Craps Lay Bet Vig
If you can afford to lay more than the minimum, you can trim the fraction of the bet you pay as vig. This exploits the fact that the casino rounds down to the nearest dollar. For instance, lay the four or 10 for $78 to win $39; 5 percent of $39 is $1.95, which rounds down to $1 - for an effective vig of 1/39 or 2.56 percent. Basic Gist: Lay the 4 and/or the 10 and hope that 7 is thrown before the 4 or 10. Max Loss: $41 on 1 lay $82 if you lay both. You can make this bet and take it down at anytime. You can bet both the 4 and 10 at the same time. What you are doing is laying the odds ( say $40 ) that a 7 will be thrown before a 4 or 10.
Is this true?
If not true, does anyone have a list of Vegas casinos that charge lay vig only on a win, or will I need to call each casino (and what kind of run-around can I expect with such a question given they don't seem to publish these rules on their websites)?
I think the sister site here indicated this:
'Lay bets are like laying the Odds or Place to Lose bets, except with different odds. The concept is that they pay fair odds, like Odds bets, except you have to pay a 5% commission to make the bet, based on the win amount. This commission is usually non-refundable. However, at some casinos, the commission on the 4 and 10 is charged only on a win. The following tables show the house edge both with the commission always payable and after a win only.'
It also indicated there's a complete guide to Vegas playing conditions here, but I can't find it:
'The Casino Royale, which offers 100x odds. For complete playing conditions in Vegas please see my new Vegas craps directory.'
It also indicated there's a complete guide to Vegas playing conditions here, but I can't find it:
'The Casino Royale, which offers 100x odds. For complete playing conditions in Vegas please see my new Vegas craps directory.'
There is this guide to odds offered, not sure if that's what you want?
LAS VEGAS CRAPS SURVEYMost local places are fair and lenient, that is 'vig is paid only if bet wins.'
I deal dice at Fiesta Henderson, and it is 10x odds, vig on win only, field pays 3:1 on 12 2:1 on 2, and place 4 & 10 are treated as buy bets for better value at $10 and above.
I would say most casinos in Vegas and all 'locals' casinos in Vegas will charge you the 'vig' only if the bet wins.
Oh there might be one or two places you could find that might differ, but you would have to really search to find them and once you found them all you would have to do is go next door to get away from them.
>Fiesta Henderson is 10x odds, vig on win only, field pays 3:1 on 12 2:1 on 2,
>and place 4 & 10 are treated as buy bets for better value at $10 and above.
Thats about it all over, though if you look at the craps survey you will see that SOME places are stingy in the field and other places are going to have slight variations.
Most people choose where to play for other reasons, such as the ODDs offered, the comp rate, the buffets offered, the parking, their wife's preferences, etc.
Add Golden Gate to the list of confirmed vig on win only casinos...I was buying 4 and 10 for 25 and dropping a buck on a win, however I don't know at which point they would start rounding up...you may be able to buy up to 39 for just a dollar on the win, I don't know how that works for lay...do you pay 5% of the bet amount or the win amount?Craps Buy Bet Vig
I imagine it will now be the same at Fitzger....errr, The D.Add Golden Gate to the list of confirmed vig on win only casinos...I was buying 4 and 10 for 25 and dropping a buck on a win, however I don't know at which point they would start rounding up...you may be able to buy up to 39 for just a dollar on the win, I don't know how that works for lay...do you pay 5% of the bet amount or the win amount?
I imagine it will now be the same at Fitzger....errr, The D.
You pay the 5% on the win amount for lay bets.
I didn't do much laying (har har) on my last trip, but I did lay the 4 at Mandalay Bay for one thousand, and they only charged me the vig after it hit, which was $25 (5% of $500, exactly). I recall having the same experience at Bally's a couple of years ago, but I think that dealer was confused since as far as I can remember, most Harrah's properties charge the vig up front on all lay bets. I have no clue if all MGM properties are more lenient, but as others have said, it's a good place to start.
You must have heard players talking of Lay bet. The Lay bet is basically opposite of the Buy bet. You bet that a 7 will appear before one of the point numbers (i.e., 4, 5, 6, 8, 9, or 10). As an example you notice a temporary trend where the number 5 hasn’t appeared in the last 30 minutes. You have intution that the trend will continue a little longer so you Lay the 5 (i.e., you bet that a 7 will appear before a 5). The payoff is based on true odds.
If you give the dealer $205 with the instructions “$200 on four,” the dealer will put $5 in the rack and $200 behind the four. You will win $100 if a seven rolls before a four—actually, your net win would be $95, because the $5 commission is property of the casino. If the number (four in this example) rolls, bets behind it lose.
Let’s see the true odds for each point number against the 7.
