In our opinion, the best strategy for playing craps is to have both a win limit and a loss limit, and to place good bets. The reason for setting a win and loss limit is that Craps is a negative expectation game. You cannot beat the house in the long-run. However, you can beat the house in the short-run. There have been players that have literally won upwards of $11,000,000 playing craps, only to lose everything back to the casino because they did not know when to walk away.
A general rule of thumb that we like to follow for a win limit is to set it at anywhere from 10%-%50. If you are winning a lot of bets in a row, we recommend going all the way to 50% above your initial bankroll. However, if you have won a lot of bets, and your bankroll is up, and you then begin to lose, do not continue if you wind up with only 10% above your initial bankroll because of the subsequent loses. Stop playing and be happy that you walked away a winner.