Contrary to other games in the casino such as blackjack or poker; in craps, no amount of skill will make you a better player or craps. However, that being said, there is an element of craps strategy which, while it won't help you win more throws, it will ensure that you do not lose all you money in a short time. Key essentials to an intelligent craps strategy include correct money management and a working knowledge of the best bets on the table.
Intelligently managing your bankroll should be a key fundamental in any craps strategy, because it is the only way of knowing if your plan is working. A good method, but one that many find hard to follow, is to set a loss limit and to adhere to it. Often a player will sit down at the craps table, bankrolling himself a hundred dollars. However, as often happens, the player begins a losing streak, and the money is lost quickly, and the player is tempted to increase his bankroll. On the other hand, it is just as difficult to set a maximum limits for wins, because if you are winning, why leave?
Another method to managing your bankroll can be done by playing only with your winning. For example, say you bankroll yourself one hundred dollars for a game of craps. This should also be your loss limit. Begin playing, and should you lose, follow your loss limit and walk away. If you win initially, then wait until you have $75-$100 over your initial bankroll, and the put that money aside. In this way, in case you should lose all your winning, then you will still have your original bankroll. If you continue winning, then put another hundred dollars aside and exclude it permanently from the game.
The second component in a good craps strategy includes understanding the advantageous bets on the table. While the rules for the different bets are discussed in other pages, it might be worth mentioning the Pass Line Bet, the most popular bet on the craps table. The Pass Line Bet has a house edge of 1.42, which is fairly good compared to the other games in the casino. However, once you make your bet, you have a chance to back with some called "free odds". Free Odds are the addition wager you place behind your original Pass Line Bet, once the point has been made. You will notice most of the player laying this additional wager, because the free odds is part of everyone's craps strategy. This popularity stems from the fact that free odds is actually a fair bet, meaning that it has a zero house edge.
The third and perhaps most important part of a smart craps strategy is keeping your wits about you in a crisis. Gambling games can be exciting and entertaining but also stressful and frustrating, and craps is no exception. Plan on a strategy, and stick with it. Do not get unnerved by a cold table, and do not increase your bets in order to cover losses. Stick to a certain number of bets, and keep track of them. Craps can be a very confusing game with all the noise around the table, and if you are not careful you could lose track of your bets, if you make too many of them. Take it slowly, but a small number of bets at first until you feel comfortable with each bet.
Written by Hading Jefferson, Editor, 12.01.06