As with any casino game, the odds in 3-card poker slightly favor the house. In fact, the exact odds are that the dealer wins 55.03% of the time, the player wins 44.91% of the time, and there's a slight chance (0.6%) that there is a push (where the dealer and a player both have equal hands).
The usual strategy for when to make the Play wager is to bet whenever you have Queen-6-4 or better, including any time your high card is an Ace or a King, no matter how high your other two cards are, and also anytime your hand is Q-7 or better, regardless of your third card. Fold if your hand is not at least that high.