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maybe the royal flush was considered the best hand b/c there's no such hand as 5 of a kind. no matter how many wilds you have, the hand rankings don't change, right? i've never seen 5 of a kind listed on one of those things...

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I hope you're joking. If not, this link and this link both show a 5 of a kind as being higher than a Royal Flush when wild cards are used. The other rankings are unchanged.