He played for the Kansas City / Oakland Athletics, Milwaukee Brewers, Boston Red Sox, St. Louis Cardinals, and Atlanta Braves from 1961 to 1974.

Krausse was the son of a former Philadelphia Athletics pitcher who remained with the organization as a scout after it moved to Kansas City.

[2] He was signed as an amateur free agent by the Kansas City Athletics on June 8, 1961,[1] several hours after graduating from high school.

[2] The Athletics gave him a $125,000 bonus contract that also included a guarantee that the young pitcher would have a chance to pitch in the majors that season.

"We packed the park the first four times [Lew] pitched for us and probably got our money back," recalled team owner Charlie Finley.

He did not win again until his final outing of the year, when he held the Washington Senators to two runs in a complete game, 3–2 victory on September 17.

[8] In 12 games (eight starts), he had a 2–5 record, a 4.85 earned run average (ERA), 32 strikeouts, 46 walks, and 49 hits allowed in 55+2⁄3 innings.

The Rangers were the lowest-scoring team in the league; sportswriter Bob Franklin quipped that "The Texans at times couldn't have bought a run if Billy Sol Estes was the plate umpire".

[18] Encouraged by his performance, Athletics general manager Eddie Lopat remarked, "He has shown a lot more maturity … [and] has a chance to be an outstanding pitcher.

[21] When Rollie Sheldon was traded to the Boston Red Sox on June 13, Krausse took his spot in the starting rotation.

[24][25] Two days later, in his first start of the year, Krausse held the Chicago White Sox to three runs over seven innings, earning the victory in a 5–4 triumph.

[21] Facing the Yankees in the second start of a doubleheader on August 19, Krausse held them scoreless for eight innings and earned the win in a 1–0 victory.

Resuming his spot on the mound on Sunday, Krausse left with 7+1⁄3 scoreless innings pitched, earning the win in the 1–0 triumph.

On July 7, Krausse allegedly fired a .38 caliber pistol from Kansas City's Bellerive Hotel into an empty office in the Phillips Petroleum building, though the police never filed charges because of insufficient evidence.

When Dark refused to enforce the suspension, Finley summoned him to his Washington, D.C. hotel room during an Athletics road series against the Senators.

Still forced to pay the fine, Krausse demanded a trade, as did fellow pitchers Jack Aker and Jim Nash.

[2] In a career-high 48 games (19 starts), he had a 7–17 record, six saves, a 4.28 ERA, 96 strikeouts, 67 walks, and 140 hits allowed in 160 inning pitched.

[1] His 17 losses tied with teammates Catfish Hunter and Jim Nash for third in the AL, behind George Brunet's 19 and Steve Barber's 18.

[43][44] The Athletics had moved to Oakland, California, following the 1967 season, and Krausse started the first game at the Oakland-Alameda County Coliseum on April 17, allowing four runs in 5+1⁄3 innings and taking the loss in a 4–1 defeat to the Orioles.

[48] Krausse returned to the rotation in July when Nash was moved to the bullpen to regain his strength after suffering arm trouble.

[2] On January 15, 1970, Krausse was dealt to the Seattle Pilots with Ken Sanders, Phil Roof, and Mike Hershberger in exchange for Don Mincher and Ron Clark.

On April 7, he started the first game in Brewers history, allowing four runs in three innings and taking the loss in a 12–0 defeat to the Angels at Milwaukee County Stadium.

"[56] He threatened retirement and said that he and his fellow Brewers starters would have more wins than the pitchers for the Orioles were they members of the eventual World Series champions.

[1] Ten days after the 1971 season ended, on October 10, Krausse was part of a ten-player trade that sent him, Pattin, Tommy Harper, and minor-league outfielder Pat Skrable from the Brewers to the Red Sox for George Scott, Jim Lonborg, Ken Brett, Billy Conigliaro, Joe Lahoud and Don Pavletich.

[1] He spent most of the season with the PCL's Tucson Toros, posting a 6–4 record, 12 saves, a 2.49 ERA, 54 strikeouts, 43 walks, and 110 hits allowed in 105 innings over 45 games (three starts).

[1] After he posted a 1.08 ERA in 11 games with Tucson, the Braves repurchased his contract on May 16, adding him to their bullpen when Ron Reed went on the disabled list with a broken finger.

[1][9][64] Krausse won his first outing with the Braves, pitching scoreless 10th and 11th innings in a 5–3 triumph over the Los Angeles Dodgers on May 17.

[65] In the second game of a doubleheader against the New York Mets on August 23, he started and allowed one hit in six innings, earning the victory in a 6–0 triumph.

Other fields he labored in included dock work, real estate, season ticket salesman, and hotel public relations.

[71] Continuing to serve as a salesman after his career, in 1983, Krausse took on a larger role when he partnered with Fred Paulsen and Bill Drummond to start a metals service center in Kansas City.