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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.
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.
Video poker started to appear in 1989 when the Card Bell was developed. This game was a poker machine that paid players instantly by using combinations such as a straight, a flush and so on. In the improved design of the machine, the Skill Draw, a major feature was added — the Hold. The Hold feature has become an integral part of the video poker game of today.
If you enjoy playing strategic games—whether that’s games like blackjack, poker or chess—then you’ll find that video poker games are right up your alley. Not only that, but most machines offer some of the best odds to players who are willing to learn the best video poker strategy on each machine. Even at online gaming sites, many games offer potential returns of well over 99%. This makes them some of the best games around for players who want to have an excellent chance of coming out on top against the casino.
The don'ts are mainly related to making sure you do not end up losing more than you can afford when playing. If you have lost your daily budget it is important to call it quits for the day. Chasing your losses is a bad idea as it can lead to even more losses. You should also avoid drinking too many alcoholic beverages as this can lead to making strategy mistakes and bad decisions.
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.
Oh boy, we have two high cards! We'll hold both of them, because then we can make a pair by drawing either a Jack or a Queen. True, we're only gonna get three more cards for a potential match rather than four this way, but our odds are still better for making our pair. We might also get a full house if we're lucky. This was play #13 in our list above.
An inside straight is a would-be straight with a hole in the middle. 9? 2? 10? 8? 6? is an inside straight because only a 7 will turn it into a straight. The distinction between outside straights and inside straights is important because in Jacks or Better we will never try to turn an inside straight into a straight. It's too hard, since we have only one chance of completing the straight.
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.