Lyric discussion by amanda444 

Cover art for The Alphonse Mambo lyrics by Mountain Goats, The

The phrase "play it like it lays" is a reference to Joan Didion's 1970 novel, Play It As It Lays. It's a reference to a betting strategy in Craps and also recognizing the impossibility of controlling life, but playing the game anyway. This is a great description of the narrator's mental state at this moment in time.