Video Poker Question

[TXTiger]

I've been interested in video poker for a while, and visited the sites recommended in an earlier video poker thread. IE the Bob dancer site and the yahoo site. On the yahoo site they have a cool feature where players give listings of the best vp machines in certain casinos. I'll be living in TX soon so I checked out the Louisiana casinos. The best listing I found was:
PKM (99.9%)
(8) 25c Game Makers
with 0.25% cash back.

So supposedly there is money in video poker (not trying to dispute this) but if this is the best machine around in LA it seems like vp is a waste of time there. Can someone more experienced give me their thoughts on this.

I read PKM is actually 99.95 so the 0.25 would give you a return of 0.2%. I assume the (8) 25c means you can play 8 quarters. So if I assume 500 hands per hour at $2 per hand thats $2 an hour profit. Yeehaw.

I'm guessing I need to be playing like 5 coins on a $5 machine to make decent money. then move up to $25 as I can. I guess the best course of action would be to grab a pen and pad and do some scouting. Anyone know if this would be a waste of time or if there is actually money to be made in LA on vp?

[playersare]

looks like Isle of Capri Lake Charles you got there.

the (8) means there are 8 Pick Em machines at that casino, the max number of quarters per hand is 5. so 500 hands per hour is coin-in of $625 and theoretical payback of $624.6875 (based on 99.95%) and cashback of $1.5625.

however, statistical variance means you will have to play a LOT of hands (like a million!) for those numbers to pan out in the long run. if you take out the most unlikely hands like the Royal Flush (350000:1 odds) and Straight Flush (38000:1), then the payback is reduced to 98.99%. And then many times you'll have a dry session which doesn't even include Four of a Kind (2300:1) and now you're only getting 93.91%.

Even with cash back it is extremely hard to earn a net profit at VP in the long run, and even if you do it's really not much compared to what you can make in online poker and casino bonuses nowadays. VP in real world casinos is primarily a good way to earn comps like free rooms, food and show tickets, and get invited back in the future via offers in your mailbox. At least it's a little cheaper and more mind stimulating than regular slot machines.

[Cheeseweasel]

In the past I've made hundreds of thousands of dollars playing video poker. It is possible through a combination of EV+ paytables, cash back, and promotions. It takes knowledge, discipline, and plenty of bankroll.

You mentioned playing 5-coin $5 machines. Depending on the theoretical payback and variance, you would need a bankroll of approximately $100,000 to play to a 2% element-of-ruin. The 300-500 units of bet required for poker you can lose in a few hours playing video poker. The first time that I played 3-coin $100 video poker, I lost $54,000 in less than 30 minutes.

A good way to make money playing video poker is to have a team of grinders working for you going after EV+ progressives. It works best if you can lock up the entire bank 24 hours a day until it is hit. You pay your grinders an hourly rate plus a percentage of the progressive if they hit it.

[radek2166]

On the yahoo site they have a cool feature where players give listings of the best vp machines in certain casinos

linK

Please

[TXTiger]

http://groups.yahoo.com/group/vpFREE/

Go to the casino database index. You may need a yahoo account.