Make Money Craps
The dream of every real gambler is to make a living out of his favorite game. If your favorite game is craps, you should think about making a living from this game only. If you win at craps $25 and you play 8 hours a day you will actually make around $50,000 per year. This is not bad for the average person and you are able to do that just by playing your favorite game. In the lines below you will find out how this dream can come true for you.
Play Live Dealer Craps at the Casinos Below
Craps is one of the most popular casino games and is said to have a very low house edge for some of the bets at least. For example, the house edge on the Pass Line is a mere 1.41% whereas, on the place bets on 6 and 8, it is 1.52%. The house edge on odds is zero. These are great numbers if true. Expected Income When Playing Craps for a Living. We know poker is a poplar game for going pro, but professional craps players do exist and they do make money. Pro craps players can make up to $50 000 a year. But, this is only if you make consecutive wins and experience very minimal losses. Making $50,000 per year by playing craps may sound like a dream but it is nothing in comparison to the opportunities. For example, if you can make $25 per shoot, the amount is actually about $150 per hour and thus more than $300,000 per year. The amounts increase as the hourly wage increase but this is not the essence of the article. Here's the most important key - To win money at craps: DO NOT gamble with money you can't afford to lose. If you're planning a trip to Las Vegas, make sure you've been saving a small percentage of your earnings for a few months. So, if you lose it, you won't get stressed or depressed. Craps is one of the smartest ways to bet and win cash. Blackjack and video poker have better odds but require memorization and strategy. In both cases, if you don’t use good strategy, your house edge balloons. Our recommendation is to try online craps for real money.
Making $50,000 per year by playing craps may sound like a dream but it is nothing in comparison to the opportunities. For example, if you can make $25 per shoot, the amount is actually about $150 per hour and thus more than $300,000 per year. The amounts increase as the hourly wage increase but this is not the essence of the article.
Playing Professionally
If you want to make this kind of money, you should play professionally. This means that you should avoid distractions of all kinds. If you will be distracted you can lose a lot of money. This can also happen if you let your emotions control you.
None of these things are good when playing craps for a living. The great thing about playing craps instead of working is that you do not have to pay a lot of taxes and benefits. Besides, you do what you like so you will not see playing as a chore.
The best thing about playing craps for making a living is that there is no real competition. This does not mean that there are no other people playing craps for a living but they also play against the casinos so you will not be disturbed by them. For poker players, as an example, there are a lot of interferences between the best players both online and offline.
Playing and Winning Everyday?
There are some things you should know before you decide that playing craps will be your next job. First of all, you need iron discipline. Secondly, you need to have a good starting bankroll for managing the downswings. It is a known fact that you simply can’t play every day and expect to win every day. There will be days or even weeks when you will lose.
The biggest problem of them all is probably the fact that onl
y a few casinos in the United States operate with craps tables. If you are not lucky to live in Las Vegas for example, it can be really hard to make money as you will need to move first. The travel expenses can be pretty high in comparison to the income as a player.
In this second part of this article, you will find out the exact strategic things you need to know for beginning your career as a craps professional player. If you want to make serious amounts of money every year, you need to start with the beginning. The beginning means the strategy that brings you $25 every shooter.
If you want to be successful while playing craps, you should not consider it a hobby anymore. You should consider it a way of life and treat it professionally. There are a few things you shoul
d have in mind before you start your advent in the craps world.
First of all, you should stay at the craps tables only for short spans of time. Also, you should not get greedy no matter how much you win. Greed is the enemy of every bankroll and you should have it under control. You should not gamble if you are depressed, tired or you are not feeling at your best. This is a general rule of gambling and it applies to craps as well.
Another general gambling rule says that you should not risk money you do not have or you can’t return in case you lose. When you start losing, you should not increase your bets because you will only lose much faster. Substance abuse is of course something you should not even think about while playing craps for a living. This is because you need to focus at all times for the best results.
Earning $50k A Year and Up Playing Craps
There are many professional craps players and they earn much more than $50,000 per year. However, this does not mean that they do not have their bad periods. This is why they never brag and this is why you have not heard about them. If you want to be a player you should think about which strategy you will be using at the craps tables.
Many people think that playing craps for a living is impossible. Actually, this is a reality that many people face. If you want to make a living from playing you should know what to do because you will surely not be able to make money without strategies and a proper bankroll.
A proper bankroll and money management scheme are the two things you should never forget about if you want to make money and become a professional craps player. If you do not want to lose your bankroll, you should make sure that you do not bet more when you lose.
Also, you should play at the tables with limits you can afford. You should not play the hero because you will burn if you will play at the high stakes craps tables with a small bankroll.
Andy has been playing online slots for over a decade and has a wealth of experience working in the online casino sector. Always keen to share his knowledge of slots games you can be sure he’s bringing you the best tips and updated stats about every game he reviews!
by Henry Tamburin
This is a controversial article because it is going to present a different view on how to determine what are the best bets on the crap layout. For example, if someone were to ask you to selectwhich of the four bets is the best bet, which one would you, pick?
- $5 bet on the pass line.
