Craps Money Management

casino craps guideCasino games are fun to engage in, not to mention scooping a nice prize is always a possibility. But the truth of the matter is a certain probability of losing your money always exists, not to mention all casino games have a built-in house edge that works to players’ disadvantage. This, however, should not discourage you from enjoying the games as managing your funds properly may greatly enhance your chances of ending your gaming session on profit.

Good bankroll management should always be at hand regardless of the type of casino game you play, but when it comes to the game of craps it is something you simply cannot do without. This can be explained by the very nature of craps as it is a fast-paced dice game where players can win or lose money extremely quickly. Craps players always compete against the house and some types of bets one can place in the course of the game have a significant house edge. With any 7 bets, for instance, the casino’s advantage nearly reaches 17%. As craps is among the games with a negative expected value, the casino always ends up winning in the long run. Nevertheless, players who are interested in this game of chance can increase their chances of turning a profit through discipline and proper bankroll management.

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Bankroll Management

Managing your finances properly when you play craps is not a guarantee you will accumulate life-changing amounts of money, but it is definitely the way to go if you wish to profit from your gaming session, not to mention it has the potential to significantly reduce players’ losses. What is important to remember is that the term “bankroll management”, at least when used in the context of gambling does not refer only to the way one allocates their finances. How a given player approaches the game, the types of bets they place and the strategy they implement in the course of a gaming session can also influence the said player’s profits. It is safe to say managing one’s bankroll calls for applying a more holistic approach. So if you are new to craps, the following tips on bankroll management might prove to be helpful to you.

Determining the Size of your Bankroll

Before you start your gaming session in an online or a web-based casino, you should carefully consider what size your bankroll should be. Your final decision should be based on how much money you are comfortable with losing when your gaming session ends, because, with craps especially, there is always a certain possibility you will walk out with empty pockets.

Approach your craps bankroll, the way you would approach going out for a dinner in a fancy restaurant. It all depends on how much money you can afford to spend on a single night out. As strange as it may sound, the saying “Don’t put all your eggs in the same basket” is applicable in gambling as well, especially if a given player has made up their mind to join the craps table as this is a game with higher volatility. Once you have determined what your cap amount should be, set it aside. Keeping your craps session money separate from the sums you have allocated for food or utility bills is of essential importance. In case you experience a very bad losing streak, you might end up parting with your entire bankroll, but if you keep it separately from the rest of your funds, you will have no other option but to quit playing, even if you feel a pressing urge to continue.

Bet Units

Once you have allocated a specific sum you can comfortably spend on craps, you should consider your gambling rate per hour and the size of your bet units. It goes without saying both should correlate to the size of your overall bankroll. To determine their per-hour gambling rate, players must simply divide their overall bankroll by the number of hours they intend to spend playing online or in a landbased venue.

For instance, if your bankroll is $100 and you plan on playing craps for four hours, you can spend $25 per hour. On the basis of this sum, you can determine the size of your bet units. Bet units depend not only on your overall bankroll but on the number of bets one can place on the craps table per hour. The minimum bet amount set by the casino also needs to be considered. So, if you place roughly 25 bets per hour, each one should be $1 (provided that’s the minimum bet amount), which is equal to 1% of your overall bankroll. This is great because craps players are advised to limit themselves to bet units amounting to 1% of their total gaming budget. Besides, you are guaranteed to turn a profit if you play it safe with Pass Line bets – it is highly unlikely a player should lose 25 Pass Line bets in a row.

casino craps player around the table

Practice Play

Craps is a game based solely on chance, that is true. This makes it easier to play, but inexperienced players tend to get confused by the rules and the great number of bets in craps. The weird lingo is not much of a help, either. Before you start your gaming session, it would be best to acquaint yourself with craps’ rules and the different bets you can place. It would be much easier for you to get used to the game, if you spend some time to practice.

Most web-based casinos provide players with the opportunity to choose between Fun mode and Real Money Play. Players can easily register with an account at an online casino and spend a couple of hours (or even a day or two) practising craps, which will enable them to get the hang of the game more easily. Besides, most online casino operators offer extensive information regarding each game’s rules and objective. Going through this section and reading the information carefully might also prove to be helpful. Remember, craps is not only about rolling the dice and waiting to see what numbers will come up.

Place Bets with Lower House Edge

In craps, the number of bets one can place is overwhelming, to say the least. If you wish to enjoy a profitable gaming session playing craps, start by learning to distinguish the bet types and their respective payouts. Keep in mind different bets have a different house edge, so if you are a beginner it would be best to stick to lower house edge bets.

The house edge for Line bets is the lowest. This category encompasses two main types, namely Pass Line and Don’t Pass bets. Pass Line bets are most commonly placed by beginners as they are also the easiest to grasp – the shooter rolls the dice and if 7 or 11 come out, you win. If the come-out roll of the shooter results in 2, 3 or 12 (also called Craps numbers), you and everyone else who bet on the Pass Line will lose. Rolling any of the following numbers – 4, 5, 6, 8, 9, or 10, will result in the number to become the Point. The aim is to roll the Point number before 7 comes out. Rolling 7 before the Point number, will result in a loss and is called a “seven-out”. Numbers 7, 11, 2, 3 and 12 are called “natural” numbers because if they are thrown on the come-out roll, players’ bets on the Pass Line will result either in a win or a loss. Pass Line bets pay even money and have a house edge of 1.41%.

