 The dice game that Will Turner plays with Davy Jones is called  Liars Dice, a gambling game where each player has to make  consecutively higher bids based upon how many of each die they claim  are on the table (two threes, four fives, etc.), until a player is  called a liar, in which case all the dice are shown and its seen if  the bid is correct. Normally a player only loses a die when caught  in a lie and is not out of the game until he has lost all his dice.