In Craps, Time is Money.

Craps is the most volatile of all casino games. Small fortunes can be won by high rollers in a short period of time when the dice are hot. Even players with modest bankrolls and conservative methods of play can take handsome advantage of a fortuitous roll.

On the flip side, small fortunes can be lost and modest bankrolls can vanish in the blink of an eye when the dice are cold. That’s what gambling is all about. Whereas you can never predict what the trend will be, you should be equipped to know how to capitalize on good fortune when it does appear.

It has been my experience playing craps that the smartest move you can make when you’re ahead or have just lucked into a windfall profit is to make plans to end your playing session while you’re still a winner. In other words, don’t bet it all back!

The surest way casinos have to relieve you of your winnings is for you to keep playing, and playing, and playing. If it isn’t Lady Luck who winds up doing you in, it’ll be the built-in house advantage that casinos enjoy on all the games that’ll "grind" your session bankroll from your grasp no matter how far ahead you are.

Look at it this way: Say there are half a dozen people playing cards. Each one buys into the game for twenty dollars. A seventh person at the table doesn’t play, but takes one percent of every pot. Theoretically, the person who was guaranteed the one- percent will wind up with all the money at some point.

Since craps is such a fast-paced game, there are a lot decisions that can occur in an hour’s time. If you are involved in every one of those decisions and play for any length of time, you are setting yourself up to be a loser.

I don’t know how many times I have seen people make hundreds of dollars on a hot roll, then wind up losing it all back and then some when the pendulum of luck swings the other way.

There are two ways to protect yourself from this happening in craps and other games: First, if you are fortunate enough to make money during a hot session at the craps table, set a profit goal for yourself. For example, if you bought in for $100 and you’ve made it grow to $270, you should decide to set aside $200 as your "getaway" goal and play with the $70. You may get on another winning streak with it and set another goal. If not, when the $70 is gone, you’re gone.

Just remember that the game of craps is pure luck. Winning and losing is not dependent upon strategy. It IS dependent on sound money management, making the wisest bets, avoiding those with huge vigorish, and selecting periods of time to keep your money off the layout.

No matter what game plan you select to avoid having money at risk on every decision, you’re going to become a better player. Your money will last longer and you’ll have a better chance of leaving the table a winner.