The game of Let It Ride is actually based on five card stud poker. You don't play against other players nor do you play against the house. In this game you are only playing against your luck.

Each player places three bets of equal size in front of themselves on the table. In most casinos the minimum requirement is for each bet to be at least $5. There are some however, that offer lower limits. If you bet an additional $1 there are some casinos that offer a bonus payout. This bonus is explained in more detail later.

Three cards are dealt face down to each player as well as the dealer. One card is immediately discarded by the dealer from his cards. He does not look at the card before he discards it so he has no way of knowing which card is removed. After all of the cards are dealt, the players pick up their cards. After the player looks at his three initial cards he/she is permitted to ask for his bet back or he/she can "Let It Ride". If you decide that you do not have a winning hand you can ask for your money back by dragging your cards on the table just as you would if you were asking for a hit in Blackjack. At this point the dealer while return to you one of your three bets. The money that is returned to you is now no longer a part of the bet you are making. If you end up with a losing hand you will not lose the money that was returned to you. On the other hand, if you end up winning, you don't win on the bet you took back. In the event that you think that your hand will win, you slide your cards under your bet. The bet left will remain for the rest of the hand.

After all players are given the chance to take back a part of their bet or to "Let It Ride", the dealer takes one his two cards and flips it over. The players at the table now will use the card that the dealer has flipped up along with their original three down cards to form their best hand. At this point the process is repeated and you can again "Let It Ride" or take back part of your bet, you would “Let It Ride”.

If you think you are going to end up with a winning hand. If you think that you are not going to win you would take it back. Either decision does not affect the decision made on the initial bet. That is to say, if you let your first bet ride thinking that you had a winning hand, but now you don't think your hand is going to win, you are allowed to retract your second bet but the first one must stay on the table.

Having made a decision regarding this second bet, having decided to either “Let It Ride” or pull it back, you tuck your cards under the remaining bet(s). If you have decided to take back the second bet, you must make sure that the dealer returns it to you before tucking your cards under the remaining bet or he might think you intend to “Let It Ride”. If he decides this he will not return your money to you. if you decide to tuck your cards under your bet this time, you can no longer touch them for the rest of the game.

Then the dealer turns over his second card. At this point all of the players are allowed to use both of the dealer’s up cards to make their best hand. This is in addition to their three down cards. To be a winner you need a pair of tens or better. If you win you are paid according to the bets you would have left on the table. If all three bets were allowed to ride then you would be paid on all 3 bets. If the first one was taken back but the second and third were allowed to ride, you would be paid on those two. This is because you pulled back the first bet. If on the other hand, both the first and second bets had been pulled back, and then you discovered in had a winning hand, you would only be paid on the last remaining bet. If you do not have a winning hand, the dealer will take all of the remaining bets that are on the table. At the beginning you will have made three bets. You have two chances to pull back bets. That means you will always have at least one bet left on the table.

The following shows the payout for Let It Ride. You should always check out the payout table of the casino that you are playing out and make sure that you understand it. You can usually find the payout table printed on the table in front of each player.

- If you have a winning hand of 10’s or better, the payout is 1 to 1.
- If you have a winning hand of two pair, the payout is 2 to 1.
- If you have a winning hand of three of a kind, the payout is 3 to 1.
- If you have a winning hand of a straight, the payout is 5 to 1.
- If you have a winning hand of a flush, the payout is 8 to 1.
- If you have a winning hand of a full house, the payout is 11 to 1.
- If you have a winning hand of four of a kind, the payout is 50 to 1.
- If you have a winning hand of a straight flush, the payout is 200 to 1.
- If you have a winning hand of a royal flush, the payout is 1,000 to 1.

As said earlier, there are some casinos that allow players to bet an extra $1 to participate in a bonus payout. There will be a red circle located just above the place where the player places his/her 3 bets if the bonus payout is offered by the casino. If, when you are placing your three bets you place $1 in the circle, you are allowed to play for the bonus payout along with the regular payout for the original three bets. Although the bonus payout may differ from casino to casino, listed below are typical bonus payouts. If the casino at which you are playing offers a bonus payout, the payout schedule is printed on the table next to the regular payout schedule. If you are holding a hand which is listed in the bonus payout listed below, you will receive payment for the one to three standard bets according to the regular payout schedule and then receive the bonus payout as listed below. If you have not added the $1 bet, you will only be paid according to the one to three standard bets in accordance with the standard payout table. The $1 bet cannot be pulled back and must remain in play during the entire game.

Bonus payout (varies from one casino to another): - If your hand has a pair of tens or better, the bonus payout is $0
- If your hand has two pairs, the bonus payout is $6 or $0
- If your hand has three of a kind, the bonus payout is $9 or $5
- If your hand has a straight, the bonus payout is $25
- If your hand has a flush, the bonus payout is $50
- If your hand has a full house, the bonus payout is $200 or $75
- If your hand has four of a kind, the bonus payout is $400 or $100
- If your hand has a straight flush, the bonus payout is $2,500 or $1,000
- If your hand has a royal flush, the bonus payout is $25,000 or $20,000

Finally, the following are the odds that a player will achieve a particular hand in the game of Let It Ride: - The probability of there being no winner, that everyone receives less than a pair of tens is 10 hands out of 13.

- The probability of receiving 10’s or better is 1 hand out of 6.
- The probability of receiving two pair is 1 hand out of 21.
- The probability of receiving three of a kind is 1 hand out of 47.
- The probability of receiving a straight is 1 hand out of 255.
- The probability of receiving a flush is 1 hand out of 508.
- The probability of receiving full house is 1 hand out of 694.
- The probability of receiving four of a kind is 1 hand out of 4,165.
- The probability of receiving a straight flush is 1 hand out of 72,193.
- The probability of receiving a royal flush is 1 hand out of 649,740.