Joining the Opposing Side in Craps: Understanding the Lay Bet Strategy
In the exciting world of casino games, one strategy that stands out is the lay bet, a wagering tactic popular in the game of craps. This article aims to shed light on lay bets, their odds, and how they work in both traditional casinos and online betting exchanges.
Lay bets are part of a 'dark side' wagering strategy, where players bet against the shooter. To make a lay bet, a player simply tosses chips to the dealer and calls out the number they wish to lay. The lay bet wins if the shooter rolls Any-7 before the number on which the bet was placed.
In a casino that charges a commission on all bets, the house edge for the 4 and 10 lay bet is 2.5%, while for the 6 and 8 lay bet, it's 2.3%. The true odds for the 5 and 9 lay bet are 3:2, resulting in a house edge of 3.3%, and for the 4 and 10 lay bet, the true odds are 2:1, leading to a house edge of 4%.
Online betting exchanges, such as Betfair, Matchbook, and Smarkets, also offer lay bets. These platforms charge a commission on all bets, whether they are lay or back bets. For instance, Betfair charges up to 5% on winnings, while Matchbook charges 2% for UK, Ireland, Channel Islands, and Isle of Man residents, and 4% for other countries.
Lay bets can be advantageous, especially when playing against bad or unlucky shooters. However, they may not be popular with other players due to the nature of the bet, as it is betting against the shooter and potentially causing them to lose.
It's worth noting that buying the 4 and 10 instead of making a lay bet can help reduce the house edge by forcing the casino to charge a lower commission. Additionally, in a real-world casino, changing of the dice usually occurs around 3 AM, which can favor lay bets and dark side players due to the new, perfect dice.
Mastering lay bets is just the beginning. As you delve deeper into the world of craps, we encourage you to explore additional articles to further improve your skills and strategies. Happy betting!
To delve deeper into lay bets, the reader is encouraged to explore additional articles and strategies on blogs dedicated to casino-and-gambling, which may provide insights into their use in various casino-games, including craps. Online betting exchanges, such as Betfair, Matchbook, and Smarkets, also offer lay bets for those who prefer the digital casino environment.
