Like slots, keno is a game of chance, but understanding the odds can help you maximize your winnings. Many people think keno odds are complicated, but it is not as hard to understand as you may think. There are just 3 basic components to learn about.
The House Edge
In order to make a profit, casinos adjust their payouts to include a house advantage. Out of every $100 a player wagers on a game with an edge of 15%, the casino will keep $15. This doesn’t mean the player never wins; just that over the course of time, the casino will earn that percentage from all of the bets placed. The average keno bet carries a casino edge of 15% to 25% which may seem high, but the low investment and high payouts make it worthwhile.
Cost of a Keno Ticket
Casino goers enjoy playing keno because it is incredibly cheap. In many casinos, you can play a keno ticket for just a penny. Of course, winnings will be in relation to the cost of the ticket, so payouts on a penny card will be just a fraction of a similar payout rate on a ticket that cost $10. Playing keno is cheaper than most government operated lotteries, and keno actually has better odds of winning than the lottery.
Perhaps the most complicated part of understanding keno odds, the payout schedule changes based on how many numbers are selected on the card. Matches are obviously more likely when you play more numbers, and the payout rates usually encourage this by offering attractive payouts for multiple matches. If you play 10 numbers on a keno card, for example, and match all 10 spots, the casino may pay out at as much as 100,000 times the cost of the card.
Most online casinos provide players with a payout table. Many keno games have an interactive pay schedule that adjusts with your selections. Look for keno tickets with the lowest casino edge, but a worthwhile payout. You may be surprised at how easy it is to increase your bankroll if you play keno.