Craps Tips Video Source:
A description of one of the worst strategies, a martingale on the place bets.
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I use a similar strategy but I only play on the 6 and 8. And I keep my bets working on the come out roll.
The 6 and 8 make up 27.777% of all the possible combinations. The chance of rolling the dice 5 times and NOT rolling a 6 or 8 is 5.5% You have a 94.5% chance of rolling a 6 or 8 within 5 rolls. I have no delusion that my strategy can't lose but l have won a lot of $ playing my strategy. If your interested in trying it out let me know and I will explain my strategy.
I cannot give a thumbs up to any martingale system just because of the LARGE layout once you get to level 3,4,… and as you said crash and burn. It was wise that you mentioned if this player had won, it would be for a small profit. However, I am interested in Joe W comment about the 6 & 8 and will be watching future game play to see how true this is. Keep the great content coming with the good, the bad, and the ugly of each strategy.