Playing the Lay Bet
The Lay Bet is one of many bets that can be made at craps. They are a version of place bets, which are in turn, similar to pass bets. The only difference is that no come-out roll is needed to make these bets, and the point is selected by the bettor. The opposite of buy bets, lay bets are always working. That means they are active as soon as they are made.
Buy bets, on the other hand, only become active when a come-out roll is made. Don't bettors, or those who primarily bet against the shooter, make lay bets more than any other bettor. It is a bet that a seven will be rolled before the selected number. A shooter trying to hit their point would lose if a lay bet was to win.
To make lay bets, offer your chips to the dealer and say I am laying on (the number of your choice). Obviously, in the online casino, this process would simply involve clicking on the lay bet icon or over the appropriate number (The boxes are located above the Come Bar, corresponding to numbers 4,5,6,8,9 and 10). The dealer would then stack your chips in the appropriate numbered box and top it with a Lay button in order to designate it as not being a Place Bet.
Remember, it is a version of a Place Bet. If the selected number is rolled before a seven, the lay bet losses. If the seven is rolled first, the lay bet wins. Winnings are always paid out less than the amount of the lay bet itself. The reason is that, like all don't bets, the seven can be rolled in more ways than any other number. This gives the bettor a greater than even chance of winning, which the casino offsets by paying out less.
Depending on the number selected, the odds paid will vary. The four and ten will pay out 1 to 2 odds, the five and nine pay out 2 to 3 odds, while the six and eight pay out 5 to 6 odds. The Casino Advantage varies from 2.4% to 4%, with the four and ten offering 2.4%, the five and nine offering 3.2%, and the six and eight giving 4%. Additionally, there is always a 5% commission on the amount of the win (not the wager itself).
For example, a lay bet of $80 on the four, would return $40 in winnings. A 5% commission would then be $2, giving a total return of $38.
Best Strategy
If you want to play with the best strategy by the numbers, lay bets should be avoided. You will likely see don't bettors making these in an attempt to cover all the numbers. Don't bettors are already at a slight disadvantage to begin with. Making lay bets only increases that disadvantage. If you insist on making laying bets, try to keep your wagers in set denominations. This will insure that you get a full payout, and not have the casino round the 5% commission up to the next dollar (which they do).
The proper betting denominations are multiples of $24 for numbers six and eight, multiples of $30 for numbers five and nine, and multiples of $40 for numbers four and ten. Also, remember that lay bets can be removed from the board at any time. If the casino takes the commission when the bet is made, be sure the dealer gives that back to you as well.