Definition
A Buy Bet is a Craps wager where the player pays a 5% commission (the “vig”) to the casino in exchange for receiving “true odds” on a winning bet. Unlike a standard “Place” bet, which has a built-in house edge via lower payouts, a Buy Bet pays exactly what the math dictates it should.
In context
Suppose a player wants to bet $20 on the number 4. A standard “Place” bet on the 4 pays 9-to-5 ($36 profit). However, if the player “buys” the 4, they pay a $1 commission (5% of $20) and receive the “true odds” payout of 2-to-1 ($40 profit). Even after the $1 fee, the player is $3 better off.
Why it matters
The Buy Bet is a way for savvy players to reduce the house edge on the “outside” numbers (4, 5, 9, and 10). By paying the commission, you change the payout structure to be more favorable, making it one of the better-value bets on a Craps table for high-stakes players.
Related terms
In detail
In the game of Craps, the “Buy Bet” is the thinking man’s alternative to the “Place Bet.” To the casual observer, paying a fee (the commission) to make a bet seems like a raw deal. However, if you understand the math of the house edge, you’ll see that the Buy Bet is often a “discount” on the price of gambling.
The “Place” vs. “Buy” Math
In Craps, the numbers 4, 5, 6, 8, 9, and 10 are the “point” numbers. You can bet on them at any time.
- Place Bet: You are paid at a rate that is slightly less than the true mathematical odds. For example, the true odds of hitting a 4 or 10 are 2-to-1. But the casino only pays you 9-to-5. That difference is where the house makes its money (a 6.67% house edge).
- Buy Bet: The casino agrees to pay you the full 2-to-1 (true odds). In return, you pay a 5% “Vigorish” or “Vig.”
Let’s look at the numbers. On a $20 bet on the 10:
- Place Bet: $20 wins $36. No fee. Total profit: $36.
- Buy Bet: $20 wins $40. $1 fee. Total profit: $39.
By “buying” the 10, the house edge drops from 6.67% to about 4.76% (if the vig is paid upfront) or even as low as 1.67% (if the casino only charges the vig on a win).
”Vig Up Front” vs. “Vig on Win”
This is the most important distinction in modern casino operations.
- Vig Up Front: You must pay the 5% commission the moment you place the bet. If you lose, the casino keeps both the bet and the commission.
- Vig on Win: Many modern casinos (especially in Las Vegas and high-end markets) only charge the commission if the bet wins. This is a massive advantage for the player. It means you only pay for the “privilege” of true odds when you are actually collecting a profit. Always ask the dealer, “Is the vig on the win?” If the answer is yes, you should always buy the 4 and 10 rather than placing them.
When Does It Make Sense to “Buy”?
Mathematically, it only makes sense to “Buy” specific numbers:
- The 4 and 10: This is the “Golden Rule” of Craps. The house edge on a Place bet for 4/10 is a steep 6.67%. Buying them (even with vig upfront) drops it significantly.
- The 5 and 9: This is a toss-up. The house edge on a Place bet for 5/9 is 4.0%. Buying them only makes sense if the casino charges the vig only on a win and allows you to bet in increments where the vig is “rounded down” (e.g., betting $30 so the $1.50 vig is rounded to $1).
- The 6 and 8: NEVER buy the 6 and 8. The Place bet for 6 and 8 has a tiny house edge of 1.52%. Paying a 5% commission is literally paying the casino to give you a worse deal.
Operational Nuances
From behind the stick (the dealer’s perspective), handling Buy Bets requires more precision. A Buy Bet is distinguished from a Place Bet by a small plastic button marked “BUY” placed on top of the chips in the point box.
Dealers also have to manage the “breakage.” Since 5% of a $5 bet is $0.25, but casinos don’t use quarters at the Craps table, the minimum Buy Bet is usually $20 (where the vig is exactly $1). If you try to “Buy” the 4 for $10, the dealer will likely tell you to just “Place” it, because charging a $1 vig on a $10 bet would be a 10% commission—worse than the standard house edge!
The Strategy of the “Power Press”
Players who use Buy Bets are often “aggressive” players. Because they are getting true odds, they often “press” their winnings (adding the profit to the original bet) to reach high stakes quickly. If you have a $25 Buy Bet on the 4 and it hits, it pays $50. You might tell the dealer to “Press it to $75.” The dealer will take another $2 or $3 in vig, and now you are playing for a $150 payout. In a “hot” roll, a $20 Buy Bet can turn into thousands of dollars very quickly because the true odds payouts accelerate much faster than the “discounted” Place bet payouts.