Lay Bet
A Lay Bet is a wager in the dice game of craps that a 7 will be rolled before a chosen number. It's an advanced bet often employed by experienced players due to its unique pay-off mechanism and the craps strategy it requires. In both land-based and online casinos, the Lay Bet appeals to players who want to take advantage of true odds betting.
Key Details of the Lay Bet in Craps
The Lay Bet in craps is an interesting wager for a number of reasons:
- It is placed on one of the point numbers: 4, 5, 6, 8, 9, or 10.
- It pays true odds, which means there's no house edge.
- Casinos usually charge a 5% commission, also known as 'vig', on the potential winnings.
- The odds and payouts vary depending on the number being laid.
How to Bet a Lay Bet in Craps
Placing a Lay Bet involves communicating with the dealer because it's not a self-service bet. Once you've informed the dealer of your intention to place a Lay Bet and on what number, they will place your chips in the appropriate box on the craps table layout, marked with a LAY label.
How Does a Lay Bet Work?
The fundamental premise of a Lay Bet is that a seven will roll before the number you're betting against. If the dice roll lands a seven before your chosen number, you win. If your number rolls before a seven, you lose. The bet stays active until it either wins, loses, or you decide to remove it.
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Read moreExamples of a Lay Bet in Action
For instance, if you make a Lay Bet of $40 on a 4, you're wagering that a seven will appear before a 4. If you're right, you'll win. However, as you're laying the 4, the true odds are 1:2. Therefore, a winning bet will net you $20. But remember, the casino takes a 5% commission, so you'll actually receive $19.
Tips for Betting on Lay Bet
Lay Bets can be an effective part of a broader craps strategy if you believe a seven is likely to show up before your chosen number. It's crucial to remember the commission factor and how it will affect your winnings. Make sure you understand the game, the odds, and the payouts thoroughly before placing your lay bet.
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Lay Bet Craps FAQs
What does a Lay Bet mean in craps?
A Lay Bet is a wager that a seven will roll before the number you're betting against.
How can I place a Lay Bet?
To place a Lay Bet, you need to inform the dealer, who then sets your bet on the layout in the corresponding box with a LAY marker on top.
How is the payout for a Lay Bet determined?
The payout for a Lay Bet is calculated using true odds, but the casino takes a 5% commission on your potential winnings.
Can I remove my Lay Bet after placing it?
Yes, a Lay Bet remains active until it wins, loses, or if you choose to remove it.
How is a Lay Bet different from other bets in craps?
A Lay Bet is unique as you're betting against a number appearing before a seven, and it pays out using true odds, unlike many other craps bets.
