A basic strategy for Let it Ride has been developed by Lenny Frome (Expert Strategy for Let It Ride) and Stanley Ko (Mastering the Game of Let It Ride). These website also contain a detailed mathematical analysis of the game, and are highly recommended.

To get you started, here is a simple basic playing strategy:

Let the first bet ride if your three card hand contains: Three of a kind
A pair of tens, jacks, Queens, Kings, or Aces
Any three cards to a royal or straight flush

Let the second bet ride if your four card hand contains: A payoff (tens or better)
A four-card flush
An outside four-card straight
A four-card straight and royal flush

The casino's edge in Let it Ride with the player using this basic strategy is about 2.8 percent per dollar wagered. This makes it better than Caribbean Stud poker and most craps and roulette bets, but not as good as baccarat, blackjack with basic strategy, or the better craps bets.

Every three months or so, Shuffle Master Inc. holds a Let it Ride tournament in different gaming areas in the United States. In past tournaments the grand prize winner was awarded from $500,000 up to $3,000,000, depending upon the number of eligible participants. To be eligible for the tournament you must bet another $1 chip in the red betting circle in front of you (in addition to your normal bets) and end up with one of the highest ranked poker hands during the qualifying period. In past tournaments one hundred players with royal and sometimes straight flushes were invited to participate in the tournament. Keep in mind that there are many casinos in each specific region that are involved in the tournament qualifying period, so there are lots of folks that you have to beat to make it to the tournament. Usually you will need a royal flush to qualify.