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Buy & Lay Craps Wagers

Written June 23, 2008 by Jack Jones

Today we look to explain what a “Buy” bet is in craps and what is the house advantage. Of course then we also have to break down “lay wagers.”

A buy bet is essentially the same as a Place bet except that you pay a commission of 5% on the amount of your wager. If you win, the casino will pay you at the true odds, minus 5%. You get the best bang for your buck when you wager at least $20, because the minimum commission the casino will charge you for making a Buy wager is a buck, which happens to be 5% of $20. The casino edge on any Buy bet for $20 works out to 4.76%, although the percentage becomes higher on lesser wagers.

A Lay bet is the polar opposite of a Buy wager. With a Lay bet, like the Don’t Come wager, you are betting with the house and hoping that a 7 appears before a point number (4, 5, 6, 8, 9, or 10). Like Buy bets, lay bets are paid off at true odds, again, minus that commission of 5% of the amount won. Lay bets also have a minimum payoff of $20, because 5% of $20 is $1, and that’s the casino’s minimum charge.

For instance, on the numbers 5 and 9 you will have to Lay $30 to win $20, which gives the casino an edge of 3.23%. For the 6 and 8 you will have to lay $24 to win $20. Here the casino advantage is 4.00%. The best wager to Lay is the 4 and 10. While you will have to lay $40 to win $20, the house edge is reduced to 2.44%.

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