BUY BET
A buy bet is a place bet that will pay true odds, however only recommended on 4 and 10. The bet is for the chosen number (4 or 10) and against the 7.
Most craps players who understand this bet generally always bet the 4 and or 10 only.
1 of 3 things can happen with this bet:
1) The selected number (4 or 10) is rolled and the bet wins.
2) A 7 is rolled and the bet loses.
3) Any other number is rolled and the bet neither wins nor loses but rolling continues.
A Buy bet is similar to a Place bet except that the player pays a 5% vig up-front in exchange for receiving a true payoff if it wins. The vig is figured on the amount wagered. For example, if a player wanted to make a $20 Buy bet on the number 4, the they would put down $21 (in the Come area) and tell you "Buy the 4". You will move the $20 to the number 4 point box and place a BUY button on top of the bet.
The extra $1 (5% of $20) is the vig for the house. The result is that the player win $40 (2 to 1) instead of $36 (9 to 5). If the player does win and wants to keep their Buy bet up, they'll have to pay the you another vig. The vig is returned if a player wants to remove the bet before it wins or loses.
A buy bet is a place bet that will pay true odds, however only recommended on 4 and 10. The bet is for the chosen number (4 or 10) and against the 7.
Most craps players who understand this bet generally always bet the 4 and or 10 only.
1 of 3 things can happen with this bet:
1) The selected number (4 or 10) is rolled and the bet wins.
2) A 7 is rolled and the bet loses.
3) Any other number is rolled and the bet neither wins nor loses but rolling continues.
A Buy bet is similar to a Place bet except that the player pays a 5% vig up-front in exchange for receiving a true payoff if it wins. The vig is figured on the amount wagered. For example, if a player wanted to make a $20 Buy bet on the number 4, the they would put down $21 (in the Come area) and tell you "Buy the 4". You will move the $20 to the number 4 point box and place a BUY button on top of the bet.
The extra $1 (5% of $20) is the vig for the house. The result is that the player win $40 (2 to 1) instead of $36 (9 to 5). If the player does win and wants to keep their Buy bet up, they'll have to pay the you another vig. The vig is returned if a player wants to remove the bet before it wins or loses.
Many casinos are now taking the vig after the bet wins rather than before it wins.
Look at it this way, the true odds on 4 & 10 are 2:1 - $5 wins $10
However; the place bet on 4 & 10 ......@9:5....each $5 only pays $9
Notice the illustration below...
However; the place bet on 4 & 10 ......@9:5....each $5 only pays $9
Notice the illustration below...
....6.67% house advantage! So to make the bet somewhat appealing casinos offer the Buy bet. With the Buy bet the house advantage is reduced to 4.76% which make a big difference. Example: You place the 10 for $100. At 9:5 you win $180 but if you Buy the True odds (2:1) you win $200 (less 5% vig of 100 = $5) so you would net $195 as opposed to winning only $180 at 9:5.
It gets better......
It gets better......
Depending on how much you bet, the vig may work out to a fractional amount. If this fractional amount is not fully payable with any of the available checks, then the vig is rounded off. Generally, when the vig amount falls halfway or less between two payable amounts, the vig is rounded down, otherwise it's rounded up. So at a table where the smallest checks are $1, the vig will be rounded down on fractions of .50 or less and rounded up otherwise. e.g. You could Buy a bet for $50 and pay only $2 vig even though mathematically the vig comes out to $2.50. However, if you made two $50 Buy bets at the same time, you'd be charged $5 and not $4 for your total action. Even if you didn't make both bets at the same time, some casinos would charge you the extra $1 when you made the second bet, and some would not. Obviously those that don't collect the extra buck are being a bit more generous.
There are some casinos that are even more generous by only charging a vig on those bets that you win. This lowers the house advantage even more and makes the Buy a much better bet. The point to remember is that each casino handles their vigs a little differently.
This is pretty much a standard when it comes to how much to charge vig on popular bets
$25 Buy bet vig is $1 (Should be $1.25)
$50 BUY bet vig is $2 (Should be $2.50)
$75 Buy bet vig is $4 (Should be $3.75)
Each $20 increment BUY bet, the vig is $1
Each $100 increment Buy bet, the vig is $5
The 5% commissioned vig "rule" also applies to LAY BETS in a similar reverse structure......read below
There are some casinos that are even more generous by only charging a vig on those bets that you win. This lowers the house advantage even more and makes the Buy a much better bet. The point to remember is that each casino handles their vigs a little differently.
This is pretty much a standard when it comes to how much to charge vig on popular bets
$25 Buy bet vig is $1 (Should be $1.25)
$50 BUY bet vig is $2 (Should be $2.50)
$75 Buy bet vig is $4 (Should be $3.75)
Each $20 increment BUY bet, the vig is $1
Each $100 increment Buy bet, the vig is $5
The 5% commissioned vig "rule" also applies to LAY BETS in a similar reverse structure......read below
LAY BETS
Most craps players who understand this bet generally always Lay (bet against) the 4 and or 10. You'll see some cool 6 & 8 lay bets also.
A Lay bet is a standing bet against the dice. In other words if a seven rolls the bet wins no matter when the 7 rolls.
1 of 3 things can happen with this bet:
1) The selected number (4 or 10) is rolled and the bet will lose.
2) A 7 is rolled and the bet wins.
3) Any other number is rolled and the bet neither wins nor loses but rolling continues.
Most craps players who understand this bet generally always Lay (bet against) the 4 and or 10. You'll see some cool 6 & 8 lay bets also.
