Combine shrimp and crab boil, bay leaves, and water in a large stock pot; bring to a boil. Reduce heat, and simmer 10 minutes. Add shrimp, and cook 4 minutes. (Do not boil.) Drain; rinse in cold water.
Peel and devein shrimp. Serve warm or chilled with cocktail sauce.
Note: Boiled shrimp may be peeled and deveined for use in any recipe calling for cooked shrimp.