You learned in chapter 3.5 that progressive video poker has one (the royal flush) or more (other high paying hands such as a four of a kind) jackpots that increase as the game is played. You also learned that as the progressive jackpot increases, the strategy to play video poker changes so that more of the close decisions are decided in favor of saving for the higher paying and less frequent jackpot hand rather than some more frequent but lower paying hands.
Elsewhere on this site I show you how to figure your average loss for an hour of play. In summary, you multiply the house edge by the bet size by the number of rounds per hour. On a 9/6 quarter Jacks or Better machine with proper strategy, that would be 0.5% x $1.25 (remember we're playing 5 coins at a time) x 400 hands per hour = $2.50 per hour. Not bad. Except that the formula doesn't work for video poker in the short term. That's because you'll hit the royal only once every 66 hours on average, and while you're waiting for the royal, the return on the game isn't ~99.5%, it's ~97.5%. So you're more likely to lose 2.5% in the short term rather than 0.5%. So we can expect our hourly loss to be closer to $6.25/hour than $1.25/hour while we're waiting for the royal. Still, $6.25/hour is pretty cheap. On a slot machine your loss would be closer to $40 an hour. So you can see why I'm so eager to switch you from slots to VP.
The way video poker strategies are usually expressed is a list of hands you might get on the deal, in order from best to worst. For any given hand, look up all viable ways to play it on the list and go with the one that is listed first. If you don't see a play listed, like suited 10/A, then never play it. Here is such a strategy for Jacks or Better.
Less interesting and less impressive was the page about “Video Poker’s Greatest Hits”. (http://www.videopoker.com/greatest_hits/) One of the aspects I found disappointing about this sales page was the lack of a price listing. There’s a button for a free trial, and another “buy now” button, but I don’t think I should have to click “buy now” to get a price. I did click through, and the price is only $19.95, but the software is limited to 8 video poker games.
In order to pay for the increased pays for four of a kind hands, other pays have to be lowered. In Bonus Poker pays for the full house and flush are reduced to eight for one and five for one from nine for one and six for one respectively on the full pay Jacks or Better game. This makes the return from the “full pay” version of this game 99.17 percent. This is certainly not as good as a full pay Jacks or Better, but it is still not bad.
It is not enough to just know the payback of a video poker machine. In order to achieve the maximum return, you must play the game using a set mathematical strategy. It is very important that you learn the strategy for each game and play them correctly. Making a few mistakes in strategy when playing can increase the house edge against you. Each video poker game has its own strategy. For example, you can not use the strategy for Jacks or Better when playing Deuces Wild.
You will also learn the layout and importance of the pay table, as well as how to properly bet while playing video poker. You will learn and understand payback, return, house (and player) edge. You will learn about the implications of variance, sometimes called volatility. You will also learn what the term random really means when playing video poker.