Casino Holdem Presentation

Introduction

Casino Hold'em (also known as Caribbean Hold'em) is a variation of the game Texas Hold'em in which you play against a casino dealer. The game's low expected loss per unit wagered makes it a useful alternative for clearing bonuses. Note that Casino Hold'em and Texas Hold'em Bonus are not the same game.

Rules and Play

After placing an Ante bet, the player's two cards are dealt, as well as three of the five community cards (the Flop). The player then must choose to either fold and forfeit the hand (losing ante bet), or raise and play the hand. The raise bet must be 2x the size of the Ante bet. If the player raises, then there are several possible payouts. If the dealer has a pair of 4s or better, the dealer "qualifies." Payouts depend on whether the dealer qualifies, as listed below.

Dealer Does Not Qualify -- Ante bet pays according to table below, raise bet pushes

Player Wins, Dealer Qualifies -- Ante bet pays according to table below, raise bet pays 1:1

Player and Dealer Tie, Dealer Qualifies -- All bets push

Player Loses, Dealer Qualifies -- All bets lose

Hand	Final Hand Odds	Ante Bet Payout
Royal Flush	1 in 30,000	100:1
Straight Flush	1 in 3500	20:1
4 of a Kind	1 in 600	10:1
Full House	1 in 40	3:1
Flush	1 in 35	2:1
Straight or Less	16 out of 17	1:1
House Edge (in terms of Initial Bet)		2.16%
House Edge per Unit Wagered		0.82%

  

Optional Bonus Bet

Casino Hold'em offers an optional bonus bet. The bonus bet pays based on a 5-card hand composed of the player's 2 cards and three flop cards. The remaining two community cards are not included. Like most side bets, the house edge of the bonus bet is significantly larger than the house edge of the main game.

Strategy

The player should raise on fold on the worst 18% of hands, which have an EV of below -1 (the EV of folding the hand), and play the remaining 82% of hands. To minimize expected loss per unit wagered (minimum loss over a wagering requirement), the player should fold on hands which have an EV of below -1.016. A simplified strategy is below. This strategy has a house edge per wager that is ~0.0025% above optimal. Once you get a feel for the game, you will recognize more hands that are obvious raises and folds beyond the cases below.

Raise...
With a pair or better (using at least 1 player card)
With 4 to a flush
With 4 to an outside straight (a straight with an outside card missing, such as 4567)
With player cards of A/4 to A/A
With player cards of K/7 to K/K

If the above conditions aren't met, fold...
With player cards of 2/3 to 2/7 (without 4 to a straight)
With player cards of 3/4 to 3/7 (without 4 to a straight)

House Edge

With standard rules, the house edge (defined per initial bet) of Casino Hold'em is 2.16%. The average bet size is 2.64x the initial Ante bet, making the house edge per unit wagered 0.82%. The latter value of 0.82% is more appropriate for estimating expected loss while completing a wagering requirement.  

Variance and Bet Size

The standard deviation per initial bet of Casino Hold'em is 2.61. The average bet size is 2.64x the initial Ante bet, making the standard deviation per unit wagered 1.61. The latter value of 1.61 is more appropriate for estimating range of return while completing a wagering requirement.

I recommend an Ante bet size that is smaller than you would use for blackjack since the average final bet size is much larger than the initial Ante bet..