- For the 4 and 10, the true odds are 1:2 (there are 3 ways to make a 4 or 10 versus 6 ways to make a 7, so 3:6 = 1:2).
- For the 5 and 9, the true odds are 2:3 (there are 4 ways to make a 5 or 9 versus 6 ways to make a 7, so 4:6 = 2:3).
- For the 6 and 8, the true odds are 5:6 (there are 5 ways to make a 6 or 8 versus 6 ways to make a 7, so 5:6).
With the Lay bet, you hope a 7 appears before the number you bet against. There are more ways to make a 7 than any of the point numbers, so like the Don’t Pass Odds bet, you have to Lay more than you expect to win. The amount you Lay is based on true odds.
Let us learn with an example: Suppose you haven’t seen a 9 in an hour. The distribution variance took a wild turn and hasn’t shown a 9 in forever (but rest assured, the variance will eventually correct itself and when it does, it’ll seem like a 9 appears every other roll). You decide to take a chance that the wild variance will continue a little longer, so you Lay the 9 (i.e., you bet that a 7 will show before a 9). The true odds for the 7 against the 9 are 6:4, or 3:2. You can see from the odds that you must bet a multiple of $3. Suppose you Lay the 9 for $9. If a 7 shows before a 9, you win $6. The true odds are 3:2, so do the little math trick to figure out how much you win. Divide your $9 bet by 3 = $3, and then multiply the $3 by 2 = $6.
Remember, with the Lay bet against the 9, you have the advantage because there are more ways to roll a 7 and win than ways to roll a 9 and lose, so you have to bet your fair share, which in this case is that you Lay $9 to win $6.
As now you understand that the payoff for the Lay bet is based on true odds, which means there’s no built-in house advantage. The house isn’t going to let you get away with that. So, as with the Buy bet, you have to pay a vig for the privilege of getting true odds The vig for the Lay bet is the same as for the Buy bet. Let’s look at an example where you want to Lay a bet on the 8 for $60. If a 7 appears before an 8, you win $50 (i.e., the true odds are 6:5, so a winning $60 payoff is $50).
Calculate the vig based on the $50 win amount. $50 x 5% = $2.50, which the casino rounds to only $2. So, when the dealer pays you your winning $50, he asks for two dollars. You pick up your two green $25 chips and then drop two white $1 chips in the apron for the dealer. The cost of you getting true odds on that winning bet is $2.
You need the dealer’s help to make a Lay bet (i.e., the Lay bet is not a self-service bet). When you have the dealer’s attention, put your chips inside the Come area in front of you and tell one of the crew members what number you want to Lay. The dealer picks up your chips and puts them in the proper point box corresponding to your position at the table. Then, the dealer puts a “LAY” button on top of your chips to show the boxman and camera that you have a working Lay bet.
Craps Lay Bet Vigilant
Sometimes you’ll hear a player refer to a Lay bet as a “No” bet. Example a player next to you puts two pretty black $100 chips in the Come box and asks a No four. The dealer knows he wants a Lay bet so he moves the chips to the 4 point box and puts a LAY button on them. The players action was right; the 4 doesn’t appear and a 7 appears for a 7-out on the next roll. So now calculate how much does the guy win for his $200 Lay bet, and how much is the vig? True odds for the 7 against the 4 are 2:1, so divide the $200 bet by 2 = $100, and then multiply the $100 by 1 = $100. The vig is based on the $100 win amount, so $100 x 5% = $100 x 0.05 = $5, which is a whole dollar amount, so it isn’t rounded. In this case, the player wins $100 and the cost for getting true odds is $5.
These bets usually are automatically left on for a come-out of the next game (i.e., the opposite of Buy bets, which are automatically off on the come-out). But you’re able to make them on or off anytime you choose (and increase or decrease them anytime you choose). As an example suppose you’re in the middle of a game and the point is 10. The shooter has rolled lots of numbers except the 5. You make a No 5 bet (i.e., you Lay the 5). The very next roll, the shooter rolls a 10 to make point and end the game. Your Lay bet is automatically on and working for the come-out roll of the next game, but you decide to turn it off so you tell the dealer, that your number 5 is off. The dealer puts an “OFF” button on top of your chips. On the come-out roll, the shooter rolls a 5 as the new point for the next game. Great call to turn off that Lay bet on the 5. Since a 5 appeared before a 7, your Lay 5 would normally have lost, but you told the dealer, that your 5 is off so the bet was not working when the shooter rolled a 5. Therefore, you don’t lose and your bet stays up. When you decide to turn it back on so it’s working again, just tell the dealer, to turn your 5 on.
Craps Lay Bet Vigilante
It is good to remember that there are always more ways to make a 7 and win than ways to make any of the point numbers and lose. And if the lay bet gives an advantage you would never turn it off!