It depends on the type of bet you're making.
Normally, you first roll the dice. If you roll a 2, 3, or 12, you automatically lose. If you roll a 7 or an 11, you automatically win. If you roll any other number, that number is now known as the point and the only way to win is to roll that same number again and the only way to lose is to roll a 7.
There are much more bets you could make, and some of those bets completely remove the house edge. That's why I always laugh at people who claim everyone who goes to casinos are just throwing their money away. If you only make these bets, winning will pay out the same exact odds as the chance of that outcome happening.