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.
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.
The pay back calculations on all of the pay tables listed on this site are based on the fact that every hand will be played with the correct strategy to achieve the highest possible return. Holding the right cards on every hand is the only way to do this and while this might seem obvious many players still do not follow any strategy when they play video poker.
To be clear, Bovada's not perfect. Once they got duped by a vendor (Betsoft) who provided progressive slots whose jackpots weren't winnable. When I discovered this I alerted Bovada, and they pulled all the Betsoft games from the site, but I thought they were slow to do so and didn't offer proper restitution to affected players. Still, even with this incident, their overall history is better than most; as just one example, there are many other casinos still offering Betsoft's questionable games.
As you learned in chapter one, this game and others that followed were developed to satisfy the gambling public’s quest for larger jackpots. Jacks or Better has only the royal flush as a true jackpot. In that game any four of a kind pays enough for you to play 25 additional hands so they are not really jackpots, although it really helps out. Bonus Poker on the other hand pays 80 for one for four aces. On a quarter machine this amounts to $100 with five credits played. While this is not a huge jackpot, it is enough to make you feel like you have won something substantial and you may even decide to stop playing at that point with what you consider a nice win for the session. Also, where the royal flush happens only once every 40,000 hands or so, four aces will occur roughly once every 5,100 hands, which is eight times as often. Playing at a rate of 500 hands per hour, the Bonus Poker player will get four aces once every 10 hours of play, on average.
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.
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 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.
Multi-hand video poker games have become popular at online casinos in recent years. This allows you to play up to 100 hands at one from the draw. If, for example, you hold two aces before the draw and play 100 hands, you can play all 100 hands with two aces and three newly drawn cards. This is very beneficial if you are dealt a winning hand before the draw.
The denomination of a video poker game is the amount of money that is counted as one credit. Game denominations can run from as little as one cent up to $100 or more. That is quite a range! Obviously the denomination of the game you play will impact you bankroll requirements. In most cases the impact of the game’s denomination on your bankroll is fairly straight forward. In other cases, not so much. Let’s take a look.
Winning a slot machine jackpot is based solely on luck. You put your money in the machine, hit the spin button and hope that Lady Luck will invite you to dance. There are no decisions to make that will change the outcome of the spin. On the other hand, many table games require skill and the decisions you make can determine whether you win or lose. Most table games when played properly have a lower house edge than the slot machines. Knowledgeable Blackjack players know that learning basic strategy will reduce the house edge to less than one percent.