Re: can anyone determine if this game would be beatable?
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Is it possible to do better than break even at this game in the long run?
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Short answer - sure. Short answer - depends on your opponents. If everyone plays optimally, no. For your strategy question, download pokerstove and play with hand ranges and their equity against random hands to get an idea of what might be best in multi-way pots. The number of opponents is probably something to factor in as well.
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