Craps Lay Bet Calculator
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.
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
Craps Lay Bet Calculator Formula
The Odds is like a side bet in craps made after a point is thrown. It pays if the point is thrown before a seven. The odds on the Odds are exactly fair, which zero house edge. To be specific, the Odds pays 2 to 1 on points of 4 and 10, 3 to 2 on a 5 and 9, and 6 to 5 on a 6 and 8. The Lay 6 and Lay 8 bets pay out 19 to 25 and have a house edge of 4.00%. The Lay 5 and Lay 10 bets pay out 19 to 31 and have a house edge of 3.23%. The Lay 4 and Lay 10 bets pay out 19 to 41 and have a house edge of 2.44%. Readers might wonder why the lay bets have a posted house edge, if we said earlier that these wagers pay true odds. The vig for the Lay bet is the same as for the Buy bet. Let’s look at an example where you want to Lay a bet on the 8 for $60. If a 7 appears before an 8, you win $50 (i.e., the true odds are 6:5, so a winning $60 payoff is $50). Calculate the vig based on the $50 win amount. $50 x 5% = $2.50, which the casino rounds to only $2.