Hi-lo is a term used in the game of craps to refer to a type of bet that is made on the outcome of the next roll of the dice. In a hi-lo bet, a player is betting that the next roll of the dice will be a 2 or a 12. This type of bet is considered to be a one-roll bet, because it is resolved on the next roll of the dice and does not carry over to subsequent rolls. A hi-lo bet is a relatively risky bet, because it has a low probability of winning. The odds of rolling a 2 or a 12 on the next roll are very low, and the player is only paid even money if they win the bet. Despite the high level of risk, hi-lo bets can be attractive to some craps players, because they offer the potential for a large payout if the bet wins.