- $1 bet on the Field
- $6 Place bet on the 6
- $1 bet on Any Craps
Most players would pick bet number 1, the $5 pass line bet because “it has the lowest casino edge” compared to making bet 2, 3, or 4. Before we go on with our analyses let’s make sure youunderstand what the casino's edge is really all about and why it has its shortcomings.
We all know that casinos can’t depend upon luck to generate the income they need to pay their expenses and have a few bucks left over as profit in profit for their shareholders. To ensurethemselves a steady income they must have a mathematical advantage over every crap-shooter at all times. How do they create their advantage in the game of craps? They do it in two different ways but with the same result.
Take a bet on the pass line for example. Based on the rules for winning a pass line bet, for every 1,000 bets a player makes, he will win 493 on average and lose 507. In other words the rulesfavor the casino winning more bets than the player. How much more? If you bet a buck every time you would win $493 and lose $507 for a net loss of $14. Thus for every $1,000 worth of bets youmake on the pass line the casino stands to win $14 or 1.4% simply because the rules favor the casino winning more times than the player.
The casino creates its advantage on other crap bets a little differently. Take the bet on any seven whihc is a one-roll bet that the dice will show a 7. If you win that bet the casino will payyou $4 in winnings (4 to 1 payoff). That’s very nice that they give you $4 for only a dollar bet, but unfortunately it isn’t quite enough. You see the number 7 can be rolled in 6 different dicecombinations out of a possible 36 combinations. You can only roll the number 7 with a pair of dice when the following numbers show: 1,6; 2,5; 3,4; and the opposites 6,1; 5,2 and 4,3. Any otherdice combination – like 3,6 or 2,1 – will yield a non-7 number. There are in fact 30 combinations that yield a non-7 therefore the odds that a 7 will appear are 30 to 6 or by rounding 5 to 1.That is the true mathematical odds against rolling the dice and having a 7 show.
If the casino were to pay players at the same odds, namely 5 to 1, they wouldn’t make a penny profit on this bet. But being the smart business people that they are, they pay off a winning betnot at 5 to 1 odds but rather at 4 to 1 odds. By simply short changing the player one chip when he wins, the casinos have discretely created their edge on this bet. Frank Scoblete says it best:“when you lose a bet it’s lost; but when you win a bet you have a silent partner – the casino – who keeps a part of your winnings.”
Let’s be sure you also understand what the casino’s edge means in dollars and cents. The casino’s edge or advantage is usually written as a percentage. In the above example the casino’s edge onthe any seven bet is 16.7% which means a player can expect to lose 16.7% of all the money bet on any seven. It doesn’t matter whether your bets win or lose in the calculation of how much thecasino’s expect to win from you. All that’s required is that you bet and what the casino will earn day in and day out is 16.7% of what you bet. If you make a total of 25 one dollar bets on anyseven during the course of play the casino will expect to win from you about $4 for your action (16.7% times $25). Now most likely you will win or maybe lose a lot more than $4 but the moremoney you bet the closer your losses will come to the statistical 16.7% loss rate. The casinos bank on this fact day in and day out.
Table 1 ranks all the crap bets according to the casino’s edge. The pass/come/don’t pass/don’t come bets with odds clearly have the lowest casino’s edge compared to the other bets.
Table 1 - Ranking of Crap Bets by Casino’s Edge
| Bet | Casino’s Edge (%) |
|---|---|
| pass/come/don’t pass/don’t come with 100-times odds | 0.02 |
| pass/come/don’t pass/don’t come with 20-times odds | 0.10 |
| pass/come/don’t pass/don’t come with 10-times odds | 0.18 |
| pass/come/don’t pass/don’t come with 5-times odds | 0.33 |
| pass/come/don’t pass/don’t come with triple odds | 0.47 |
| pass/come/don’t pass/don’t come with double odds | 0.61 |
| pass/come/don’t pass/don’t come with single odds | 0.85 |
| pass/come/don’t pass/don’t come | 1.41 |
| place 6 and 8 | 1.52 |
| lay 4 and 10 | 2.44 |
| field (paying 2x on 2 and 3x on 12) | 2.78 |
| lay 5 and 9 | 3.23 |
| lay 6 and 8 | 4.00 |
| place 5 and 9 | 4.00 |
| buy 4 and 10 | 4.76 |
| field (paying 2x on 2 and 12) | 5.55 |
| place 4 and 10 | 6.67 |
| hard 6 and 8 | 9.09 |
| big 6 and 8 | 9.09 |
| hard 4 and 10 | 11.11 |
| 3,11 | 11.11 |
| any craps | 11.11 |
| 2,12 | 13.89 |
| any 7 | 16.67 |
But does comparing the worth of one bet to another solely based on the casino’s edge tell the whole story? Not really, because the number of times a bet wins or loses per unit of time has notbeen factored into the equation.
Think about it for a minute. Is the number of times you win or lose a pass line bet per hour the same or different then say a field bet? How about a bet on any craps or the place bet on the 6?In fact they are not the same. Which is why a meaningful comparison of the worth of different craps bets should be based on their “cost per hour” and not solely on their “casino’s edge”.
