Understanding Craps Streaks

Throughout its existence, the game of craps has gradually turned into one of the traditional casino games, which is the reason why hardly you will encounter a casino be it a brick-and-mortar or an interactive one which has not incorporated the game into its portfolio. In fact, craps lists among some of the most enthralling and captivating dice games as gambling enthusiasts simply need to wager on the outcome of a toss of two dice. Even though it does not sound like a big deal, the variety of the betting options is what makes rookies stay away from the craps tables.

Inexperienced craps fans who are still learning the nuts and the bolts about the game should keep in mind that they need to pay special attention to streaks as they can greatly influence their betting session. In essence, streaks are a vital part of playing craps and as such you should be well aware of the fact that as long as you employ them in an appropriate manner, you can rest assured that they can be the stepping stone to enjoying better results. If you fail to exploit streaks in a proper manner, this can cause you a lot of damage, which is the reason why you should go all out in order to learn the ropes.

Craps Streaks Explained

Craps StreaksIn most cases, a streak is described as an event for which the chances to take place more than once in a row are roughly 50%. Thus, let’s take as an example a toss of a coin and let’s presume that you have flipped it at least ten times. As long as you notice that eventually, the heads and the tails alternate, this will mean that during the flip of the coin, there was not a streak.

As it turns out, one of the most common misconceptions among gambling enthusiasts is that as long as there is a particular event, which has taken place several times, there is another event, which is opposite to the first one, and which automatically becomes more likely to take place. It is important to note that such beliefs can greatly affect your gambling experience, which is why craps lovers should bear in mind that it does not matter how many times a specific event has occurred due to the fact that the probabilities once again will stand at 50%.

Avid craps fans should be informed that if they fail to manage streaks in a proper manner, this can cause their betting session a serious harm. That is namely the reason why we want to make sure that you have come to grips with streaks in craps, which promises that you will enjoy better results. In order to do so, we will provide you with an example, so that you could get a clearer picture.

In order to make things plain, we will take as an example a roulette game and we will assume that you have decided to make your stakes on black and red. As you can probably guess, the probabilities are once again 50/50. Now, let’s assume that you have decided to take advantage of the Martingale betting system that is one of the oldest and the most preferred systems of betting, which can be utilized not only while playing craps, but also while playing some of the other casino games. What makes the betting system so well-liked is the fact that it allows craps lovers to recoup their losses and even to sweep some profit. The way it functions is quite straightforward due to the fact that when you experience a loss, you simply need to make a stake, which is twice as big. Thus, what eventually happens, is that you make bigger wagers, from which the house profits.

Despite the fact that many gambling enthusiasts are allured by the idea to compensate for the losses they have experienced, as it turns out, many accomplished casino fans consider that the Martingale system is lousy and that it would be better if you abstain from taking advantage of it. Perhaps, you are aware of the fact that according to this particular betting system, craps lovers are required to stick to a specific minimum bet they should keep on placing until the moment when they experience a loss.

As stated above, when this happens, avid casino fans need to double their initial bet. As you can probably guess, in the event that you experience another loss, once again, you will be required to make a bet, which is twice bigger. Gambling aficionados should continue in this manner until the moment a win occurs. Thus, if we assume that you have experienced 5 losses and you have placed only one winning bet, you can still be ahead. This is namely the moment when many gambling enthusiasts are misled due to the fact that they consider that they have managed to sweep a prize without even beating the casino odds.

If we presume that the minimum bet you have set at the beginning of your play is $10, this will mean that as long as you experience a loss, your bet should grow to as much as $20. Thus, when another loss takes place, you will be compelled to wager a total of $40, whereas a third loss will cost you $80. As you can see, the amount of the stakes you need to make grow at quite a fast pace and the profit you will get ultimately is only $10, which is quite a small profit, considering the risk at which you put your funds.

If we go slightly further and we presume that this is not your lucky day and that eventually, you have experienced 9 losses, this will mean that according to the Martingale betting system, you should end up betting $10,230, and the profit you will have at this point is only $90. This is a prime example of how you should not manage streaks while playing craps due to the fact that eventually, you can easily exhaust your bankroll, without even being aware of this.

Instead of placing a bet which is twice bigger when a loss occurs, every experienced gambler will advise you to increase your stake when wins take place. In order to deal with losing streaks, you simply need to allow them to live their course so that your bankroll could last longer.

Gambler’s Fallacy

Placing Bets in CrapsOne of the most important things you should remember about casino games, including craps is that you should definitely try to deal with gambler’s fallacy as otherwise, you can easily become trapped.

Perhaps, now you wonder what does gambler’s fallacy mean. In fact, we paid some attention to it, but you simply did not know that it is called like this. As it was already stated, many gambling enthusiasts erroneously think that when they wallow in a game with fixed odds, recent events can influence the outcome of future events. If this rings a bell, perhaps, you remember that in such cases, some casino fans will say that a certain event is due, which in other words means that it is about to occur. Perhaps, you have encountered at least one player who says that he/she will take down his/her Place bet due to the fact that the 7 has not popped up recently, which means that it is due.  

