The game is Liar's Dice, described on Wikipedia here. The version shown in the movie is played with only a single round and (I think) without wilds. In short, each player has 5 dice hidden from the other players, and must 'bid' on the total number of dice showing a particular face, for example "three sixes" or "seven twos". Bids increase either the number of identical faces, or the face shown (in which case any number of dice may be picked, "one six" beats "seven fives".) A challenged bid shown to exceed the actual count loses.
Neither the Wikipedia article nor a google search turned up much in the way of scholarly analysis of this game. Is the game too trivial to be of interest? Or is it not amenable to the normal techniques of game theory? Can the optimal strategy for a simplified version (say, one die each) be succintly described? Paradoxically, the game becomes less interesting for very large numbers of dice. Can it be shown that five dice provides the most "interesting" variation?