Rules of Red Dog

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From the rec.gambling Frequently-Asked-Questions (by Steve Jacobs):
"Red Dog" is also known as "Acey-Deucey" or "between the sheets". It is a card game that is usually dealt from a shoe containing four or five decks, although single deck games can be found occasionally, as can games with 6 or 8 decks.

After the players bet, two cards are dealt face up on the table. If the two cards are adjacent, it is a tie. If the two cards are not identical, the player is allowed to place a "raise" bet, up to the size of the original bet. If the third card drawn is _between_ the first two cards, the player wins. If the first two cards are identical the player is not allowed to raise, and if the third card matches the first two, the player is paid 11:1. Payoffs are at even money unless the first two cards are a pair or the "spread" is 3 or less.

Spread Payoff
pair 11:1 (w/ matching 3rd card)
pair push (w/ non-matching 3rd card)
0 (adjacent) push
1 5:1
2 4:1
3 2:1
4 - 11 1:1

The number of players at the table is totally irrelevant, since all players win or lose simultaneously. The only strategy decision that the player is allowed to make is whether or not to double the bet. With these payoffs, the bet should be doubled only when the spread is 7 or greater.

The house edge for Red Dog is about 3%, and decreases slightly as more decks are used.

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