The cost per hour is just what its name implies. It’s what the casinos expect to earn or what it costs you per hour to make a bet. The equation to calculate the cost per hour is simply theamount of the bet times casino’s edge times number of decisions per hour.
Most casual players will typically bet $5 on the pass line. You can expect in most well run games the dice will roll about 100 times per hour. The number of pass line decisions that occur inthose 100 rolls is 30. Therefore the cost per hour is simply
$5 times 1.41% times 30 decisions per hour = $2 (rounded)
By doing similar calculations for every bet you can compute each bet cost per hour and then rank them (Table 2).
Table 2 - Ranking of Crap Bets by Cost per Hour (rounded)
(assumes 100 rolls per hour)
| Bet | $ Wagered | # Decisions/hr | Cost/hr |
|---|---|---|---|
| pass/come/don’t pass/don’t come | $5 | 30 | $2 |
| place 6 and 8 | $6 | 30 | $2.70 |
| hardway 6 and 8 | $1 | 30 | $2.70 |
| big 6 and 8 | $1 | 30 | $2.70 |
| field (3x 12) | $1 | 100 | $2.80 |
| hardway 4 and 10 | $1 | 25 | $2.80 |
| field (2x 12) | $1 | 100 | $5.50 |
| place 5 and 9 | $5 | 28 | $5.60 |
| 3 and 11 | $1 | 100 | $6.70 |
| 2 and 12 | $1 | 100 | $6.70 |
| place 4 and 10 | $5 | 25 | $8.30 |
| any craps | $1 | 100 | $11.10 |
| any 7 | $1 | 100 | $16.70 |
| buy 4 and 10 | $21 | 25 | $25 |
| lay 4 and 10 | $41 | 25 | $25 |
| buy 5 and 9 | $21 | 28 | $28 |
| buy 6 and 8 | $21 | 30 | $30 |
| lay 5 and 9 | $41 | 30 | $30 |
| lay 6 and 8 | $25 | 30 | $30 |
What’s surprising when you scan the ranking of the bets in Table 2 is that several “bad bets” all of a sudden become better bets because they have a relatively lower cost per hour. Such isthe case with the hardway bet on the 6 and 8. Even though the bet is ranked low in Table 1 because of its high casino edge, it suddenly becomes a better bet when you look at its cost per hourranking in Table 2. Why is this? Simply because it’s possible to bet low amounts ($1) and the number of decisions per hour (30) is relatively low. Remember it’s the combination of casino’sedge and number of decisions per hour, which determines the ranking in Table 2.
Take a look at the hourly cost of some of the proposition bets in Table 2. If you are prone to making prop bets, you should confine your betting to the hardway 6 and 8 compared to say anycraps, any seven, or a bet on the 2/12 and 3/11 because the hourly costs are lower. If you like to bet the field, please do so in a casino which pays double on the 2 and triple on the 12. Yourhourly costs will decrease from $5.50 to $2.80. Also note how the place bet on the 6 and 8 ranks high in both tables. If you like betting on the numbers you better pay close attention to Table2. The numbers clearly show how much more it will cost you to buy a number vs. placing it.
Keep in mind that the cost per hour calculations and rankings in Table 2 is based on a specific bet size. If you bet only $1 on the pass line, for example, your cost per hour would be one fifththe figure in the Table 2 (40 cents vs. $2). Likewise if you decide to bet $5 in the field instead of $1 your hourly costs would jump from $2.80 to $14.00.
You must also keep the cost per hour rankings in perspective. Obviously one way to keep your hourly costs to as low as possible is to bet the smallest amount ($1) on a bet which doesn’t havemany decisions per hour. But that leads to a lot of rolls of the dice in which you would not be participating much and it won’t be fun playing.
So what about the odds bet which is noticeably missing from Table 2? Shouldn’t it reduce the cost per hour for the pass/come/don’t pass/ don’t come wagers because it lowers the casino’s edgefor these bets (see table 1)? Well let’s see.
Table 2 tells us that the $5 pass line bettor’s hourly cost is $2. Suppose the player wagers doubles odds. The casino’s edge for the combined pass line plus double odds is reduced from 1.41% to0.61% and the number of decisions per hour stays the same. But, and it’s a big but, instead of making only $5 bets on the pass line the player betting double shells out another $10 on the oddsevery time a point number is thrown (about two thirds of the time). His average bet is about $11.67 per decision. If you multiply $11.67 times the 0.061% casino edge times the 30 decisions perhour, you arrive at an hourly cost of $2 - the same as the pass line player that doesn’t make the odds bet. Putting it another way, the casino’s edge on the odds bet is 0 so the hourly costsfor the pass line bet is the same as a pass line bet with odds assuming the same amount of money is riding on the pass line bet. Therefore whether you bet pass line or pass line with single,double, triple, even 100-times odds, your hourly cost for the basic $5 pass line bet is always $2.
Review the numbers in Table 2 before you hit the crap tables to determine what it is really costing you to play. And remember when it comes to playing craps, time is really money.