The strategy below is the Wizard's simplified strategy for Jacks or Better. You give up just a tiny part of the return (99.46% instead of 99.54%) and in exchange you get a strategy that's much, much easier to learn and remember than the perfect strategy. The 0.08% penalty costs you only $0.60 per hour of play on average, assuming a quarter machine played at 600 hands per hour.
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.
Part of your research should include learning the payout tables, but there’s also another table that should prove pivotal to your success in playing the game. There are a number of charts available which show you clearly when you should drop cards and when you should keep them. For instance, when you have a Royal Flush you should naturally keep all of your cards, whichever type of video poker game you’re playing. For 3-if-a-kind you should keep three and drop two, and if you’re two cards from a Royal Flush you should keep two and drop three.
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.
Two major factors determine the characteristics of a video poker game. They are the payback, which can also be stated as return or calculated from the house edge, and the variance or volatility. We examined how payback (or return) and house edge are inter-related in the last section. In this section we will look at the other half of what defines a video poker game – variance or volatility.
The process of listing hands with an ever lower average return continues until the average return for the hand is less than the average return for a totally new hand. The word “Redraw” or words to that effect are placed at this point in the strategy chart. This means you will get a higher return by totally replacing your hand than by trying to make something of it. The strategy chart is now complete.