Help with a Hi-Lo variant...looks like a fun math problem

Anyone hear of Red Dog?
Basic Hi-Lo in terms of game play.

You put an ante.
Two cards are flipped up.
If there is no spread (e.g. 5 and 6 or T and J), the ante pushes.
If there is a pair, the ante pushes unless on the flip card you see 3 of a kind, then it pays 11:1.
For any other scenario, you can then choose to match the ante or leave it.
If the spread on the cards is 4 to 11, the ante and/or bet pays even.
If the spread on the cards is 3, it pays 2:1.
If the spread on the cards is 2, it pays 4:1.
If the spread on the cards is 1, it pays 5:1.

What is the EV on this game and optimum strategy (e.g. at what spread do you stop putting in the bet).
Thanks!

found it on wizardofodds...

let me ask you this now.

what are the odds of losing 25 bets flat betting with optimum strategy in 43 hands?

Thanks

Quote: rtpud

Anyone hear of Red Dog?
Basic Hi-Lo in terms of game play.

You put an ante.
Two cards are flipped up.
If there is no spread (e.g. 5 and 6 or T and J), the ante pushes.
If there is a pair, the ante pushes unless on the flip card you see 3 of a kind, then it pays 11:1.
For any other scenario, you can then choose to match the ante or leave it.
If the spread on the cards is 4 to 11, the ante and/or bet pays even.
If the spread on the cards is 3, it pays 2:1.
If the spread on the cards is 2, it pays 4:1.
If the spread on the cards is 1, it pays 5:1.

What is the EV on this game and optimum strategy (e.g. at what spread do you stop putting in the bet).
Thanks!

This is the old game of Red Dog (aka Dead Dog). Aside from its being one of the stupidest games on the planet, its house edge is pretty high--about 2.7%.

I remember observing a table full of players happily playing this game. Obviously, you should only raise your bet if the spread is 7 cards or more (7 winners and 6 losers out of 13 possible cards). But EVERYBODY was raising their bets when the spread was six cards, and some raised when it was five. I left, shaking my head at the fact that these were my fellow citizens, who VOTED and REPRODUCED.

As above, make an additional bet when the spread is 7+ cards, otherwise don't. Drink heavily. Play until massive boredom sets in.