Poker At Online Casinos Is Not Always Open To The Public – The current coronavirus crisis reminds me of an important concept. This is one I have written and talked about for almost 50 years.
It starts with a story. I have a friend, Howie B, who was the best stud player in several games on the up east side of New York during the 1970s. He had played with Stu Unger and Eric Drache when they were still on the East Coast. We call him Howie the Horse because of his size and habit of going to the Aqueduct or Belmont race track every day.
He usually loses whatever he won the night before. In fact, he occasionally lost more than he had won the night before, and went back into debt. For the time being, it doesn’t matter. Every day he loses on the track, but every night he wins at poker games.
But as time goes by, the game gets more and more difficult. Some truly horrendous players go broke or get tired of losing and quitting. Their place was taken by people who played well enough. Some of the other weak players got better.
Finally, the inevitable happened. The Horse continues a losing streak at poker. And things on the track didn’t get any better. He got a job at the bar in the afternoon at one of the local joints. This serves the dual purpose of providing some cash and keeping it out of the way.
One afternoon, I stopped for a beer. I gave him a lecture on money management and playing only when you have the best. (To this day, I continue to give similar lectures to talented gamers bonus138 who periodically go bankrupt.)
He said, “When I used to win every night, I thought the game was candy shop. Now I realize, candy shops are not always open. ”
I laughed, drank another beer and left. On the way home, I realized that he had made very insightful comments about gambling, or maybe even life in general. It’s important to realize that candy shops are not always open!
There’s little doubt, in my opinion, that over time the game went from relatively tame to much more juiced up. Let It Ride may seem daunting because you have to make three bets. So, for a $5 game, you place a $15 bet. But you rarely leave those two bets out there. And when you do, it’s often for a definite winner. At a $5 table, the average total bet is actually just over $6.
The next step in evolution is to create games that have higher volatility. You bet more, but you can win more.
Enter Mississippi Stud Poker or Let It Ride on Speed as I like to call it. Where Let It Ride was an immediate success story, Mississippi Stud Poker has a history unlike any other casino game. The game was originally conceptualized around 2005, I believe. It was the brainchild of Mark Yoseloff, who was CEO of Shuffle Master at the time.
When your company’s CEO has a game idea, it moves forward whether people like it or not. Like Let It Ride, it is a payout game – perhaps the only payout game that works. It plays a lot like Let It Ride with one major difference. Instead of having the option of making additional bets, these bets are now mandatory. You can make it or fold it.
Mississippi stud only had a table or two in the entire country for nearly five years before the games got underway. Most games with only a few tables will die long before five years.
To start playing, players make a single bet and are dealt two cards, while three community cards are dealt face down. To win (or at least not lose), players must finish with a 6 or better. Pairs of 6’s – 10’s push, returns all bets. A pair of Jacks or better starts paying the actual hand.
All bets pay per pay table. After reviewing his two cards, the player has three options – fold, play 1x or play 3x the stake. The dealer will hand over the first community card. Again, the player can fold, play 1x or play 3x the stake. The dealer will now turn over the second community card and again the player can fold, play 1x or play 3x. Finally, the last community card is revealed and the dealer pays out the winnings.
If a player is dealt a pair of 6 or better on his first two cards, he will have 10 times his original bet there in total – but he is a guaranteed winner (or no loser). Pull Trips, which paid 3-1 and a $5 player just won $150. Managed to get Quads and you’re talking about winning $2,000.
Of course, some hands become like this. Many Trips and Quads do not start with a pair on the first two cards. Obviously, Straight and Flushes never did.
Playing the right strategy requires the player to fold more than 31 percent of the time after seeing his first two cards. This is one reason its potential success is in doubt.
The player not only folds often, but also folds early, leaving plenty of time for him to stare out into space. Players will fold eight percent of the time after the first community card and nearly five percent after the second, for a total fold rate of nearly 45 percent.