Craps Lay Bet Vig
Posted : admin On 4/6/2022Is 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.'
The Buy bet (and its cousin, the Lay bet) may be considered “good” or “bad” depending on whether you pay the vig up front or after a win. Let's look at Buying the 4 or 10. The casino advantage is a reasonable 1.64% if you pay the vig after a win, but jumps to an unreasonable 4.76% if you pay it up front. 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. 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. Or 'vig' is charged on all Buy and Lay Bets, either on the amount bet, if it is a Buy Bet, or on the amount that can be won, if it is a Lay Bet. BIG 6 or8:You win if a 6 or 8 is rolled before a 7. The bet is for even money and can.
When it comes to the Buy bets (the Lay bet's light-side cousin) MGM properties only charge on a win. If nobody here can give you a straight answer, best to start with them.Craps Lay Bet Vigilant
Craps Lay Bet Vigilante
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 SURVEY
Most 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.
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.
Lay Bets are the opposite of the Buy Bets, except Lay Bets are wagering against the shooter. Like a buy bet, a Lay Bet allows a gambler to be paid true odds. To receive those nice votes, the craps player pays a 5% commission on their winning bets. Lay bets are made on one of the “point” numbers: 4,5,6,8,9, and 10.
That means there are six different lay bets: The Lay 4, Lay 5, Lay 6, Lay 8, Lay 9, and Lay 10 wagers. As an example, to win the Lay 8 bet, the shooter needs to roll a 7 before they roll an 8