Let It Ride

I was wondering how the House edge improves when the game is set with really low payouts such as: 30-1 Royal Flush, 20-1 Straight Flush, 15-1 Four of a kind, 10-1 Full House, 7-1 Flush, 5-1 Straight, 3-1 Three of a kind, 2-1 Two Pair, and 1-1 on Tens or better. This adjustment is seen in carnival type environments. I am tempted to play "for fun" but it would seem you are giving up a huge edge to the house.

Can you advise a simple way to calculate.

Thanks.

Luckily the Wizard has already done the hard part of the calculations! All we need to do is prorate the returns for each hand for your payouts. Now, of course, this would be assuming that your paytable's optimal strategy is the same as the ones listed on his website, which is not the case, but its close enough.

Prorating of the Wiz's tables gives a house edge of about 7.5%.

Honestly, I don't know why you would want to play this game! Even if we ignore the fact that Let It Ride is boring (whatever, I guess that's a matter of opinion), and the incredible 7.5% house edge, getting paid 30-to-1 on a royal flush would make me sick!

I generally stay away from those games in most cases. I think the people that play the carnival game (church festival, fundraising event, etc.) usually do not pay attention to the details, that being the correlation between the odds and the payout.

Thanks for the info.

Quote: cardshark

Honestly, I don't know why you would want to play this game!

Because sometimes there's a hot woman playing it, and that gives you a chance to strike up a conversation. Why else?