The thing to remember if you want to win at the game of craps is to only make bets which give the house (Casino) the least advantage. The house will always enjoy an edge over you, the gambler. But, by following a few basic rules you can lower that edge to less than one percent (1%), which is lower than most any other type of game a Casino offers.

In order to win you must begin with a reasonable bankroll. Too little money and you will not be able to take advantage of a "hot roll", too much at any one time on the table could wipe you out quickly. You must also be willing to play aggressively. But not so aggressively, that a single roll wipes you out. Therefore, this strategy is intended to inform you of not only which bets are best but also when to stop betting. Finally, you must know when to leave the table, either as a winner or loser.

There are many fine books in print and sites on the Internet regarding the game of Craps. These books and sites go into much greater detail on winning strategies. Therefore, we will look at only two basic strategies. The first is betting "right" or with the dice. The second is betting "wrong" or against the dice (NOTE: Just because you are betting "against the dice" does not mean you are betting "with the house". Remember the house always has the advantage no mater which type of bettor you are).

NOTE: These strategies are for Crap games which offer Double Odds. Regardless of the amount of odds offered at a table, you should always take the highest odds that your bankroll and stomach can handle.

BETTING WITH THE DICE (With Double Odds Allowed)

Start by making a two unit bet (in this case $10 or two $5 chips) on the Pass Line. If you crap-out, make another $10 bet on the Pass Line. If you get a natural (7 or 11), pick up your winnings but leave your original $10 bet. Once a point is established, you would take full double odds on your bet. On a point of 4, 5, 9 or 10, you would put $20 behind your $10 Line Bet (odds for a 4 or 10 pay at 2-1 or $40 in this case, odds for a 5 or 9 pay at 3-2 or $30 in this case). On a point of 6 or 8, you would put $25 behind your Line Bet. Although, technically this is more than double odds on a point of 6 or 8, must Casinos allow you to take odds on these numbers in increments of 5 units since the odds for a 6 or 8 pay at 6-5 (or $30 in this case).

Now make a $10 bet on the Come. Follow the same rules as above being sure to take the full double odds once your Come point is established. Follow this bet with yet another $10 Come bet with full double odds. You now have three numbers working for you (one on the Pass Line and two Come bets).

If you find yourself in the middle of a "Hot Roll" you should take advantage of this by making yet another Come bet. Eventually, you should double your original two unit bet by making a $20 bet on the Come rather than $10. But you should only do this after you are ahead by at least 20 units (in this case $100).

IMPORTANT: Once you finally do seven-out, always start with your original two unit bet on the Pass Line. You are very susceptible to short losing streaks which could wipe you out if you continue to play too aggressively (remember the house always has an advantage).

BETTING AGAINST THE DICE (With Double Odds Allowed)

While the majority of craps players are "right" bettors, from a strategic point of view, betting "wrong" is just as capable of winning as betting "right". The odds are basically the same (in fact, there is an extremely minute advantage in favor of wrong betting). Still players feel uncomfortable about having to "lay" odds (putting down more money on free-odds then will be won).

Start by making a two unit bet (in this case $10 or two $5 chips) on the Don't Pass Bar. If you win with a craps, pick up your winnings but leave your original $10 bet. If a natural (7 or 11) comes up and you lose, make another $10 bet on the Pass Line. Once a point is established, you would lay full double odds on your bet. By "laying" odds you are putting down more than what you will win. If the point is 4 or 10, the lay odds would be $40 for a potential payoff of $20 (2-1). If the point is 5 or 9, the lay odds would be $30 for a potential payoff of $20 (3-2). If the point is 6 or 8, the lay odds would be $24 for a potential payoff of $20 (6-5).

Now make a $10 bet on the Don't Come. Follow the same rules as above being sure to lay the full double odds once your Don't Come point is established. Follow this bet with yet another $10 Don't Come bet with full double odds. You now have three numbers working "against" you (one on the Don't Pass Line and two Don't Come bets).

If you find yourself in the middle of a "Cold Roll" you should take advantage of this by making yet another Don't Come bet. Eventually, you should double your original two unit bet by making a $20 bet on the Don't Come rather than $10. But you should only do this after you are ahead by at least 20 units (in this case $100).

IMPORTANT: You should only increase your bet during a "Cold Roll" (remember the house always has an advantage).

Source: CrapDice.com