effort to win more money. This is emphasized by the fact that the house edge is something atrocious on these bets. For a 4 or 10 the hard way, there is an 11.1% house edge, for a 6 or 8, it's around 9%.

Proposition Bets
Proposition bets are the ones you can make in the middle of the table, and exist only on the 'next roll'. As one roll bets they can be heart racing and exciting, an integral part of the craps experience.

These bets include:
"any seven" bet
"snake eyes" bet
"yo eleven" bet
"any craps" bet
"any three" bet
"midnight" 12 bet
"horn" bet

These bets are all simple to make, and I'll walk you through them so there is no confusion. The previously mentioned hardway bet and field bet are also considered proposition bets, they are separated here as they are much more common. Each and every proposition bet has a pretty nasty house edge, so before you make any of these bets, feel comfortable.

With the "any seven" bet you're betting the shooter will hit a 7 on the next roll. Horrible house edge, never make this bet.
With the "snake eyes" bet you're betting the shooter will throw a two on the next roll.
With the "yo eleven" bet you're betting the shooter will hit an 11 on the next roll.
With the "any craps" bet you're betting the shooter will throw a 2, 3, or 12 on the next roll.
With the "any three" bet you're betting the shooter will throw a 3 on the next roll.
With the "midnight" bet you're betting the shooter will throw a 12 on the next roll.
With the "horn" bet you're combining the snake eyes, 3, yo 11, and midnight bets.

Just to illustrate the horrible house edge on many of these proposition bets I have provided a table:

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