Craps is considered to be the most exciting game in any casino. There are a variety of wagering options and, as a result, it can be a complicated game. There are, however, some simple bets you can make to start and you can learn the rest as you go.
- Lay betting is an option on exchanges like Betfair where bettors can play the bookmaker, offering odds to sell a bet instead of to back a bet. It is one component of matched betting, where punters both back and sell bets on the same game to guarantee winning. It is a type of bet that is placed when you are selling a bet, rather than buying a bet.
- Lay betting is an option on a betting exchange which allows gamblers to play the role of a traditional bookmaker. You set the odds of the bet, and you potentially win the backer’s stake if the selection loses. If the selection wins, you lose the backers stake multiplied.
- Lay Bet House Edge. Wagering on the numbers 4 and 10 is considered the best approach while the game of craps is in full swing at a brick-and-mortar casino or online. This is the case since players should also consider the house advantage coming with each and every craps bet.
Each bet is dependent upon the Point value of the uppermost side of two dice that have come to rest after being thrown by a Player or “Shooter.”
No partnership may exceed the table maximum.
TERMINOLOGY & PLAY OF THE GAME
A. PASS LINE:
Lay bets in craps are the opposite of place bets for the “right” bettors who bet with the shooter. Before the explanation, one aside: Don’t let the “Dark Side Craps” and “Wrong Craps” nicknames get to you.
If you place a bet on the Pass Line and the first roll of the dice (known as the “Come Out Roll”) is a 7 or 11, you win. If a 2, 3 or 12 is rolled, you “crap out” or lose. Any other number rolled (i.e. 4, 5, 6, 8, 9 or 10) becomes the Pass Line “Point.” Pass Line bets win if the Shooter rolls the Point before rolling a 7. If a 7 is rolled prior to the point being made, the Shooter “sevens out” and the Pass Line Bet loses. The Shooter continues to roll the dice until he or she sevens out, whereupon the dice pass to the next Player. You need not be the shooter to make a Pass Line Bet.
B. DON’T PASS:
The Don’t Pass Bet is the opposite of the Pass Line. That is, the bet wins on the Come Out Roll if a 2 or 3 is rolled, and loses if a 7 or 11 is rolled. A roll of 12 is a stand-off on the Don’t Pass Line. Any other number rolled becomes the Point. To win, a 7 must roll before the Point is thrown. If the Point is rolled prior to a 7, the bet loses. As before, you need not be the Shooter to make this bet.
C. COME:
You can bet the “Come” at any time after a Point has been established. The win-loss rules are the same as for the Pass Line. The next roll of the dice determines whether you win or lose, or establish a Point which must be rolled before a 7 to win. The Come Bet and Point are independent of the Pass Line Point.
D. DON’T COME:
The Don’t Come Bet may be made any time after a Pass Line Point has been established. The win-loss rules are the same as for the Don’t Pass, but the win, loss or determination of the Point is established by the next roll of the dice. Like the Come Bet, the Don’t Come Bet allows a Player to bet on each roll of the dice. Pass Line, Don’t Pass, Come and Don’t Come Bets are paid even money. Pass Line and Come Bets cannot be removed or reduced after a “Come Out Point” or “Come Point” has been established, however, they may be increased. Don’t Pass and Don’t Come Bets may be decreased or removed at any time but never increased or replaced. ODDS: A player may elect to make a wager in addition to the original or “flat” bet any time after the Point is established. A Player may “take” odds on any Pass Line or Come Bet. A Player also may “lay” odds on any Don’t Pass or Don’t Come Bet. All odds bets may be removed or reduced at any time. Odds are paid based on true odds and win if the flat bet wins and vice versa.
E & F. BUY & LAY BETS:
Buy and Lay Bets pay odds without requiring a flat bet and may be made directly on a 4, 5, 6, 8, 9 or 10 at any time without waiting for the number to roll the first time. The Buy Bet is a bet that the number will roll before a 7. A Lay Bet is a bet that a 7 will roll before the number. In either case, the wager is paid according to true odds as shown on the accompanying table. A 5% commission or “vigorish” is charged on all Buy and Lay Bets, either on the amount bet, if it is a Buy Bet, or on the amount that can be won, if it is a Lay Bet. If no decision is made on a Buy or Lay Bet and the Player wishes to take the bet down, the vigorish will be returned to the Player.
