When to cut losses in wrong way craps betting?

I have had very good success in betting wrong at the $25 DP/DC max odds (5x) level (odds of 150 6/8, 180 5/9, 200 4/10...I know, for 4/10 its not max, but empirical data shows it is worth the lesser amount) with a $2K buy in, no more than 2 numbers in play at any one time, no more than 3 numbers per shooter to avoid chasing big red. This is the bedrock of my bankroll management plan. HOWEVER, the hole in the strategy seems to be when to quit when the table is hot and the wrong way is the wrong way. My estimate is that when the bankroll is down to one third of buy in, that's when I should seek another table or time. Statistically based opinions?

Unless you're playing a positive expectation game where
you have the edge, there is no winning strategy. Its all
just one long game where you end up losing to exactly
the house edge. The math never lies.

I wish you continued good luck then but I fear that three losses in succession and you will be at your stop-loss trigger point. And losing my first three rolls has happened all too often to me.

Quote: bourbonstreet

My estimate is that when the bankroll is down to one third of buy in, that's when I should seek another table or time. Statistically based opinions?

It makes no difference. You just pick up where you left off,
whether you believe it or not. You can't trick or fool the math
in a negative expectation game.

Statistically it doesn't matter (except the less you play, the better). I suppose you could choose not to place a bet you can't back up with odds, but otherwise, what Bob said. The higher you set your stop loss, the less you'll play, which is good.

Mathematically, it makes no difference what has happened previously. However, consider halving your base bets after each loss, and pressing 50% of wins. This should stretch your playing time before you hit your stop loss, while allowing you to cash in on extended PSO streaks.

Quote: EvenBob

You can't trick or fool the math in a negative expectation game.

How do you trick or fool the math in a positive expectation game?

Bob, after reviewing all that the Wizard has taught me and your on point analysis, you are absolutely right. Hot/cold tables/shooters really don't matter. It's all the law of large numbers (Mensa Guide to Casino Gambling). Thank you muchly for clarifying my thinking on this matter.

BTW, last weekend in AC was AWESOME. Hope this weekend is the same. If not, oh well. That's why they call it Gambling.

Quote: bourbonstreet

Hot/cold tables/shooters really don't matter. It's all the law of large numbers (Mensa Guide to Casino Gambling).

If you're going to play/practice a lot, you'll eventually
see it happening right in front of you. Think of it as
a sine wave, with daily play represented by high peaks
and valleys, and long term play represented by gentle
ups and downs, almost a flat line, but not quite. I only
think about the long term and ignore the peaks and
valleys.

hot/cold tables/shooters really don't matter. It's all the law of large numbers (Mensa Guide to Casino Gambling).

That whirring sound you hear is John Patrick spinning in his grave.
'

Quote: buzzpaff

That whirring sound you hear is John Patrick spinning in his grave.

JP is alive and well and living in FL.

Glad to hear that. Knew he was gravely ill a few years ago. Evidently the Grim Reaper was not charting John's table.