Discount Gambling

I saw a new Hold’Em type game at Casino Pauma last week, and I thought I’d work out the numbers and give it a try. The game is pretty simple. You bet an Ante before the hand begins. After seeing your two hole cards, you may bet 2x preflop, or check. After the flop, you may 1x bet or check. The turn, river, and the dealer’s hole cards are then revealed. The dealer qualifies with a pair of 6’s or better. If the dealer doesn’t qualify, all post-Ante wagers push. If the dealer beats your hand, you lose all your remaining bets. If you beat a qualified dealer hand, you win all your bets. If you beat a non-qualified dealer, you only win 1/2 your Ante.

The game is a bit calmer than Ultimate Texas Hold’Em, since you only have a single Ante, and you can check it down to showdown (in fact, this happens 69.8% of the time). Plus, players may like the fact that they can make the 2x and 1x bets only when they have an advantage. (I.e., all properly made 2x and 1x bets are +EV.) And the Ante is only a -11.4% loser, on average. The optimal player makes a 2x preflop bet 11.2% of the time, and a 1x flop bet on 25.5% of the time. The dealer qualifies 69.1% of the time. The game has relatively low variance, and I found myself increasing the Ante from the $5 minimum, to $10, and $15. (I’d never do that with UTH.)

The total outcomes for the optimal player strategy are listed in the table below, and show a house edge of 3.2% of the Ante.

I worked out the basic strategy for the game, just in case anyone wants to play the game. The strategy is actually pretty simple. Since the dealer qualifies with a pair of 6’s or better, you generally only bet the flop if there’s a qualified hand to beat. You can bet kickers and draws against a qualified flop, otherwise you should only bet a qualifying pair when there’s a board card lower than your pair, but 6 or higher.

The basic strategy below has an error rate of 4.5%, that only results in a cost of 0.23% to the player. So the practical house edge is 3.5% for the game.

There’s not much opportunity for collusion in the game. Knowledge of the hole cards of all 6 players will modify some of the preflop 2x decisions, but the frequency and value of these counter-(basic)strategy decisions aren’t enough to overcome the 3.2% house edge. Trust me, I’d have worked it out if it was worthwhile.

There’s two bonus bets offered, where the Pocket Bonus pays when your hole cards make a pocket pair, and the Final Hand bonus on your final 7-card hand. The paytables offered at Casino Pauma aren’t very good.