Can anyone explain to me what a "place to lose" bet is? How is it different than a Lay bet on a number?
Heard this term the other day and it is one I did not recognize. Just my passion for the game. I want to know everything about it! I am sure I won’t be using this bet but would like to understand it.
I did look it up on wizard of odds but I still don’t think I quite understand it. Thanks for any light you can shed!
Replies:
Posted by: NofieldFive on September 26, 2019, 5:58 pm
If the number you have bet on is 6 or 8, the payout ratio is 4 to 5 and you must bet in multiples of $8, which means a house advantage of just 1.82%. If the number that you choose to make your Place to Lose bet on is 5 or 9 the payout ratio is 5-to-8, and you would need to bet in multiples of $8 for either of these numbers to lose, which means the house has a 2.50% advantage. If the number if 4 or 10 the corresponding ratio is 5 to 11 and you would have to bet at least $11 or multiples of this value to win, thereby giving the house a solid 3.03% advantage.
It evidently is on some of the bubble craps machines and in other countries.
NFF
Posted by: Dr Crapology on September 27, 2019, 11:18 am
If anyone disagrees with this please let me know.
Doc
Posted by: Preacher on September 28, 2019, 8:28 am
Before I took my first Golden Touch class and learned better, I would use a Lay bet on the come out roll as a hedge on a large Don’t Pass bet. Most, perhaps all, casinos required the vig to be paid up front. It pays true odds, which is not a great thing for dark side bets. I wanted to make Place to Lose bets, instead, to eliminate my paying the vig up front. For example, a $30 Lay bet on 6 or 8 pays $25, which nets $24 ($25 gain minus the $1 vig), but a loss costs a total of $31 every time. A $30 Place to Lose bet on 6 or 8 pays $24, and a loss is only $30.
I never found a casino that offered it. As I recall, I never even found a dealer that knew what it was. It doesn’t matter to me anymore.
Sometimes, even now, I will make a Lay bet. Why? Because I find it too annoying when the shooter makes a Don’t Pass bet. Usually, I just won’t ever, ever make any bet on such a shooter – not even after the 5-count. Yes, it shouldn’t bother me, but it does., because I find it to be the absolutely dumbest play on a craps table. The exception would be if they were using their DP bet to hedge a set of Place bets, but, to date, I’m the only one I’ve ever seen actually do that (again, not anymore). So, if I find the shooter with a DP bet too annoying, I loudly make a $20 or $50 Lay bet on the 4 or 10 – whichever is closer to the shooter. You see, the DP betters love to get a 4 or 10 on the Come Out roll. Funny thing, it gets into the DP shooter’s head. I know it does, because the DP shooter keeps looking at my Lay bet. Petty, I know. Fortunately, it’s it’s infrequent that a shooter has a DP bet.
Posted by: getagrip on September 29, 2019, 3:43 pm
Makes sense now what that gentleman was trying to bet. The boxman did tell him he could do a lay bet but he did not do that. It was a $5 table and I think he did not want to make a bet larger than $8. Also, I don’t know if he was used to playing Craps in a different country or not but he did have an Eastern European accent so maybe it was a bet he was used to making some where else when he played. Thanks again!