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Another form of wagering in craps is the craps Lay bet. The Lay bet in craps is the exact opposite of the Buy bet. While in Buy bets you are betting on the premise that the shooter would roll number you choose before a 7, in craps Lay bets you are betting on the premise that the shooter’s roll of the dice would yield a 7 ahead of the number you choose.
What this translates to is this – if you place a craps Lay bet on 5, you would win if the shooter rolls the 7 ahead of the 5. Like the buy bets, the odds for Lay bets in craps are true odds.
The odds for choosing the numbers;1. 4 or 10 in a craps Lay bet are 1:2,
In simple terms the odds do not work out if, for instance, you wish to place a bet on the 10 – you would have to fork out more money than you can hope to win for this number!
In the case of the numbers 4 or 10, the minimum amount you can place as a Lay bet in craps is $40, which means the house has a 2.44% advantage for these numbers in a craps Lay bet.
In the case of the numbers 5 or 9, the minimum amount you are required to deposit is $30, which means the house advantage for these numbers translates to 3.23%.
Unlike in some of the other bets, the worst of all Lay bets odds in craps are for the numbers 6 or 8. The casino advantage for these numbers is a sizeable 4%, and the minimum amount you need to deposit is $24.
One major difference between a Lay bet in craps and a Buy bet is that the Buy bet works only after the come-out roll; it is inactive during the come-out roll, but the Lay bet is active even during the come-out roll. This is because by being active during the come-out roll, the players get a slight advantage over the house. You can turn your craps Lay bet on or off anytime you want.
Another name for the Lay bet is ‘No bet’. If you are in a position where the number you have chosen has not appeared in a long while, you can make a deposit in the Come box and ask the dealer for a ‘No number’, e.g. ‘No 8’. The dealer would then place your chips on the appropriate box – 8 in this case – and put on top of it a Lay button. What this does is that the next time your number does not roll out (again, 8 in this case) and the 7 rolls out instead, you win based on the true-odds for the number you had chosen.