In craps, a lay bet pays true odds less a commission, typically 5%. The amount of payment depends on the specific point being laid and the odds associated with it.
A lay bet in craps is a type of wager where the player is betting that a specific number will not be rolled before a 7. It is essentially the opposite of a “place” bet. In a lay bet, the player is betting against the shooter, and if the designated number does not appear before a 7, the bet wins.
When it comes to the payout of a lay bet in craps, it is important to consider the concept of “true odds” and the associated commission. True odds refer to the actual probability of a given outcome occurring in a game. In the case of a lay bet, the true odds are the opposite of the odds associated with a particular number being rolled before a 7.
However, casinos typically charge a commission on lay bets, usually around 5%. This commission is based on the potential winnings and is subtracted from the payout. For example, if the true odds of a specific point being laid are 2:1, the payout would be subject to the commission.
To illustrate this further, let’s consider an example. Assume that a player decides to lay the number 4 for $50. If the true odds for laying the 4 are 1:2, the potential payout without the commission would be $100. However, with a 5% commission factored in, the actual payout would be $95 ($100 – 5% commission).
While specific lay bet payouts can vary depending on the point being laid and the commission rate set by the casino, it is essential to be aware of the specific odds and commission structure for each bet.
Now, to add an interesting quote on the topic:
“The odds of hitting a point are always better than the odds of the point number rolling before a 7, and that’s why the house charges a commission on lay bets.” – Anonymous
Here are some additional interesting facts about lay bets in craps:
- Lay bets are considered as “dark side” bets in craps, as they go against the majority of players who prefer to bet with the shooter.
- The most common lay bets in craps are against the numbers 4, 5, 6, 8, 9, and 10.
- The specific payouts and commission rates for lay bets can vary between different casinos.
- Lay bets are generally not recommended for beginners, as they involve a more complex understanding of the game and its odds.
- The profitability of lay bets depends on the frequency of the number 7 being rolled in relation to the specific point being laid.
Table: An example of lay bet payouts for different points (assuming a 5% commission)
| Point | True Odds | Payout (with 5% Commission) |
|---|---|---|
| 4 | 1:2 | $95 |
| 5 | 2:3 | $63.33 |
| 6 | 5:6 | $47.50 |
| 8 | 5:6 | $47.50 |
| 9 | 2:3 | $63.33 |
| 10 | 1:2 | $95 |
Please note that the table is for illustrative purposes, and actual payouts may vary depending on casino rules and specific odds.
Answer in video
The video provides an explanation of the lay bet, place bet, and buy bet in craps. It states that the lay bet is betting on the number seven before another specific number, the place bet is betting that a specific number will be rolled before a seven, and the buy bet is betting on specific numbers with a higher payout if won. The video advises against buying anything inside and mentions the presence of a tax or vig on these bets, which can be paid either at the end of a win or upfront. It concludes by reassuring viewers that craps is not as complicated as it may appear.
There are other points of view available on the Internet
0:512:43How to Make Lay Bets in Craps | Gambling Tips – YouTubeYouTubeStart of suggested clipEnd of suggested clipRight. So with that you would just pay a commission of $1. Some casinos will let you you know payMoreRight. So with that you would just pay a commission of $1. Some casinos will let you you know pay the Commission a little bit before.
A lay bet is a craps bet that a seven will be rolled before a specific number. It is sometimes called a “No” bet, because it bets against the number. A lay bet is not a self-service bet, meaning that players need to ask the dealers to place it for them on the table. A lay bet pays ‘true odds’, which means that there is no house edge on this bet.
A lay bet is a craps bet used at online casinos to get ‘true odds’ on a seven being rolled before a specific number being rolled. Generally, your lay bet will get placed after the point number is rolled. You can place a lay bet on the opening roll, but it’s ill advised.
The Lay bet is sometimes referred to by players as a “No” bet – when they lay a number, they bet that it will not show up before 7 is rolled. Similarly to many other wagers in craps, the Lay bet is not a self-service bet and players are not allowed to place the chips for it on the table. Instead, they are required to leave them on the Come bet area of the layout and ask the dealers for assistance.
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How much do lay bets pay in craps?
Percent five dollars on your $100 win a $40 lei bet on the four or ten. If. It if the seven rules first you would win $20. In the Vig for that $20 is 5% or $1.
How much do you win on a lay bet?
In reply to that: Your return for a win is effectively your stake (minus commission). A lot of people prefer to lay at odds-on as your liability is then reduced. For example, if you lay a bet at 1.50 for £10 you are liable for £5 and will win £10 if the bet wins.
What is the best lay bet strategy?
The answer is: One of the best is back-to-lay: taking both sides of the bet to back and lay the same selection following a price movement either to lock in a profit or minimise your potential loss. With a back-to-lay strategy, you’re not necessarily looking for a selection that you think will go on to win.
How do you make money on a lay bet?
Response to this: Lay Betting in Football
With lay betting, you are betting on any other possibility. For example, if you place a lay bet on Team A, you will make a profit if Team A loses or the game ends in a draw. Placing a lay bet on a tie will return a profit if either team wins.
What is a lay bet in craps?
In craps, a lay bet pays true odds, but you must pay a 5% commission to the house on any winning bets. How does a lay bet work? A lay bet is a bet against a specific number being rolled before a 7 is rolled. Can you take down lay bets in craps? Lay bets can be taken down or reduced at any time. What is difference between lay and buy in craps?
What are the best odds to lay a craps bet?
The best numbers to lay are a 4 and 10 because the house edge is only 2.44%. Lay bets offer true odds. Most bookmakers charge a 5% potential win on winning bets with true odds, while others charge it whenever you lay or buy a bet. Laying and buying odds is one of the best craps betting strategiesthere is.
Do Lay bets offer true odds?
Answer: Lay bets offer true odds. Most bookmakers charge a 5% potential win on winning bets with true odds, while others charge it whenever you lay or buy a bet. Laying and buying odds is one of the best craps betting strategiesthere is. You can only add Free Odds bet if you have an active Pass, Don’t Pass, Come, and Don’t Come bet.
Why does the Vig go up in a craps lay bet?
Answer to this: This is because the vig goes up due to the payout. The craps lay bet is considered a “dark side strategy.” Other players tend to make fun of you at actual tables and it’s even considered bad luck in some circles. You’re winning with other players and most other bets lose. After the first roll, a point bet is established.
What is a lay bet in craps?
In craps, a lay bet pays true odds, but you must pay a 5% commission to the house on any winning bets. How does a lay bet work? A lay bet is a bet against a specific number being rolled before a 7 is rolled. Can you take down lay bets in craps? Lay bets can be taken down or reduced at any time. What is difference between lay and buy in craps?
What are the best odds to lay a craps bet?
The best numbers to lay are a 4 and 10 because the house edge is only 2.44%. Lay bets offer true odds. Most bookmakers charge a 5% potential win on winning bets with true odds, while others charge it whenever you lay or buy a bet. Laying and buying odds is one of the best craps betting strategiesthere is.
Would a lay and buy bet be a good bet?
This bet would be perfect if it wasn’t for that commission. The lay and buy bet is almost like a shortcut to the free odds bet, but you have to pay a price rather than just doing it straight from the pass line bet, where you can get around the commissions and also get much better overall odds anyways.
Why does the Vig go up in a craps lay bet?
As an answer to this: This is because the vig goes up due to the payout. The craps lay bet is considered a “dark side strategy.” Other players tend to make fun of you at actual tables and it’s even considered bad luck in some circles. You’re winning with other players and most other bets lose. After the first roll, a point bet is established.