Place bets
A place bet wins when its number appears before seven. Standard payouts are 7:6 on 6 or 8, 7:5 on 5 or 9, and 9:5 on 4 or 10.
The corresponding edges are about 1.515%, 4.0%, and 6.667%. Proper bet multiples avoid payout rounding.
Buy bets
A buy bet pays true odds but charges a commission, commonly five percent of the wager or of the win depending on house rules. Paying commission only on a win is more favorable.
Buying 4 or 10 is often better than placing them, but the break-even bet size can depend on how commission is rounded.
Lay bets
A lay bet wagers that seven arrives before the selected number. It pays less than the amount risked and charges commission.
Commission basis, timing, and rounding determine the effective edge. A generic lay-bet percentage can be wrong for a small bet with chip rounding.
Working and removal
Place, buy, and lay wagers are generally removable and can be called off. They may be off on the come-out roll by default, but procedure varies.
Turning a bet off changes how many rolls create action; it does not improve the edge on rolls when the bet is working.
The decision players tend to flatten
For Place, Buy and Lay Bets, the table combines contract bets, one-roll propositions and optional odds, so “the craps edge” is not a single useful number.
For Place, Buy and Lay Bets, judge the legal choices at the exact decision point. A correct action can lose this hand and still be the better decision.
For Place, Buy and Lay Bets, compare the legal actions using only the information available at that decision. The final outcome is not evidence that the choice was sound.
What to record for Craps
- Information available
- amount already committed
- cost of the next action
If a Place, Buy and Lay Bets boundary comes from a different pay table or procedure, it belongs to that model—not automatically to this one.
Place, Buy and Lay Bets is reviewed against the Craps rules described above. A different pay table or procedure is a different model. Editorial review updated September 24, 2026.