Craps Money Management Strategy
M oney management in the game of craps is not as simply as money management is in other casino games like blackjack and roulette. At crapspit.org we believe this is because craps money management takes a lot more concentration and skill than many of the other casino games do. Therefore when you play craps for money you need to manage your money in craps you will need to develop a system that incorporates sound budgeting skills as well as a little self deception.
The Craps Budget
Before you enter an online casino or a physical casino you need to establish a craps budget for the evening. To establish your budget first determine how much money you can afford to lose. This will be your cap amount, and once this amount has been spent you will need to stop gambling.
The second step in developing your craps budget is to establish your per hour gambling rate. To do this you will need to divide your total budget by the number of hours that you plan on staying at the casino. For example if you have $200 to gamble with for four hours you would simply divide your $200 by four. This leaves you with $50 per hour to gamble with.
Finally to help simplify your spending budget determine how many games of craps you can play in one hour based on your budget and the minimum bet amount, which will be set by the casino. For example if the minimum craps bet is $2 and you have a $50 per hour craps gambling budget then you can play 25 games of craps per hour. This formula will give you the maximum number of games that you can play each hour based on the assumption that you only make minimum bets. If you want to make larger bets then you will need to adjust your calculation.
Self Deception Tricks to Manage Your Money
There are a couple of different ways that you can trick yourself into budgeting out your gambling money during a night at a casino. The first way is to buy chips in phases. For example if you only have $200 to spend during four hours you may want to buy $50 of chips every hour. This will force you to save your remaining money for play during later hours of gambling, or it will at least slow your gambling down as you will have to buy more chips before you can continue playing. To further stretch your money out, make it a point to get up from the table and go to the cashier to buy more chips, instead of buying them at the table. This will help clear your mind, use up time, and prevent you from making compulsive bets that can cost you money.
Another self deception trick is to split your stack of chips into two or more piles. You keep one pile of chips in front of you to play with while the other chips are placed in your pocket or out of sight to be used later. This will help you to reduce the chances that you will blow through all of your chips in one sitting.
Money management in the game of craps can be difficult because the game moves so quickly, and because there are so many ways that you can participate in the game. To keep control of your game and money, you will need to establish a gambling budget and manage how many bets you make in an hour. To do this you can use the self deceptive tricks mentioned above, or you can develop one of your own. Once money management is in check, you are ready to play craps for real money!
Here are some links to some articles that you may find of interest:
- The Wisdom of Setting Win/Loss Limits
- How to Properly Plan and Budget Your Gambling Vacation
- Know When to Quit
You can also head over to the table of contents to find more great content.