What are Lay Bets in Craps

The easy way to remember what a lay bet is in craps, is by knowing that it is the complete opposite of a buy bet. With a lay bet, the player will choose a number either 4, 5, 6, 8, 9, or 10 for example, and then place a corresponding lay bet in the designated area relative to that number on the craps table. In order to win, unlike a buy bet, a 7 must be rolled before the number chosen by the player.

Just like the buy bet, lay bets pay true odds too, but because this is a buy bet reversed, the payout will also reversed. Players will therefore get 1 to 2 for the numbers 10, 4, 2 to 3 for the numbers 5 and 9, and 5 to 6 for the numbers 6 and 8.

The casino or house will also take a commission, a vig, from the winning bets, just as they do with buy bets, giving them the advantage. The vig is nearly always 5%. Therefore if you were to bet $40 on 4, with a 5% vig, and the shooter happens to roll a 7, you would win $19. Your $40 lay bet pays 1 to 2 true odds, which means the vig has to be deducted from that amount. So if you bet $40 on 4, and the shooter rolls a 7 you win $19. Your $40 pays 1 to 2, which makes you $20. The vig is then deducted from that amount, 5% of $20 equals is $1. You win $19 and you will get $59 back, which equals your winning plus your original bet