Last Updated: May 25, 2017

Introduction

Hi-Lo Premium is a simple game based on the draw of a single card from a 12-card deck. There are various bets available, including two on whether the next card will be higher or lower than the previous one.

Rules

1. The following 12 cards are used:
• Hearts: 2, 6, J
• Spades: 3, 7, Q
• Diamonds: 4, 8, K
• Clubs: 5, 9, A

2. The following bets and pays are available. All pays are expressed on a "for one" basis.

• Snap (same card as previous card): 11.7
• Ace of clubs: 11.7
• Any black: 1.95
• Face card: 2.92
• Ace or king: 5.85
• Any red: 1.95
• 2 to 9: 1.46
• Under: Varies
• Over: Varies

3. The pays on the Under and Over are compared to the previous card. The pays depend on what the previous card was, as follows:
• Lower 3/Higher K: 11.69
• Lower 4/Higher Q: 5.84
• Lower 5/Higher J: 3.90
• Lower 6/Higher 9: 2.92
• Lower 7/Higher 8: 2.33
• Lower 8/Higher 7: 1.93
• Lower 9/Higher 6: 1.67
• Lower J/Higher 5: 1.45
• Lower Q/Higher 4: 1.30
• Lower K/Higher 3: 1.17

4. The Lower and Higher bets lose if the same card is drawn as the previous card. The player may not bet lower than 2 or higher an an ace, because there would be chance of winning.
5. After the player makes a bet, the game will pick a card at random among the 12, including the same card as the previous win.
6. Wins seem to be rounded down to the nearest penny.
7. The stake, or bet amount, will default to whatever the player won the previous bet, or zero out if he lost. The player can "save some" or collect all of it he doesn't want to bet that much next time. The player may also use the "stake up" and "stake down" buttons to adjust his wager on the next card.

Analysis

The following table shows the probability of winning and expected return of all bets except Lower and Higher.

Analysis of Bets except Lower and Higher

Bet Pays Probability Return
Snap (same card as previous card) 11.7 0.083333 0.975000
Ace of clubs 11.7 0.083333 0.975000
Any black 1.95 0.500000 0.975000
Face card 2.92 0.333333 0.973333
Ace or king 5.85 0.166667 0.975000
Any red 1.95 0.500000 0.975000
2 to 9 1.46 0.666667 0.973333

Following is the same table for the Lower and Higher bets.

Analysis of Lower and Higher Bets

Bet Pays Probability Return
Lower 3/Higher K 11.7 0.083333 0.975000
Lower 4/Higher Q 5.85 0.166667 0.975000
Lower 5/Higher J 3.9 0.250000 0.975000
Lower 6/Higher 9 2.92 0.333333 0.973333
Lower 7/Higher 8 2.33 0.416667 0.970833
Lower 8/Higher 7 1.95 0.500000 0.975000
Lower 9/Higher 6 1.67 0.583333 0.974167
Lower J/Higher 5 1.46 0.666667 0.973333
Lower Q/Higher 4 1.3 0.750000 0.975000
Lower K/Higher 3 1.17 0.833333 0.975000

Strategy

A return of 97.5% is as good as it gets with this game so I would stick to the bets with that return. Also be carefully to choose your bets and bet amounts so that any win doesn't get rounded down.

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