What to do
Enjoy your self and set a stop loss amount, which should be treated as a payment for the entertainment, like a ticket to the theatre. For example if your bankroll is $200. Set $100 as a stop loss limit and stop playing once you lose $100. That is the price you have paid for paying craps. On the other hand if you win $100, then keep $150 aside. Now your loss is limited to $50. Play as much as you want with the remaining $150, but keep putting something aside every now and then if you are winning.
Use the ‘press it’ option to play with your winnings. For example if you win on a bet of 6 or 8, the dealer gives you your winnings but lets your bet be on the table, unless you ask for it. Let the bet ride. If you win a second time ask the dealer to ‘press it’, which means to add the winnings to your bet. You have already got your original bet amount back and can be more adventurous for a while.
Choose the bets wisely. The pass line with odds bet is the best bet there is in craps, but it gets boring playing the same bet after a while. There are other bets with low house edges, but unfortunately casinos do not report house edges. You should know the odds for each bet and from the payout be able to figure out the house edge. If you have a problem with numbers there are many places on the net that report house edges. Odds do not change from casino to casino but payouts might. You need to keep this in mind.
Craps dealers expect to be tipped. If tipped, they cannot change the roll of the dice and will not give you extra chips when you win, they can make your time at the table more fun. The expected way to tip the dealer in craps is to place a bet for the dealer. If the bet wins, the winnings are kept aside in a collective pool for the dealers.
What not to do
Avoid sucker bets. There are many bets in craps, which under the normal payouts have a house edge of greater than 10%. These are made attractive by exotic names like Hard way 4, Whirl, Horn and Hi-lo. Even craps, the bet that has given the game its name, has a very high house edge and should be avoided.
No betting system can guarantee winnings. Avoid them. One of the most common systems used is the Martingale system in which the player doubles his stake when he loses on bets that pay even money. This system has two serious drawbacks. The maximum that can be won is the original stake. Most craps tables have an upper limit to bets and when that is reached you cannot double and the system comes unstuck.
Do not fall for the gambler’s fallacy. Every roll of the dice is independent. Past rolls have no influence. If a seven has not been rolled for 15 turns, the probability of getting a seven does not increase.
Avoid dice setting techniques since they do not work. Once you toss the dice to hit the wall it makes no difference what number was on top and what number was on bottom. All numbers have equal probability of showing up.