A Lay bet is a standing bet against the dice. In other words if a seven rolls the bet wins no matter when the 7 rolls.
1 of 3 things can happen with this bet:
1) The selected number (4 or 10) is rolled and the bet will lose.
2) A 7 is rolled and the bet wins.
3) Any other number is rolled and the bet neither wins nor loses but rolling continues.
The Lay bet pays true odds (1:2) player pays an up-front vig of 5% of the potential payoff.
That's right, the vig is not figured on the amount bet, only the payoff amount.
For example, in the illustration above, if the player wanted to make a $50 Lay bet on the number 4, they would put down $51 (in the COME or DC area) and they will tell you…, "Lay the 4". You will move $50 to the top box above number 4 point box and place a LAY button of top of it. The vig on $25 (win amount) is $1.
The extra $1 (5% of $20) is the vig for the house (the potential payoff is $25 because the odds on the Lay 4 are 1 to 2). If the player wins and wants to keep their Lay bet up, they will be required to pay another vig. The vig is returned if the player wants you to remove the bet before it wins or loses.
Depending on how much you bet, the vig may work out to a fractional amount. If this fractional amount is not fully payable with any of the available checks, then the vig is rounded off. Generally, when the vig amount falls halfway or less between two payable amounts, the vig is rounded down, otherwise it's rounded up.
So at a table where the smallest checks are $1, the vig will be rounded down on fractions of .50 or less and rounded up otherwise. e.g. You could lay the 4 for $100 and pay only $2 vig even though mathematically the vig comes out to $2.50. However, if you made a $100 Lay 4 and a $100 Lay 10 bet at the same time, you'd be charged $5 and not $4 for your total action. Even if you didn't make both bets at the same time, some casinos would charge you the extra $1 when you made the second bet, and some would not.
The extra $1 (5% of $20) is the vig for the house (the potential payoff is $25 because the odds on the Lay 4 are 1 to 2). If the player wins and wants to keep their Lay bet up, they will be required to pay another vig. The vig is returned if the player wants you to remove the bet before it wins or loses.
Depending on how much you bet, the vig may work out to a fractional amount. If this fractional amount is not fully payable with any of the available checks, then the vig is rounded off. Generally, when the vig amount falls halfway or less between two payable amounts, the vig is rounded down, otherwise it's rounded up.
So at a table where the smallest checks are $1, the vig will be rounded down on fractions of .50 or less and rounded up otherwise. e.g. You could lay the 4 for $100 and pay only $2 vig even though mathematically the vig comes out to $2.50. However, if you made a $100 Lay 4 and a $100 Lay 10 bet at the same time, you'd be charged $5 and not $4 for your total action. Even if you didn't make both bets at the same time, some casinos would charge you the extra $1 when you made the second bet, and some would not.
Obviously those that don't collect the extra buck are being a bit more generous.
The points to remember are...
Each casino handles their vigs a little differently.
Lay bets on 4 and 10 must be an even amount to win half.
The vig is based in the win amount, not the bet amount.
This is pretty much a standard when it comes to how much to charge vig on popular 4 & 10 Lay payoff amounts.
$25 LAY payoff amount vig is $1
(Should be $1.25)
$50 LAY payoff amount vig is $2
(Should be $2.50)
$75 LAY bet payoff amount vig is $4
(Should be $3.75)
Each $20 win amount vig is $1
Each $100 win amount vig is $5
The points to remember are...
Each casino handles their vigs a little differently.
Lay bets on 4 and 10 must be an even amount to win half.
The vig is based in the win amount, not the bet amount.
This is pretty much a standard when it comes to how much to charge vig on popular 4 & 10 Lay payoff amounts.
$25 LAY payoff amount vig is $1
(Should be $1.25)
$50 LAY payoff amount vig is $2
(Should be $2.50)
$75 LAY bet payoff amount vig is $4
(Should be $3.75)
Each $20 win amount vig is $1
Each $100 win amount vig is $5
_________________________
The 6 & 8 has a somewhat popular Lay bet. Player throws in 1 green $25 "No 6 or No 8" What they are betting is $24 to win $20 ($1 vig) Total $25.....Therefore Each green they bet is 24 wins 20 the $1 vig is built into the bet, no change. Think about that one.
Player bets $50 no 8 - Think 2 green each with a $1 built in vig. That means its a $48 to win $40 bet. (Each green wins 20)
Player bets $100 no 6 - Think 4 green each with a $1 built in vig. That means its a $96 to win 80 bet. (Each green wins 20)
Player bets $500 no 6 or no 8 - 20 green 20 vig 480 wins 400
Games with the popular side bet called FIRE BET are seeing large lay bets against numbers as a hedge bet. We have it where I work. Lots of big hedge bets when the FIRE BET is about to pay.
The 6 & 8 has a somewhat popular Lay bet. Player throws in 1 green $25 "No 6 or No 8" What they are betting is $24 to win $20 ($1 vig) Total $25.....Therefore Each green they bet is 24 wins 20 the $1 vig is built into the bet, no change. Think about that one.
Player bets $50 no 8 - Think 2 green each with a $1 built in vig. That means its a $48 to win $40 bet. (Each green wins 20)
Player bets $100 no 6 - Think 4 green each with a $1 built in vig. That means its a $96 to win 80 bet. (Each green wins 20)
Player bets $500 no 6 or no 8 - 20 green 20 vig 480 wins 400
Games with the popular side bet called FIRE BET are seeing large lay bets against numbers as a hedge bet. We have it where I work. Lots of big hedge bets when the FIRE BET is about to pay.
