What is a lay bet in craps?

In craps, a lay bet is a wager placed on a 7 being rolled before a specific number is rolled. The specific number must be chosen by the player and can be any of the following: 4, 5, 6, 8, 9, or 10. If the chosen number is rolled before a 7, the player loses the bet. However, if a 7 is rolled before the chosen number, the player wins.

Lay bets are typically paid out at true odds, meaning there is no house edge associated with them. However, a 5% commission may be charged on winning bets in order to make up for this lack of house edge.

Lay bets are a way for players to bet against a specific number rather than for it, offering an alternative to the more common place bets. It is important to note that lay bets are typically only available in casinos that offer the more advanced craps bets.