Also a reference to:
Wolves Amongst the Sheep
Cause Ice Cube will damn sure [???] buck ‘em down
The ritual act of removing skin from the body.
There’s also some references to card games in this line, as well as alcohol:
Straight Up — could be a high straight flush or turning cards over to reveal the face.
Chasing can be collecting cards to build a better hand.
Layaways — can be putting money aside for a future bet.
He saying all bets are off, he has already won the game.
Spinach is also slang for marijuana and green money.