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Dice Control for Casino Craps / Gambling Disciples of God |
From Chapter 2
Craps Lay Bet
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In This Chapter
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Lay Bets
The Lay bets are used by the wrong bettors to cover the point numbers – a 4,5,6,8,9 or 10. They are opposite to the Buy bets. The Lay bet wins when a 7 is rolled before a point number comes up. It is a loser, if a point number repeats before a 7 is thrown.
To lay the bet against any particular point number you have to lay the “true odds”. If you lay against a 4 or 10,you have to lay $40 to win $20 in accordance with the true odds of 2 to 1. You have to lay $30 to win $20, if you lay against a 5 or 9, because the correct odds are 3 to 2. The true odds in case of a 6 or 8 are 6 to 5, and the amount of your bet should be $24, if you want to win $20.
The Lay bets are paid off at the correct odds. That’s why the house charges a player a 5% commission. The 5% are calculated on the projected win instead of the bet amount. In all the examples above, the payoff is $20 and the 5% from that payoff are $1. Due to the 5% commission charge, the house enjoys a 2.44% advantage on the Lay bet against a 4 or 10. It has the 3.23% edge in case of a 5 or 9, and the percentage for a 6 and 8 will be 4%.
When you’re ready to make a lay bet, you put your chips on the layout and tell the dealer what point number you want to lay against. The dealer will collect a commission and place the chips in the designated area in the appropriately numbered box. The small “Lay” button will be put atop the chips to distinguish them from the Don’t Come bets.
Since the house has $1 chips as the smallest denominations, you have to make your lay bet in the multiples of $40, if you lay against a 4 or 10 – otherwise you’ll be overcharged. You have to use the multiples of $30 for the numbers 5 or 9 and the multiples of $24 for a 6 or 8.
The Lay bets can be made at any time, and they are always working. The Lay bets can be removed, reduced or increased at any moment prior to a roll.
Copyright Progress Publishing 1998