Jokers Wild is five card draw poker with the addition of one joker.  This means you are playing with a 53 card deck instead of 52.  The joker is a wild card, and can be played as any card you want.  

The existence of a wild card increases your chances of getting a good hand,  so the payout schedule is adjusted accordingly.  You need a two pair or better to get paid.  Below is a table showing typical payouts in Las Vegas.