But that is where the similarity with random slot machine play ends. The video poker player has total control over the initial five cards that have been dealt. It is his or her choice what to do with those five cards. The decisions about whether to keep all of them, discard all of them, or anything in between is totally theirs. It is actually totally yours. After all, you are the one reading and learning from this guide.
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In the early 1980s, Si Redd and his new International Gaming Technology entered into a licensing agreement with Bally's Manufacturing that gave IGT exclusive rights to manufacture video poker machines. Few people recognized the potential at the time, but that gave IGT the boost it needed to become Bally's main competitor in producing electronic gaming devices. Today IGT and Bally's both produce video poker machines, and their machines take up most of the floor space devoted to electronic gaming devices across the country.
If you choose the machine on the right, you'll lose your money six times faster! And your chances of winning will be far less. If the reason isn't obvious then consider this: If the player is getting back 99.54% and 97.29%, that means the casino is keeping 0.46% and 2.71%. The casino profit on the second machine is 2.71 ÷ 0.46 = 5.9 times higher.
5. Chart your course – An easy way to get better at video poker is to simply print out a Basic Strategy chart. As a game of skill, this gives you a much better chance at winning. There are numerous online charts that can be printed and fit in your wallet. If you’re playing online, leave a window or tab open for your strategy guide to make sure you’re making the right moves.
So far we have looked at low variance and moderate variance video poker games. Low variance games have the advantage of a smaller bankroll size requirement and relatively simple video poker strategy. This comes at the cost of playing a somewhat boring game. Moderate variance video poker games are more exciting to play because they have more high paying winning hands. The excitement factor is offset, however, by higher bankroll requirements and somewhat more complex playing strategy.
We think video poker games are far superior to slot machines for various reasons. The most important of these reasons is the better odds that are offered. The best slot machine in a casino probably only has a 94% or a 95% payback percentage. Most video poker games start with that kind of payback percentage, and a huge percentage of these games offer better payouts than that.
Obviously, the more you bet, the more you will win for any given hand. With one exception, the win for any given hand and bet is proportional to the amount bet. However, notice that for a royal flush the win is 1000 for a bet of four coins and 4000 for a bet of 5 coins. The disproportionately high payoff of 800 per coin bet for a royal flush, with a five coins bet, is what economists would call an economy of scale. You will see this in almost every video poker game. If you don't bet the maximum number of coins, the cost of being short-changed on a royal amounts to about 2% of money bet, which is a lot. The wise video poker player will always bet max coins per hand.
There are three viable ways to play this hand: keep the low pair, keep the three to the royal, or keep the four to the flush. Some beginners might also suggest keeping the low pair with the ace kicker. In real draw poker, you sometimes should keep a kicker, but NEVER in video poker. In this case, we can see the low pair is listed 9th, the three to the royal is listed 7th, and 4 to a flush comes in at 8th. The three to the royal is listed highest of the three, making it the best play.
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.
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.
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.