A method of playing a wagering rummy-type card game on an electronic device wherein the object of the game is to create sets or melds of cards that each comprise exactly a straight, flush, straight flush, royal flush, and/or like ranks. The game begins with a total wager from each player, the total comprising at least one separate wager, and is played with a predetermined number of initially-dealt cards to each player. The initially-dealt cards are placed into and completely fill at least two melds. Preferably the cards are automatically placed into the melds by an Optimum Expected Value function. Each player then has the option of folding, or alternately forfeiting one wager or placing an additional wager to receive each of a predetermined number of community cards that are then sequentially dealt. The player has the option to replace any card in any meld with a community card, and the cards in the melds may be rearranged after any replacement. The game result may be determined before or after the final community card is dealt and/or replaced, with the winning wagers being determined by a predetermined paytable.