Keno use to be one of my most favourite games. It was easy enough to play, and you always “came close” to your number, giving you that false hope that your only a number or two a way from htting it big.
At a nearby casino, I examined their multiple keno game plays, all costing different amounts. I took home the card and did some research on the internet to find out what my best odds would be, for a certain dollar played in order to get a nice profit if I won.
I took a look at this Keno odds chart and I was very shocked to see certain combinations are extremely hard to hit.
For instance, if you bought a $5 Keno ticket, where you picked 6 numbers, and your payouts would be:
Match 6 numbers, win $6,000
match 5 numbers, win $275
Match 4 numbers, win $35
Match 3 numbers, win $5
Match 2 numbers, win nothing
Match 1 number, win nothing
You might think, well, $5 isn’t too expensive if I can win $275, even $6,000!
Let’s look at your odds now:
Match 6 numbers, you have 0.1% chance of a win (Buy $38,755 worth (7,751 tickets x $5 ea) you are bound to win once)
Match 5 numbers, you have 0.3% chance of a win (Buy $1,610 worth (322 tickets x $5 ea) you are bound to win once)
Match 4 numbers, you have 2.8% chance of a win (Buy $170 worth (34 tickets x $5 ea) you are bound to win once)
Match 3 numbers, you have 12.9% chance of a win (Buy $35 worth ($7 tickets x $5 ea) you are bound to win once)
Match 2 numbers, win nothing, 31% chance
Match 1 number, win nothing, 36% chance
Match 0 numbers, win nothing, 16 chance
So those are your wonderful keno odds. Buy a $5 pick-6 ticket, and there is a 83% chance you will win absolutely nothing.
There is a 13% chance you will win your $5 ticket cost back.
That’s 96% of the time, you will either lose, or only win your money back.
This is why people go broke playing Keno. Lot of fun, isn’t it?