3 - Ace Deuce Bet
Ace Deuce, also known as Three Craps, is just another name for rolling a 3 since the dice will always contain a 1 and 2, which is basically an ace and a deuce. This number comes up as frequently as rolling an 11 but it has better odds than rolling a 2 or 12. Really, this is a really simple bet to make and it is included as a proposition bet.
The odds of the shooter throwing a 3 is actually 2 in 36 (17:1). Though, the payout is only 15:1 which makes a pretty large house edge. The house edge turns out being 11.11% which is fairly high but still better than some of the other single throw wagers. The goal is to have the shooter to throw a three and the player will win $15 for every $1 wagered.
I took a screenshot and uploaded it below so you can see where the ace deuce bet is located on the craps table layout. As you can see, it is part of the proposition betting box which would be located in the middle of the table. Note that this is a single roll bet, meaning that the shooter must roll a 3 on the very next roll or else you lose your bet.
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