Craps Laying The Odds
You can use probability to figure out the odds of winning and losing in the popular casino dice game of craps. In the game of craps, on your first roll (called the come out roll), three outcomes are possible: Natural: Rolling a total of 7 or 11 — automatically wins. Craps: Rolling a total of 2, 3, or 12 — automatically loses. I have read many craps strategies, and they all say that laying those odds on the don't is going to increase your edge over time. I guess I understand why they say what they say, but taking $20 to win $20 and turning it into $80 to win $60 sounds like giving the house that little bit of edge back.
Craps Lay Bet Strategy
Craps can be a daunting game for most including ourselves if we are honest and is not a game we normally play but here is the craps lay bet strategy and explanation of what exactly a lay bet is in craps.
Fellas, anybody have any luck with laying the 4 and placing the hard 4? I have been simulating a bunch on 4 different apps and the Wizard of Odds simulator. I have had great success. Start out with a $500 bankroll. $200 Lay on the 4 and $30 on the Hard 4. Come out, 7 gets you $95. ($100 win 5% Vig) When the point is set, 7 gets you $65. Laying odds on the Don’t side requires a bigger bankroll. Making the Free Odds bet on the Don’t side means you have to lay odds rather thantake them, meaning you have to bet more in order to win less, instead of bettingless in order to win more.
When placing lay bets on craps you have no complicated or confusing bet combinations or hedges that are needed. Placing more than one bet will obviously reduce your odds of making a profit.
So what is a craps lay bet?
A lay bet is the opposite of a back bet in craps just like in most games that you can place lay bets on. As always it is also an easy way to get favorable odds of the selection you choose not to win giving you a high strike rate.
A craps lay bet is a bet that a 7 won’t be rolled previous to the number that you have your money on.
So you can choose 4, 5, 6, 7, 8, 9 or 10 and place a bet in the designated area on the table. An example can be seen above in the main picture.
There are 6 ways that the dice can be rolled to total 7!
When this is compared to the 5 ways that a 6 or an 8 can be rolled, the 4 ways in which a 5 or a 9 can be rolled and the 3 ways in which a 4 or a 10 can be rolled you can see why many craps players choose to place lay bets.
These figures are the basis of how much you are favored to win.
- 6 or 8 : odds are 6/5 in your favor; probabilities are 54.55 % you win, 45.45 % you won’t.
- 5 or 9 : odds are 6/4 in your favor; probabilities are 60 % you win, 40 % you’ll won’t.
- 4 or 10: odds are 6/3 in your favor; probabilities are 66.67 % you win, 33.33 % you’ll won’t.
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The downside of lay bets on craps – The vigorish!
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While lay betting on craps offer true odds this gives the casino no edge so therefor they collect a vigorish (vig).
Craps Odds Sheet
To get around this the casino’s take the vigorish which is 5% of all winning bets.
So say you place a lay bet of £40 on 4, and the shooter rolls a 7 then you will win £19. So your £40 pays 1 to 2, which makes £20.
The “vig is deducted from that amount, so 5% of £20 is £1. Your win will be £19 and you will get £59 back, your winnings and the original £40 staked.
Lay Bets are the opposite of the Buy Bets, except Lay Bets are wagering against the shooter. Like a buy bet, a Lay Bet allows a gambler to be paid true odds. To receive those nice votes, the craps player pays a 5% commission on their winning bets. Lay bets are made on one of the “point” numbers: 4,5,6,8,9, and 10.
Lay Bets
That means there are six different lay bets: The Lay 4, Lay 5, Lay 6, Lay 8, Lay 9, and Lay 10 wagers. As an example, to win the Lay 8 bet, the shooter needs to roll a 7 before they roll an 8