Definition
A Lay Bet is a wager in Craps where the player bets that a specific number (4, 5, 6, 8, 9, or 10) will not be rolled before a 7 appears. Because the 7 is the most likely number to be rolled, a Lay Bet is essentially betting “with the house” and against the shooter, requiring the player to pay a commission (vig) to place the bet.
In context
If you want to “Lay the 4,” you are betting that the dealer will roll a 7 before they roll a 4. Because there are six ways to roll a 7 and only three ways to roll a 4, you are the heavy favorite to win. To make this fair, you must “pay for the privilege” by wagering more than you stand to win—for example, betting $40 to win $20.
Why it matters
Lay Bets are important because they offer “true odds,” meaning the payout is mathematically fair relative to the probability of the numbers appearing. However, the casino takes a 5% commission (the vig) on the potential win, which creates the house edge. For “Dark Side” players (those betting against the shooter), Lay Bets are a primary tool for hedging other bets or capitalizing on a “cold” table.
Related terms
In detail
The Lay Bet is the inverse of a “Buy Bet.” While most people at a Craps table are cheering for the shooter to hit their numbers (the “Right Side”), Lay bettors are part of the “Dark Side.” They are the quiet ones in the corner who win when everyone else loses. As a veteran shift manager, I can tell you that Lay bettors are often the most mathematically savvy people at the table.
How the Lay Bet Works
When you make a Lay Bet, you are betting against a specific “Point” number. You can lay any of the following: 4, 5, 6, 8, 9, or 10. The bet is “always working,” meaning it is active during the come-out roll unless you specifically tell the dealer to take it down.
The critical thing to understand is that because you are betting against the number, the math is in your favor. There are more ways to roll a 7 than any other individual number.
- The 4 and 10: There are 6 ways to roll a 7 and only 3 ways to roll a 4 or 10. You are a 2-to-1 favorite.
- The 5 and 9: There are 6 ways to roll a 7 and only 4 ways to roll a 5 or 9. You are a 3-to-2 favorite.
- The 6 and 8: There are 6 ways to roll a 7 and 5 ways to roll a 6 or 8. You are a 6-to-5 favorite.
Because you are the favorite, the casino pays you less than you bet. You “lay” the larger amount to win the smaller amount.
The Cost of Doing Business: The Vig
Since the payouts are based on “true odds,” the casino wouldn’t make any money if they didn’t charge a fee. This fee is called the “Vig” or “Vigorish.” Traditionally, this is a 5% commission on the win amount.
For example, if you Lay the 4 for $40 to win $20, the 5% vig on the $20 win is $1.
- Policy A (The Bad Way): Some casinos charge the $1 vig upfront when you place the bet. If you lose, you lose the $40 plus the $1.
- Policy B (The Good Way): Most player-friendly casinos only charge the vig if the bet wins. If you lose, you only lose your $40. If you win, the dealer takes $1 from your winnings and gives you back $19 profit.
Always ask the dealer, “Do I pay the vig up front or on the win?” The “on the win” policy reduces the house edge significantly.
House Edge Comparison
The house edge on Lay Bets depends on which number you choose and how the vig is collected.
- Lay 4 or 10: ~2.44% (Vig upfront) or ~1.67% (Vig on win)
- Lay 5 or 9: ~3.23% (Vig upfront) or ~2.00% (Vig on win)
- Lay 6 or 8: ~4.00% (Vig upfront) or ~2.27% (Vig on win)
As you can see, laying the 4 and 10 is much better for the player than laying the 6 and 8. This is because the mathematical advantage you have over the 4 (2-to-1) is much stronger than your advantage over the 6 (6-to-5).
Why Players Use Lay Bets
Why would someone want to bet $40 just to win $20? It’s about probability and “Dark Side” strategy.
- Hedging: A player who has a large “Don’t Pass” bet might “Lay the 10” to protect themselves if the shooter starts getting hot.
- Cold Tables: If a table hasn’t seen a “made point” in an hour, Lay bettors will blanket the numbers, essentially becoming the house.
- Volatility Control: Because you win more often than you lose on a Lay Bet, your bankroll doesn’t swing as wildly as someone betting on long-shot “Proposition” bets in the center of the table.
Practical Tips for the Floor
When you want to place a Lay Bet, don’t just throw your chips on the number. Lay bets are “Dealer Bets.” You must place your chips in the “Come” area and say, “Lay the 4 for sixty” (or whatever amount). The dealer will then move the chips to the space above the number 4 and place a “LAY” button on top of them.
Ensure your bet is in the correct increment. To avoid “breakage” (where the casino rounds the vig in their favor), you should bet in multiples that make the 5% vig a whole dollar.
- Laying 4/10: Bet in multiples of $20.
- Laying 5/9: Bet in multiples of $30.
- Laying 6/8: Bet in multiples of $24.
By following these increments, you ensure the casino isn’t taking a larger percentage of your win than they are entitled to.