about lay betting craps

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About lay betting craps online sports betting michigan

About lay betting craps

First I will start off talking about the buy bet. Basically, players can make a bet on the established point numbers at any time. Players will win if the shooter rolls the point number before the seven. The payouts would be excellent because it would be paid by true odds. That means 4 and 10 pays out odds, 5 and 9 pays out odds and 6 and 8 pay out odds.

This is also the actual odds of winning the bet so the house edge is zero! To sum it up, it pays out exactly same way as the pass odds bet for each number. The lay bet works almost the same way, except it is the opposite. This time you wager on the point number and that the shooter will roll a seven before the point. Although, because the seven gets thrown more often than any other number, your payouts are "less than even".

Also, the house edge for 4 and 10 is 2. While the fee is really low, apparently, it is enough to turn the odds in favor of the house. Interestingly enough, when placing a Lay bet, you lay more to win less. The reason for this is simple — 7 is more likely to be rolled than any of the numbers that can be laid. If you find that concept hard to understand, you should continue reading through the following sections.

Similarly to many other wagers in craps, the Lay bet is not a self-service bet and players are not allowed to place the chips for it on the table. Instead, they are required to leave them on the Come bet area of the layout and ask the dealers for assistance. After the chips have been positioned on the table, they will be topped with a Lay button indicating the type of wager. Online players can easily place their Lay bet by placing chips on the corresponding box of the layout.

As mentioned above, an unlimited number of these wagers can be placed at any time during the game. Players can lay one or more of the following numbers — 4, 5, 6, 8, 9 and Once they pick a number to place their Lay bet on, they hope that the 7 will appear before that number in the following rolls of the dice.

If the shooter throws a 7 before the laid number, the bet wins and the player receives a payout. If the laid number shows first, the bet loses. This bet remains independent of the original throw of the dice and it is not resolved until either the 7 or the laid number is rolled. This wager is often preferred by players who notice temporary trends in the game and wish to make the most of them , although in the long-term, the variance will eventually correct itself and such trends are not to be relied upon.

For example, you can lay 9 if you have not seen a 9 to be rolled in a while and believe it would not come out in the following few rolls. An interesting aspect of this type of wager is that it can be turned on or off at any time by the player. In online craps, you can remove or place your Lay bet once again even more easily. This option allows players to remove their wager before it is resolved. The Lay bet is one of the very few wagers in craps where the payout is based on true odds.

This means that the potential winnings of placing such a bet are equal to the risk, which is very rare in casino games. It is important to note that any of the numbers you choose to lay is less likely to be rolled in each following throw of the dice than 7. This is number that has the highest probability to be rolled simply because it has the largest number of possible combinations. It is fairly easy to throw a 7 as there are 6 possible ways to do that — the sides of the two dice can be , , , , , and In contrast, there is only one possible combination for 2, for example, and that is when each die lands on 1.

The possible ways to roll any of the numbers that can be laid are fewer than the combinations for 7. There are three ways to throw 4 and 10, four ways to throw 5 and 9, and five possible ways to roll 6 and 8. All this is important to understand when looking at the payouts for each winning Lay bet as this is typically how the casinos gain a built-in advantage over their patrons.

With the Lay bets, things are different, however. The odds for this wager on each different number can be easily calculated. As there are three ways to roll 4 and 10, the odds against rolling a 7 could be expressed as 3 to 6, or , which is Similarly, the odds of 5 or 9 are , equal to , while the odds for 6 and 10 are All these show that the probability of rolling a 7 is higher than for any other number.

In other words, when placing a Lay bet, players are more likely to win than to lose. As mentioned above, the payouts for winning Lay bets are based on the true odds and, therefore, depend on the number players place their wager on. When 4 or 10 are laid, the payout is If 5 or 9 are laid, the payout will be , while the winning Lay bet on 6 or 8 pays However, as 7 is more likely to be rolled, players need to bet more money to win less.

This concept may be difficult to understand at first, but it is quite straightforward. Two rolls after that, the 7 appears and you win. But how much will you receive if the payout is ? Many players avoid placing this bet because they find it difficult to calculate their potential winnings.

But this is quite simple , in fact. However, the casino will not pay you the entire sum and instead, it will charge your winnings a small commission fee. Lay bets are an excellent choice for players because they pay out based on the true odds. Casinos, however, cannot accept that because, in its essence, it means that on average they will lose more than they will win.

Offering these bets on craps would, then, make no sense for them. This way, you may lose a little bit of money with each of your winning Lay bets. Online casinos, on the other hand, however, tend to pay out the exact amounts, which is why they are a better alternative. The house edge refers to the share of the bet that casinos take on average. Lay bets are not the most popular wagers in craps and many players are confused when they wish to place them.

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If the next few rolls are 11, 5, 9, 3 and so on, nothing happens to your bet. At any point, if a 7 turns up, you win, or if the roll is 6, you lose. Six of those combinations total 7, while 5 total 6, five total 8, four each total 5 and 9 and three each total 4 and The odds in favor or your winning lay bets are on 6 or 8, on 5 or 9 or on 4 or Payoffs are commensurate with true odds.

The commission amounts to 5 percent of the amount you would win if the shooter rolls a 7. Some casinos charge the commission only if your bet wins. If you lay 4 or 10, the house edge is 2. If you lay 6 or 8, the house edge is 4 percent. What if the house charges the commission only on winning bets?

Then the house edge is reduced on all numbers. On 4 or 10, commission on winners only, the house edge is 1. On 5 or 9, commission on winners only, the house edge is 2 percent. On 6 or 8, commission on winners only, the house edge is 2. I am a retired professional and I love to chat about gambling.

I also enjoy reading and can't help but to reply to some fantastic articles. Joined: Mar 29, Threads: 25 Posts: Joined: May 15, Threads: 3 Posts: Buy bets are the flip side of Lay bets. Because the casino bankroll is essentially infinite, the guerrilla strategic imperative to minimize losses suggests taking the small end rather than laying the large end of the bet.

Every great genius is mad upon the subject in which he is greatest. The unsuccessful madman is disgraced and called a lunatic. March 30th, at AM permalink. Sorry for my many daily posts. Joined: Jan 5, Threads: 67 Posts: Thanks for this post from:. Joined: Aug 1, Threads: 15 Posts: April 2nd, at PM permalink.

You should squeeze money out of every dollar you bet. The payouts would be excellent because it would be paid by true odds. That means 4 and 10 pays out odds, 5 and 9 pays out odds and 6 and 8 pay out odds. This is also the actual odds of winning the bet so the house edge is zero! To sum it up, it pays out exactly same way as the pass odds bet for each number. The lay bet works almost the same way, except it is the opposite.

This time you wager on the point number and that the shooter will roll a seven before the point. Although, because the seven gets thrown more often than any other number, your payouts are "less than even". Also, the house edge for 4 and 10 is 2. This bet would be perfect if it wasn't for that commission. The lay and buy bet is almost like a shortcut to the free odds bet, but you have to pay a price rather than just doing it straight from the pass line bet , where you can get around the commissions and also get much better overall odds anyways.

Unfortunately, I could not get a screenshot of where to place this bet on the table because this casino does not support the bet.

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