Win Goals and Loss Limits in Craps

by Larry Edell, published on Wednesday, October 3 2001

The reason you need a win goal is because tables fluctuate. You can be up $100 one moment and down $100 the next. How do you know when to stop and still leave with a profit? Your win goal is based on your individual session money, and should be 30% of your buy-in. For example if you buy in with $100 and are $30 ahead, you should quit. Leave the table and go to your room, or have lunch. Then an hour or so later, buy in with your $130, and quit when you’ve won $39. Be precise. Be disciplined. Follow the plan! Set a win goal and stick to it! If you keep on playing until you lose all of your money you will do exactly that. The opposite of a win goal is a loss limit, and its also 30% - very easy to remember! If you buy in for $100, you leave when you win or lose $30. If you buy in for $500 you leave when you win or lose $150, which still leaves you with $350. You really need a loss limit. If you play thinking that you brought $500 so the most you can lose is $500, then you certainly will lose it all. A lot of people bring $500 to a casino really expecting to lose. It doesn’t bother them because it was “extra” money that they could afford to spend on entertainment. So they just keep on playing until it’s all gone. Wouldn’t it be better to stick with your loss limit and come home with $350 rather than nothing? One of the cardinal rules of craps is to increase your bets while winning but decrease them while losing. But when many people start losing, they keep on playing as if nothing was different, or worse, they keep increasing their bets. Don’t do it! You need a loss limit, and you need to stick to it. I know, you are hoping for that huge roll where you can turn $5 into $50,000. But really, how often does that happen? You might know someone who knew someone whose best friend’s cousin held the dice for five hours and the casino almost went broke. Everyone knows someone who knows someone who did this! But we’re talking about your own money here, the same money you use to pay for rent, food and your children’s shoes. It is not a disgrace to come home after a weekend and only win $150. Or even $50. You can always lie to your friends about it. But when it comes to your own hard-earned cash, you’ve got to protect it. Remember, go into a session expecting to win “only” $30 on a $100 buy in. Stop when you reach it. If you’re losing, quit when you lose $30. In five $100 sessions the most you can lose is $150. The most you can win is $150. Stick to your guns. Set a win goal and a loss limit. Over the long run, you’ll win more and lose less! And, as always, good luck at the tables!