You learned in chapter 3.4 that the variance of a multiple play game increases as the number of lines played increases. The variance of a single play game is lower than the variance of a three play game. The variance of a five play game is higher than the variance of a three play game, and so on. In this section you will find out specific bankroll sizes for a couple of games at a different number plays for each game.
Pick a game. There are dozens of different video-poker games in casinos. Different games will have different rate of returns, meaning some games, if you win, will give you a higher percentage of your money back and others will give you a lower percentage. A "9/6 Jacks or Better" paytable is the best because the rate of return is 99.54%, meaning the casino only keeps .46% of your money.
All this changed in the early 1980s when SIRCOMA, the company that would eventually become International Game Technology, decided to concentrate on perfecting the video poker console. This turned out to be a Vegas-shattering success, as it gave poker players who felt intimidated while playing on casino tables the chance to play their favourite pastime against a faceless ‘opponent’.
Why do casinos offer games that can be beaten? Because only a very small percentage of players know the basics of proper play. Enough mistakes are made that the casinos actually pay out 2 to 4 percent less than the expectation for skilled players. In competitive markets, casinos walk a tightrope between two choices -- offering a pay table so good that the best players can expect to make a profit in the long term, or offering lower pay tables and risk driving away the weaker players who are the casino's bread-and-butter customers. In less-competitive markets, where the demand for space to play is great, casinos will offer lower-paying machines because they will be played despite the low payoffs.
Video poker is a very volatile game, about four times as much as blackjack. In any form of gambling, short-term results mostly depend on normal mathematical randomness (what some might call luck). However, in the long run, results mostly depend on skill. If you play a game with a return of 100.76% perfectly, that does not mean that you will have a 0.76% profit every time you play. The 100.76% is an EXPECTED return. Much in the same way, if you flip a coin ten million times, the expected number of tails will be five million, but it is unlikely you will hit five million on the nose. Actual results will vary significantly from expectations, but the more you play, the closer your actual return percentage will get to the expected return.
The strategy charts for all non-wild card games are organized the same way. The hand with the highest average return goes at the top of the strategy chart. For most video poker pay tables that hand is the royal flush. It is followed by lower paying hands and partial hands in order of decreasing return. Keep in mind that partial hands that are not winners themselves will at times be included above hands that are winners because they have an average return (for all possible outcomes) that is higher than a dealt winning hand. For example, in most games four cards of a royal flush is listed above a full house because of the possibility of that hand turning into a royal flush. However, that is not the only hand that can be made from a hand with four cards of a royal flush. There is also the possibility that the hand could become a straight flush, a flush, or a straight with the proper cards being drawn. See the examples below.
Holding cards based on what you feel is correct or holding based on the flow of the cards are both technically strategies. But the video poker game manufacturers set up pay tables based on the math of the game so the casinos will be sure to make a profit from them. Therefore in order for you to make the most of your video poker playing experience, you need to use a strategy that is based on the same math.
In the early 1970s, when video poker was introduced and was still struggling for acceptance, the machines were usually referred to as "poker slots." And video poker has a lot in common with slot machines. They are easy to use, requiring no interaction with a dealer or with other players. Card combinations, like slot reels, are governed by a random-number generator.
Joining the slot club will give you additional rewards for all of your play so it is well worthwhile since you would be playing anyway. Setting a budget is a crucial step as you should only ever gamble with money you can afford to lose. You should also expect that even with the best possible pay tables you will not win on every session you play - that's why it's called gambling.
The minimum hand you need to win is a pair of Jacks. So in this hand we'll hold the Jack, hoping that we'll draw another Jack. We hold the Jack by tapping the picture of the Jack on the screen, or pressing the button for it on the console. Then we'll tap the DRAW button to get four new cards, hoping that one of them is a Jack to match the Jack we held.