In the event that a 5 has appeared in this roll, this does not mean that it cannot show up in the subsequent roll as well. Players should bear in mind the fact that the dice do not possess a memory, which is the reason why the chances for the 5 to appear once again remain unchanged and they are the same as the chances for the rest of the numbers to show. The reason why you should try to deal with the gambler’s fallacy is that as it turns out, quite often it can make us place certain bets or make certain moves that normally we would not.

Variance in Craps

Craps VarianceAs long as you are not a total rookie at playing craps and casino games as a whole, perhaps, you are well aware of the meaning of the term house edge. As you probably know, it describes the leads the house has over you while you are playing a specific game. As far as the game of craps is concerned, one of the main reasons why so many players go for it is that it has a smaller house edge in comparison with the rest of the games which are at your disposal when you visit a land-based casino or when you sign up for an account at any of the interactive casinos.

Still, a large number of the avid casino fans do not know what is the key to the success of some players. This is where the term “variance” comes due to the fact that it is used to indicate what are the chances for craps lovers to deviate from the house edge the game has or in other words, it shows the likelihood of the specific outcomes to take place.

Now, let’s return to the example with the flipping of a coin. If we assume that tails losses and heads wins, as you already know, over the long term, the number of the wins and the losses you will have will be approximately the same. Since the number of the wins is so high, gamblers should know that this means that the game is of low variance. When you revel in a game with low variance, instead of winning some staggering prizes, but experiencing losses more often, you can expect to pocket modest prizes quite often.

Occasionally, high variance games enjoy greater popularity among players because of the higher prizes they offer. Despite the fact that while playing such games, you are more likely to experience losses more frequently, as long as you manage to hit a win, in most cases, it is a whopping one. A prime example of games which have high variance are slots.

As long as you prefer sweeping modest prizes on a regular basis, however, you should be informed that table games are what you are looking for. In fact, craps ranks among the lowest variance games, but craps lovers should remember that their favorite game is all about statistics and math. Just like every other game which can be found in casinos, craps is also created in such a way so that math works against you. Since you are already aware of this fact, you are given a certain advantage as you will be able to use this in your favor. Still, avid casino fans should be well aware of the fact that they will not be able to beat the house, especially over a prolonged period of time.

Now, let’s return to the flipping of a coin and let’s presume that a total of 30 flips have taken place. It is important to note that since the sample size is relatively small, the results players can enjoy might be skewed, meaning that tails might show more frequently, for example. Even though most of you might expect that the number of the heads and the tails will be equal, things are slightly different because of the small sample size. Thus, if we assume that we have flipped the coin 30 times and eventually, there are 25 heads and 5 tails, therefore the distribution variance functions properly due to the fact that the results we are presented with do not coincide with what was expected.

It is important to note that in such cases when the number of the flips which took place is so small, the variance can be greater. In essence, the variance is responsible for the so-called hot and cold streaks.

Now, if we apply this to the game of craps and we examine a shorter period of time, we can say that players stand a good chance that the variance can hit any moment while they are reveling in the game, thus allowing them to clobber the casino operator. Still, it is important to note that this is possible as long as you are not hooked and you do not play craps for hours on end. Your chances to experience better results can be severely hurt when you play long hours due to the fact that eventually, your winning and losing streaks will even out, just like it happens with the coin toss when hundreds of flips take place.

Tips for Playing Craps

Craps Field Bet StrategyCraps is so well-loved by gambling enthusiasts for a range of reasons with the main being that the game has a relatively small house edge as long as you know which are the most appropriate bets. What is more, it is a great source of entertainment and for the most part, it is a game of chance, meaning that there is almost nothing you can do in order to enjoy better results. Still, here, we have compiled several tips you can take advantage of while playing craps and which you can turn to your good account.

In the first place, we will advise you to focus on the fun side of the game. If you have played craps before, perhaps, you are well aware of the fact that the game is extremely enthralling. When joining a craps table, gambling enthusiasts should be prepared to win and to lose as well. Thus, as long as you pay more attention to the fun side of the game, you will definitely enjoy yourself, irrespective of the results.

One of the preconditions of playing craps is knowing the different types of wagers, which are at your disposal. As long as you are still a beginner, you can simply adhere to the most basic bet types and once things have fallen into place, it will be much easier to broaden your gaming horizons by learning how the rest of the betting options function. In addition to this, as far as the game of craps is concerned, gambling enthusiasts should also acquaint themselves with the possible dice combinations and also with the chances for the specific combination to be rolled due to the fact that this can greatly influence your play.

Another thing which can also help you enjoy better results is using an online casino while you are making your first steps at playing the game. Even though playing craps is not that a hard task, if you decide to join any of the crowded craps tables at the land-based casinos, you might become fearful, especially when you do not know what to do next. Thus, you will be provided with greater comfort and making a mistake will not make you that anxious.

Another major aspect of playing craps is keeping your discipline. Even though at first glance, this might seem like something minor, this is a tip you can make use of while playing all casino games. In fact, it does not matter whether you are winning or you are losing, you should invariably make sure that you know your limits. Thus, if you start placing higher bets hoping that you will win more or that you will recoup your losses, eventually it might turn out that you have spent all your money. That is the reason why craps lovers should strive to make stakes they are comfortable with.

And last but not least we should mention the fact that gamblers should make sure that they know the table etiquette. As long as you know what exactly you should do, you will definitely enjoy your gambling experience to the fullest.