[Poshua]

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The dealers should take all your place bets "off" (that is, inactive) before the come out roll. However, it is possible to turn the bets back on. It's generally not statistically significant one way or the other. Actually, I can't think of a reason not to keep those bets on during the come-out roll.

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FYP.

Unless the shooter is a skilled precision shooter who is going for 7s on the comeout, it makes no difference whatsoever if your place bets (or come point odds bets) are working or not. If the the dice are being tossed randomly, then it is irrelevant as to what is working or note - the probability and payouts do not change.

AB

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Actually, leaving the odds bets 'on' for your come bets reduces your house edge slightly, as discussed by the Wizard of Odds. The reason is that there's no house edge on the odds bet, while there is an edge on the underlying come bet. If the odds bet is on every roll, a larger percentage of the money you're risking is at no edge on any given roll, reducing the blended house edge. This is unrelated to precision shooting.

That said, the effect is not very large, and I personally usually leave the odds off. I think the reason the casino defaults to odds/place bets 'off' is to align players interests; craps is more fun when everyone at the table wants the same thing, and leaving the place/odds bets off on the come out roll generally means everybody's happy to see a 7.

For note, while leaving the come bet odds on reduces your blended house edge, it does not change your expected loss. This is because the reduction in the edge is exactly offset by the increased amount you are risking. More broadly, making odds bets with zero house edge improves your blended house edge and increases variance, but has no impact on expected loss.