Placing Don’t Pass Line bets is another suitable option if you are looking for lower house edge. They are just as easy to comprehend as Don’t Pass bets are practically the opposite of Pass Line bets. In this case, players are hoping the shooter will roll one of the Craps numbers – 2, 3 or 12 in which case their bets win. Payouts are different, however. If the shooter throws numbers 2 or 3, your Don’t Pass bet will be paid out at even money. Should the shooter throw out the number 12, the Don’t Pass bets will result in a “Push”, which practically means your neither lose, nor win.

However, if you plan on enjoying the game in a landbased venue, it would be best to refrain from betting against the shooter as many players are superstitious and frown upon such bets. But if you intend to play from the comfort of your home at an online casino, you can place any type of bet you like.

Another major category of bets in craps consists of Come and Don’t Come bets. The Come bet is a more suitable option for beginners as it resembles the Pass Line bets to a great extent but the house edge is even lower at 1.36%. The difference is these are placed after a Point has been already established. If the shooter throws 7 or 11 on the come out roll, you win. If the Craps numbers 2, 3 or 12 are thrown on the come-out roll, you lose. But if another number is rolled on the come-out roll, for example the number 4, it becomes the Point for all Come bets. So if the number 4 is rolled again, your Come bet will win, but if seven-out is at hand, the bet will lose. The Don’t Come bets are based on the same principle but are generally considered to be the less smart move.

Taking the Odds and Laying the Odds are side bets and a great option as their house edge is nil which practically results in an even game. The bad news is players are required to have already placed the minimum amount on the Pass Line of Don’t Pass Line, a requirement which slightly tips the scales back in casinos’ favor.

If you take a look at the layout of the table, you will notice there is one section labelled “Field” and it has the following numbers listed inside – 2, 3, 4, 9, 10, 11 and 12. You can opt for placing a Field bet which is a one-roll bet. Wagers can be placed on any of the numbers listed above and your bet will win provided that your number is rolled. Numbers 3, 4, 9, 10 and 11 pay even money, the number 2 pays out 2 to 1 (or 3 to 1 depending on the casino), while 12’s payout is in most cases 3 to 1.

Many inexperienced players fall prey to the widespread misconception that since seven numbers are within the Field, a Field bet has greater chances of winning. Unfortunately, once you consider the matter more carefully, you will discern this is not necessarily the case. Even though there are only four numbers outside the Field, namely 5, 6, 7 and 8, there are twenty dice combinations that can add up to these four numbers as opposed to the sixteen possible combinations for the Field numbers. It turns out your chances of winning with a Field bet are not as great as you initially thought. That is why it would be best to avoid them altogether. The same goes for Big 6 and Big 8 bets with even money payouts if 6 or 8 is rolled before 7. The house edge for these reaches 9.09%.

It would be a good idea to avoid placing One Roll Bets, at least in the beginning until you get used to the simpler bet types like Pass Line and Don’t Pass Line. For one thing, their house edge works to players’ disadvantage. If you look at the table layout, you will notice the payouts of some One Roll bets are listed as 8 for 1 (for Any Craps bets), 15 for 1 (for “Yo-leven” or eleven) etc. This indicates that instead of being paid $8 for a $1 winning bet, you will receive only $7 for a $1 bet. Whatever happens, stay away from Any 7 bets as their house edge reaches nearly 17%.

casino craps winning bet

Implement a Strategy

It is always good to have a plan, even more so when one is engaged in a game of craps. Implementing a strategy in your gameplay will prove to be helpful, but unfortunately, not all strategies are equally effective. On the contrary, some might even cause you to generate greater losses.

One strategy that is especially suitable for craps is the so-called “Reverse Martingale”. If you are interested in casino games, you have probably heard about the Martingale strategy where players are expected to double the size of their bets after each loss and reduce it after a win. This is not an option, first, because you can easily reach the table’s limit on a longer losing streak and second, because you risk greater amounts of money to generate smaller profits. There is also the option to waste your entire bankroll before you break out of your losing streak.

You should consider applying the Reverse Martingale instead, which is the exact opposite of the Martingale. Thus, you will reduce your bets to a single unit when losing and double the bet unit after a win. This will enable you to risk smaller sums and eventually generate more substantial profits. The following is an example of Reverse Martingale – you start with a Pass Line bet of $5, 7 is rolled and therefore you win. You proceed by doubling your bet unit, so your second bet amounts to $10. A Point is established with the number 4 and the shooter manages to roll number 4 before a 7 so you win again. You are expected to double your stake again so your third Pass Line bet is $20. Unfortunately, this time you are not as lucky and you lose your money. Your fourth bet should be reduced to the original unit which is $5. You win again. Overall, you have lost $20, while your winnings amount to $30, which makes up for a net profit of $10.

Conclusion

As you can see, proper bankroll management along with discipline are the two key ingredients in the recipe for success on the craps tables. It’s important to know when to quit, especially in a game of craps where you risk losing what you have won in a matter of seconds. Remember, greed is your number one enemy, discipline is your friend. It matters not whether you are playing in a landbased casino or online – either way, if you don’t draw the line at some point, you might end up with empty pockets.

Some of the tips listed above will enhance your chances of generating satisfactory profits, not to mention when applied properly, they can greatly extend your gaming session. As became evident, the concept of bankroll management also has to do with knowing the odds of the different bet types in craps as some of them are more volatile than others and may cause you to lose more money. So be smart and stick to placing lower house edge bets as these will enable you to accumulate greater profits. Players should remember that craps is above all a game of chance and as such should be all about fun, so enjoying yourself while at the table should be your number one priority.

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