This game goes down as another attempt to complicate Texas Holdem and thus to make it even more interesting. Players get 3 hole-cards each, followed by the first betting round. After that, a single community card hits the board, followed by betting. This sequence is repeated until there are 4 community cards out there. Then comes the last betting round and the showdown. Players are allowed to use any combination of their three hole-cards and the community cards off the board to make their showdown hands.
The interesting thing in Lame Brain Pete is that the lowest card on the board becomes wild and so will all other cards of the same value. Think about it, there is no deuce among the community cards and you’re pot committed on the turn. Your fate is largely decided by what the river brings about. Because of this, I assume there’s a lot of checking going on before the river, unless there is a 2 on the board.
Wild cards can be used to complete straights, flushes, pairs, just about any poker hand, so do not underestimate them.
Because of this wild-card rule, Lame Brain Pete is probably a game, which is too unbalanced to be taken seriously-enough to ever appear online. It becomes much more luck-dependant than Texas Holdem.