How Does The Place Bet Work When Playing Craps?

What is a "Place Bet " in Craps?
The Place Bet is to be done after the point is established.  To win a 4, 5, 6, 8, 9 or 10 must be rolled before a 7, else you lose.

What are the Odds of the Place Bet?
There are different payout's in accordance to which number is rolled 4 or 10 pays 9:5, a 5 or 9 pays 7:5, and a 6 or 8 pays 7:6.

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