Let it Ride Basic Strategy

Following the basic strategy, a person would raise in round one on average by 0.07276018 of a betting unit. The expected return on the raise is 0.119145. Then, continuing after the fourth card has been revealed, it can be seen that the average value of the raises made in the second round are about twice as much at 0.15932 betting units with a profit expectation of 0.29866 betting units. The player is still ahead. The denouement comes in round three, when the mandatory bet comes into play. The “average” bet is, of course, 1.0 betting units. The “profit” from round three is negative. Adding the profit for three rounds together and dividing by the price of a bet (which is “one” in all these examples), we arrive at the global average edge for the game. It is -0.035057, meaning that it is in favor of the casino.
By altering the payout tables the casino can adjust this edge, since the total profit calculations in each table will change. By using a different strategy to withhold bets or to “Let it Ride,” a player can adjust the edge as well, but probably not any further in the right direction.

Side Bets

A few casinos will offer a one dollar side bet for increasing the payoffs for certain hands. If you do the math, it will become evident that the side bet has a very negative expectation of anywhere from 10% or so in favor of the house, to over 30% negative. It is a sucker bet.

For people who simply enjoy being in the casino, taking advantage of comps, and playing a table game that does not require a lot of concentration or practice, “Let it Ride” may be the table game of choice. An additional advantage is that this game can be played so as win from time to time and not run through the bankroll in a hurry.