Ok, I like the effect but not the execution.
Your handling of the control of the selection needs lots of work. You basically seem to be taking the card and putting it where you need it, which we shouldn't be able to see.
Having the rubber band examined after the selection has been made is a strange decision. If I were you, I'd keep the joker in the band in a shirt pocket, have the selection made and controlled, then introduce the joker and have the band examined.
Your switch will still be the same, but you need to make that smoother so it's not so obvious what you're doing.
That reverse was painfully obvious. You could use a turnover pass, perhaps? I'm not sure, but you definitely need to work on that or change it.
This is an effect that needs patter. It's a bit complicated and anticlimactic the way you have it now. A script will provide some build up for the final reveal.
Also, general tips: stop fiddling with the deck so much, and if you don't have a reason to move, stand still. This whole video makes it look like you're incredibly nervous and you have to pee.