Craps Money Management – Increase your Craps Bankroll
Fewer casino games require as much discipline in money management as craps. The sheer number of bets, combined with the fast-paced nature of the game, confuses even the best players and literally pulls the money out of their pockets. A good money management strategy for Craps will help you focus on the game and your bankroll will also help you save money in the long run. So you can enjoy the game to the fullest without ever losing sight of your financial situation.
Basics to the bankroll: always have a separate Craps bankroll
It is immensely important that you keep your Craps bankroll far away from your account with which you pay such important things as your pension, your children’s school fees and your weekend purchases. If you’re not careful, you might even come to a point where even toilet paper gets expensive. It’s better to prevent this from happening.
It’s always very tempting to invest more money when a hot shooter is playing at the table – but this damn seven could shatter you. If you’re naive enough to mix your personal finances with your play money, it could put you in a really dicey situation and you don’t even end up with enough money to put butter on your old bread.
How you organize your Craps Bankroll
Once your play money is separated from your personal finances, you have to invest it smart. In order to protect your bankroll optimally, you should first decide how much you bet per shooter and how much you are willing to lose in a round of Craps. If you bring a few hundred Euros into the game at once, and then lose them within the first rounds, you probably want to add more – because the result isn’t very enjoyable otherwise.
Ask yourself if you’re willing to lose all your play money in a round, or the fifth of a round, or even only the tenth of a round. It’s smarter to bet only a part of your money on a hand to prolong the time you can play – and of course to minimize your losses. If you bet everything directly, you can also lose everything directly in the first round. If you lose your bet, leave the table. The casino will still be there when you have enough money to play again.
A smart Craps money management is just as reasonable as general money management in gambling. You should always play responsibly and only use what you can afford to lose. Always bring only your play money (and the expenses for accommodation and transport) to the casino. Just leave your credit and debit cards at home and beware of taking casino credits!
Know the best and worst craps bets
There’s always something to bet on at Craps. Even if you forego the risky proposition bets, you can always bet on a come bet, place bet or don’t come or don’t place bet, place odds, take odds and so on. In addition, unlike other casino games, the length of rounds in craps is indefinite. It goes on and on until the shooter hits the seven and a new round begins. As always, good money management starts with you as a player knowing all the betting options and developing an optimal betting strategy that takes into account your game motivation and financial constraints.
The best Craps bets
Many Craps bets have the lowest house advantage of all casino games, and it would be stupid not to play them! These bets are the Pass, Come, Don’t Pass and Don’t Come lines. Read again the Craps rules and the Craps strategy if you are unsure about how to place these bets.
If you really want to maximize your winnings and further reduce the house advantage, you should take the odds on the pass and come bets, or place the odds on don’t pass and don’t come, as often and as high as you can. For example, if the maximum amount is 5, then bet five times your original bet on the odds bet.
But of course only do that if your bankroll allows it – otherwise stick to doubling the odds. Another multi-roll bet that has a higher house advantage but is not the worst is the hardway bet. But please don’t go crazy here.
The worst Craps bets
The best way to avoid losing all your Craps play money immediately is to avoid the Proposition bets. If you have a craps bankroll of half a million Euros, then of course, risk a little money on these risky bets and their obscene high house advantage, but for most mortals that’s not the case, so betting money on it is just pointless.
If you feel like something adventurous, stick to Place 6 and Place 8 bets, which have a much cheaper house advantage than the Big 6 or Big 8 bets.
Use a betting system
Craps money management is all about having a plan before the game starts. For some, this simply means leaving the table after a certain amount of losses. However, many other players prefer certain betting systems to structure how, when and how much they bet, and when they should stop altogether.
Paroli Betting System
Paroli is a betting system with positive progression.
With such betting systems, you only increase your next bet if you win. If you lose, the next bet is either reduced or you start the betting system from the beginning.
For Paroli you set a starting amount at the beginning, it can be for example the minimum bet amount at the craps table.
If you win, you increase the amount of your bet in the next round.
If you lose, you start from the beginning with the starting amount.
You don’t need a big Craps Bankroll.
However, you need to know beforehand how many units you want to raise before you take a bet off the table.
Read our Paroli betting system article to better understand how to use it in detail.