Outs and Odds

Types of Poker Games

Let's have a look at various styles of poker games:

Caribbean Stud:

Caribbean stud is a rather dumb game, with a house edge of 5.27%, just a hair worse than double-zero roulette. Sitting around a table with a layout similar to blackjack, players put out an individual ante, or bet, and receive 5 cards face down. The dealer also gets five cards, though one is dealt face up. At this point, players either "fold" and lose their ante, or "call" by adding a bet that is twice their ante. Everyone then reveals his or her cards. In case the dealer doesn't "qualify" with a king and an ace, at least, in his or her hand, all players win even money for bets made, and the dealer returns call bets made to the players. Should the dealer's hand qualify, each player's hole cards is matched against the dealer's. If the player wins, the ante is paid at even money and the call bet qualifies for a "bonus" payout, based on the hand. Bonus payouts range from equal money for a single pair, up to a one hundred-to-one for a royal flush (most of these payouts are even lower than those found in "Let it Ride").

The maximum bonus payout usually capped somewhere between $5,000 and $60,000, so make sure your bet is no higher than it needs to be to win that amount. For example, if the bonus payout is capped at $5,000, your ante should never be above $25 (this would make your call bet $50 and thus your 100 to 1 payout would hit the $5,000 ceiling exactly). The simple way to do the math is to divide the maximum bonus payout by 200. Your ante should never exceed that amount.

For a side bet of another dollar per hand, Caribbean stud poker also offers players the chance to hit a progressive jackpot, with payoffs based on the quality of their hand. A royal flush wins 100% of the jackpot, while a flush gets a mere $50. The fact that jackpots have been known to go up $5 million tells you something about how often a royal flush occurs.

Let It Ride Poker:

Let It Ride Poker offers the unusual feature of allowing players to take back two thirds of the wager. Players bet three equal amounts and are dealt 3 cards, face down. Two common cards are then dealt, also face down. At this point, players can pull back one of their bets (don't touch your chips, that is the dealer's job). When the first common card is turned over, players can withdraw their second bet. The final common card is then shown and payouts made according to a fixed schedule; it ranges from equal bet for a pair of tens, or to thousand-to-one on a royal flush. As you might guess, the payouts are way below true odds. For instance, the odds against drawing a flush are 508 to one, but the payout is eight to one. Overall, the house holds about a four percent edge, if players make all the right decisions.

The biggest lure of Let It Ride is that players compete against the cards, not each other, making it more appealing to amateurs. Also, there is that ability to withdraw two thirds of the bet, which gives the illusion your money is lasting longer than in other games. But don't be fooled. The house edge grinds down almost everyone eventually, and since this game is basically five-card stud, it is often a long time between winning hands.

Pai Gow Poker:

Pai Gow Poker, not to be confused with pai gow (a Chinese game that utilizes tiles), is played with a 53-card deck, a standard deck plus a wild joker. Players get seven cards, which they assemble into a five-card hand and a two-card hand. The five-card hand must score higher than the two-card hand. The object is to beat both the banker's hands. The banker wins all hands that tie. If a player wins only one hand, it is a push. The house, or any player, can be the banker. Winning hands are paid at even money, minus a five percent commission. If it sounds intimidating, don't worry. The dealer will help you arrange your cards in such a way as to maximize your two hands. It only takes observing several hands to get the hang of it.