For the game Casino Holdem, I am told to compute the expected value of the call option for the following hole cards and flop.
(8♠,9♣) and (10♣,J♣,2♠)
Can anyone help me on this problem.
The rule of the game: · Both you and the dealer will be given two cards (the dealer’s are face down), and three community cards will be dealt to the flop. · You can now choose to Call and continue playing against the dealer, or Fold and lose your bets. If you call, you will have to place double your original Ante bet. · The last two cards are dealt to the flop. The dealer turns his cards face up · If your hand is better than the dealer’s, you win and your Ante and Call bets are returned to you along with your winnings. If not, you lose your bets.
Hand ranking: The dealer has to have at least a pair of 4s to qualify – if not, your Call bet is returned and the Ante bet pays according to the paytable. · If the dealer qualifies and the dealer's hand is better than your hand, you lose your Ante and Call bets. · If the dealer qualifies and your hand is better than the dealer's hand, your Ante bet pays according to the pay table and your Call bet pays 1 to 1.
Paytables:
When you win, your bet is returned to you along with your payout. Winning hands pay according to the following tables:
Ante Bet
Hand $\: $ $\: $ $\: $ $\: $ $\: $ Payout
Royal Flush $\; $ $\; $ $\; $ 100 to 1
Straight Flush $\; $ $\; $ 20 to 1
4 of a Kind $\; $ $\; $ 10 to 1
Full House $\; $ $\; $ 3 to 1
Flush $\; $ $\; $ $\; $ $\; $ 2 to 1
Straight or lower $\; $ $\; $ 1 to 1