Playing Craps As a Business

First and foremost, if you are going to play craps to win, you need to treat playing craps as a business. In your business or profession, you would normally research and learn before investing your money. Why would not you do the same before playing craps?

Gaming establishments will gladly teach you how to play any casino game. In fact, they hold classes in the casino to teach people how to play craps. Do you believe that casino personnel will actually teach you how to win their money? Of course you do not! That is why you need the independent, unbiased advice and guidance. Read and learn as much about the game of craps as possible. Consider this. If the casino personnel actually knew how to consistently win playing craps do you think they would be working for the casino? Undoubtedly they would be playing craps professionally themselves. Think about it.

Speaking of professional craps players, yes they do exist. Most of them will not advertise or tell you that is how they make their living, but they do exist. I have been fortunately enough to have met and played with some professional craps players. Oh, bye the way, winning an average of $ 500 per day working 5 days a week, fifty weeks a year is the equivalent of $ 125,000 per year.

Before deciding to play craps as a business you must have a plan. It is imperative that you understand and realize that you must set a specific goal of how much you want to win before you even walk up to a craps table. As with any successful business they all have a business plan. So write down exactly what your plan is to win and set goals. Do not set a goal to win as much as possible. This is not specific nor is it realistic. Simply stated, you must have a pre-determined, "realistic" objective of how much money you want to win each session / day before you start betting.

Once you have reached your objective, you will know when to stop betting. There will be no guess work. Without a pre-determined objective, there is no plan. Without a plan, you will ever give back the profits you earned and may be even more to the casino. Making money is serious business. So is losing money.

You must have a plan and stick with the plan. John Patrick, in his book John Patrick's Advanced Craps, writes: "Seventy percent of craps players get ahead at one point in their casino visits. Of that seventy percent, ninety percent give back their winnings ... and then some." John Patrick's message is to know when to walk away from the craps table. Simply stated, set a "business goal" of how much you plan to win and when you win the amount walk away from the table.

You can not play craps "to have fun" and win. You either play to win or have to fun. Although winning is fun, you can not do both. If you make your goal in the first 10 or 15 minutes of play, you may become board or anxious and want to play longer. If you are at the casino to play craps, what else are you going to do? Watch? Unlikely! Unless you have the discipline to walk away with a profit, you most likely will be one of the ninety percent of the players who give back their winnings to the casino as stated by John Patrick.

There is an adage about scuba divers that says "there are old divers and there are bold divers, but there are no old bold divers." In craps, there are players who play for fun and there are players who play to win, but there are no players who play for fun who win, unless they are extremely lucky.

It is important to understand the difference between gambling and gaming! Gambling is where a person is betting a little money to win a lot of money but with a low probability of winning, ie, playing the lottery, betting the 2 or 12 on the craps layout, etc. The reason the casinos call it the gaming industry is because they are putting up a large amount of money to make a little bit of money, but with a high probability of winning. For example, slot machines pay out 98%. What this actually means is that the casinos are making 2% on every dollar bet. They win no matter what happens. With craps, they are offering to pay $ 30 for each $ 1 wagered because they have a 97.2% probability of winning, meaning the bettor has a less than 3% chance of winning.

The fact that you have taken the time to read this article indicates that you are serious about playing craps. Learn as much as possible about the game and if you treat it as a business you can be successful.

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Source by David Udjat