How Does a Multi-Bet Format Affect the House Edge in Mississippi Stud?

 How Does a Multi-Bet Format Affect the House Edge in Mississippi Stud?

Many poker-based table games involve an ante before you see your cards, and then a bet or multiple bets to keep playing. Caribbean Stud was the trend-setter, but we also see that format in Three Card Poker, Mississippi Stud and other games.

The multi-bet format complicates matters when we evaluate the house edge, and sometimes different figures are used.

Not long ago, an email arrived asking for clarification on Mississippi Stud.

“I’ve read 5 percent [as the house edge], and I’ve read 1 percent,” the reader wrote.” I like to play, but might have to back off if I’ve just been getting lucky on a 5-percent game.

I usually list the house edge on Mississippi Stud as 4.91 percent of the ante, or 1.37 percent of total action. That’s because Mississippi Stud involves an ante, plus three potential bets that can be one to three times the ante. If you start with a $5 ante, it’s possible to have $50 on the table by the end of the hand.

If you play an optimal strategy for Mississippi Stud, you won’t bet more than the ante on every hand, but on average, your total wagers will be 3.59 times your starting amount. Divide a house edge of 4.91 percent of the ante by 3.59 units of wagers, and you get a 1.37 percent house edge against total action.

 If you start with a $5 ante, then your total action will average $17.95.

On the average, you’ll lose 4.91 percent of your ante, or 24.6 cents per $5 anted. With average total wagers of $17.95, your average loss still will be 24.6 cents, but only 1.37 percent of your total action.

 If you want to know how large average losses will be give a specific  ante, then the 4.91 percent figure tells you that. But if you’re comparing you shot to win to that on place bets on 6 in craps with a 1.52 percent house edge, then $17.95 in total action in Mississippi Stud will yield a similar shot to win as an $18 place 6.

Both Mississippi Stud house edges are useful. They just have different uses.

Leave a comment