Your source for great hard-nosed craps advice online.
A good craps strategy has two goals. One applies when you're doing well, and that is, make as much as you can. The other applies when you're doing poorly, and that is, lose as little as possible. If you've come across a craps strategy that is telling you exactly where to bet, what to bet, and the details of how to go about it, what you've actually come across is better described as a craps system.
The difference between strategies and systems cannot be stressed enough. A system tries to, well, systematically beat a game. That is, it tries to beat it by the numbers, by combining bets into something that will shift the edge over from the house to the player. Casino games are mathematical beasts though, and they have had a lot of time to evolve. Many mathematicians have worked over time to crack the code of craps, but the simple fact of the matter is, it's a negative expectation game, and the edge cannot be geared towards the player over the long run.
A craps strategy on the other hand, is a way to go about playing the game, a style even. A strategy helps you quit while your ahead, and not chase your loses. In other words, it gives suggestions for playing smart. Fat Tony is going to explain the strategy he uses at the craps table, without discussing specific bets too much.
My overall craps bankroll strategy is a fairly logical one, but it takes some patience, and it takes a lot of willpower to stick to. The reason for this is because the most prominent feature of my strategy is bankroll management, specifically loss and win limits. Loss limits are a mental amount of money you set for yourself, the most you could comfortably lose. A win limit is the amount you would like to make before you think you should walk away. This isn't a variable that changes as you play, it's a number you decide on before you start.
A session with my craps strategy would go like this. I start by setting a loss limit, let's say $500. I'll also set a win limit, thinking I'd be happy to turn a $1000 bankroll into $1400. So now I know ahead of time, with a bankroll of $1000, I'll walk away if I'm up to $1400, or down to $500.
Now, here are the specifics of how I try to attain that goal of $1400. I'll start with $100 in front of me. If I can turn that $100 into $200 I'll pocket the original $100 and play only with my winnings. If I happen to lose all of those winnings I will return to my original $100 buy-in. If I lose that buy-in I know I am 1/5th of the way into my loss limit (notice how aware of where my bankroll I am). Basically I will keep trying to double that buy-in until I am playing with only my winnings. Then, each time I win another $100, it goes in my pocket. I'm always playing with a $100 mini-bankroll. Each time I lose money (in $100 mini-sessions), I'm well aware of what portion of my loss limit it is, and I know where my bankroll stands relative to where it started. This craps strategy incorporates a good bit of bankroll management and awareness, and the added bonus of only playing with winnings whenever it's possible.
For more craps strategy and guidance, read about the good and bad bets on the table.