Lay the Odds
“Lay the Odds” is a term used in gambling, particularly in games like craps, where players have the option to place an additional bet that complements their original wager. When a player lays the odds, they are betting against a specific outcome, usually the shooter rolling a winning point before a seven is rolled. This type of bet is unique because it comes with no house edge — meaning the payout is fair based on the actual odds of the outcome.
For example, if you bet on the “Don’t Pass” line in craps and the point is established, you can lay the odds by betting that the shooter will roll a seven before hitting the point number again. The payout varies depending on the point number, but it’s calculated according to the real probabilities, making it one of the most favorable bets for players in terms of fairness.