Craps - Types of bets - Multi roll bets

These are bets that may not be settled on the first roll and may need any number of subsequent rolls before an outcome is determined.

Hard way: You may bet that the shooter will throw a specific hard way (either 4, 6, 8 or 10), before he throws a seven or the corresponding easy way. A hard way is when both dice show identical values, so 2 2 is hard way 4.

Easy way: Opposite of hard way is a bet that the shooter will throw a specific easy way (either 4, 6, 8 or 10), before he throws a seven. An easy way is a value that does not have two dice identical, so 3 1 is easy way 4.

Big 6 and Big 8: These wagers are considered by craps players as sucker bets because they pay even money while a player can bet on the same proposition (that the number will be rolled before a 7) by making place/buy bets on the 6 or the 8, which pay more money. Veteran craps players avoid these bets, and some casinos do not even offer them. The bets are located in the corners behind the pass line, and bets are placed directly by players.

Place and buy: Players can buy or place certain individual numbers (4, 5, 6, 8, 9, 10) by placing their wager in the come area and telling the dealer, "place the 6" or "buy the 8". Both place and buy bets are bets that the number bet on will be rolled before a 7 is rolled. Place bets are paid at odds worse than the true odds, while buy bets are paid at true odds, but a 5% commission is charged. Traditionally, the buy bet commission is paid no matter what, but in recent years a number of casinos have changed their policy to charge the commission only when the buy bet wins. Most casinos usually charge only $1 for a $25 green-chip bet (4% commission), or $2 for $50 (two green chips), reducing the house advantage a bit more. Where commission is charged only on wins, the commission is sometimes deducted from the winning payoff - a winning $25 buy bet on the 10 would pay $49, for instance.

Lay: A lay bet is the opposite of a buy/place bet, where a player bets on a 7 to roll before the number that is laid. The lay bets pay true odds, but a 5% commission is charged. In some casinos the commission is only charged if the bet wins. Like the buy bet the commission is adjusted to suit the betting unit such that fraction of a dollar payouts are not needed.

From Wikipedia's