G. PLACE BETS TO WIN:
You may make a Place Bet on 4, 5, 6, 8, 9 or 10 at any time. Please refer to the accompanying chart for Place Bet odds. All odds, Buy Bets and Place Bets may be increased, decreased, taken back by the player or called “off,” or not working, at any time. Come Odds, Buy Bets and Place Bets to Win are always off on the Come Out Roll unless designated otherwise by the Player. The Player is responsible for placing all odds and keeping track of all bets.
H. FIELD:
If 2, 3, 4, 9, 10, 11 or 12 is rolled, you win. All numbers pay even money except 2 and 12 which pay double. The following are bets that may be made on any roll and they win or lose depending upon the outcome of the next roll of the dice. They win if the number or numbers bet rolls, and lose if any other number rolls. These bets are found in the center of the layout and are placed by the Dealer. Although the Dealer will place many bets for you, it is the player’s responsibility to ensure that the bets are placed properly.
I. PROPOSITION BETS:
Any 7: If 7 rolls, you win and are paid 4 to 1.
Any Craps: If 2, 3 or 12 roll, you win and are paid 7 to 1.
Two Craps Or Aces: If two aces or 2 is rolled, you win and are paid 30 to 1.
Twelve Craps: If two sixes or 12 is rolled, you win and are paid 30 to 1.
Three Craps Or Ace-Deuce: If ace-deuce or 3 is thrown, you win and are paid 15 to 1.
Eleven: If 11 is rolled, you win and are paid 15 to 1.
Craps Eleven: If 2, 3, 11 or 12 is rolled, you win according to the payout odds, less the amount bet on the losing numbers.
HORN BETS: Horn bets are simply one unit bets on 2, 3, 12 & 11. The payoff is according to the payout odds for that number and the number of dollars effectively wagered on that number less the amount bet on the 3 losing numbers.
HORN HIGH BETS: Horn High Bets are typically bet in units of five since you are effectively betting one unit on 2, 3, 11 and 12, with one additional unit bet on one number. For example, $5 Horn High 12 has one dollar bet on 2, 3 and 11 and two dollars bet on 12. If one of these four numbers rolls, the payoff is according to the payout odds for that number, less the amount bet on the three losing numbers. A Player may also make a Horn Bet which is simply one unit each on 2, 3, 12 and 11. If one of these four numbers rolls, the payoff follows the same rules as for Horn Bets.
HARDWAYS: Hardways Bets are located in the center of the layout and are placed by the Dealer. They may be bet on any roll. The four possible Hardways: Hard Six (two 3’s) and Hard Eight (two 4’s), pay 9 to 1; Hard Four (two 2’s) and Hard Ten (two 5’s), pay 7 to 1. You win if the Hardway you are betting rolls before a 7 or a non-pair combination of the number bet. Hardways are always off unless you designate the bet to be in action on the Come Out Roll.
Lay betting is the opposite to ‘traditional’ betting. With lay betting, you bet on a team not to win instead of backing them to win. Lay bets can only be placed at an online betting exchange, like Betfair. This guide will show you how important lay betting is to the matched betting process and how it’s not as complicated as it sounds!
What is a lay bet?
Lay betting is an option on a betting exchange which allows gamblers to play the role of a traditional bookmaker. You set the odds of the bet, and you potentially win the backer’s stake if the selection loses. If the selection wins, you lose the backers stake multiplied by the price of the selection (minus the stake amount).
Lay betting explained
![Lay Lay](https://www.casinoanswers.com/wp-content/uploads/2010/03/craps-table.jpg)
You’ll often see people asking what lay betting is. On first impressions, it can look complex – but it really isn’t. A simplistic way to think about it, is that when you place a lay bet on a selection, you are betting on it not to win.
