Part I: Games & Gaming · Dice Games — Craps & Sic Bo

Lay Bet

Craps

A wager, similar to a buy bet but in reverse, betting that a seven will be rolled before a specific box number (4, 5, 6, 8, 9, or 10). Lay bets pay true odds but require the player to pay a 5% commission (vigorish) on the potential win amount. Lay bets against 4 and 10 pay 1:2, against 5 and 9 pay 2:3, and against 6 and 8 pay 5:6. Because the player is betting on the most likely outcome (seven), lay bets require larger wager amounts to win smaller amounts. Lay bets are less commonly placed than buy bets or place bets but are popular among experienced “wrong” bettors. The house edge varies by number and commission structure but is generally competitive with place-to-lose bets.

One entry from the Casino Industry Glossary — 1,157 terms written for surveillance, compliance and operations professionals rather than for players. Definitions describe industry usage; where a term carries a regulatory meaning, verify against the instrument that governs your jurisdiction.