This is a particularly relevant bet to make in a market that has 3 or more selections. Take a horse race as an example.
Your best friend’s dad has a milkman that apparently knows the cousin of someone who cuts the hair of a famous jockey. The hot news is that a famous horse has come down with a mysterious illness.
You spot an opportunity to make some money. In the old days, this would be a very difficult process that involves backing all of the other horses in the market for varying amounts.
Thanks to lay betting though, you can take someone else’s bet on that horse. Just as long as that horse fails to win, you win. This can be seen in the below image, with the red number showing your potential loss if that selection wins, and the green numbers your potential win if those selections win the race. The horse with the £255 liability is the horse with the lay bet.
How to place a lay bet with Betfair
Now you know what a lay bet is, it’s time to learn how to place one. We’re going to show you step-by-step how to place a lay bet so you can take advantage of these benefits.
We’re using Betfair for our example, but the on screen layout at all betting exchanges is similar. What you will notice are two different boxes. The blue box is your traditional back bet, and the pink one a lay bet.
For the purpose of this example, we are going to show you how to place a lay bet on Paris Saint-Germain. Remember, this the same as backing Paris Saint-Germain not to win.
Once you click the pink box, the selection will show on the bet slip on the right hand side of the screen.
Once you add the selection to your bet slip, you can add the stake. This differs from a traditional bet, because you’re inputting the amount you wish to make available for punters to bet on. For example, just imagine you’re the bookmaker, this is the amount that the customer is going to hand you to place the bet.
The number circled below is your liability, and potential payout if the person taking your bet wins.
The formula to calculate this liability yourself is
So for the below example, that is:
1.08 – 1 = 0.08
£100 (stake) x 0.08 = £8
£100 (stake) x 0.08 = £8
When you click on the ‘place bets’ button, the money will go into the market and is available for people to match. If there is someone who already has cash in the system at the same price, the exchange will match your bets immediately. Otherwise, you must wait for someone to take the price which you have offered.
If your lay bet wins, you’ll receive the £100, minus a commission of 5%. This is how our betting exchange of choice for this example, Betfair, make their money.
If your lay bet loses, you’ll be down your £8 liability.
How to place a lay bet with OddsMonkey
So we’ve shown you the basics of how to place a lay bet. But as we mentioned previously, lay betting is vital for matched bettors.
Matched betting is a process which turns bookmaker free bets into withdrawable cash, with little, or no risk.
This video will give you a great overview if you’re new to the idea of making risk-free cash.Because lay betting is important for matched bettors, OddsMonkey have teamed up with the number one betting exchange, Betfair, to make life so much simpler.
OddsMonkey have a tool which we call the OddsMatcher. It was developed to make finding suitable matched bets easier. Previously, this would be a long, frustrating process.
What Is A Lay Bet In Craps Game
To get a better return with matched betting, you need to find an event where the bookmaker price is close to the exchange price. Our OddsMatcher tool scrapes the data from every bookmaker and betting exchange, and allows you to filter for suitable bets.
In the past, it was a point of reference only. You’d still need to go to the bookmaker and place a bet, and then repeat that process with the exchange. But time is of the essence in matched betting. Prices are constantly changing, so you need to be quick.
Craps Lay Odds
So what did we do? We spoke to Betfair, and with some technical wizardry, we integrated Betfair into our platform.
So now, when you’re placing your matched bets, we calculate the amount you need to lay, and the integrated tool places that lay bet with the click of a button!
Craps Table Bets Explained
The above tool also gives you the ‘what if’ calculations of your matched bet so you can see what your potential profit is.
What Is A Lay Bet In Craps
![Hop Hop](https://www.wikihow.com/images/9/91/Bet-on-Craps-Final.jpg)
Before now, the biggest risk with matched betting has been human error. But our integration of Betfair takes us one step closer to eliminating that risk altogether!
For more information on lay betting, head over to our ‘Free Guides’ section: https://www.oddsmonkey.com/matched-betting/free-guides/ Main street in vegas.