What Odds Can You Expect in Keno and what’s the House Edge?
Keno odds and the house edge can be confusing to many Keno players. We’re here to clear that up, and answer some questions, like “How good (or bad) are the odds in Keno?” “Is it true that the house edge is worse (for the player anyway) than other casino games?” “How can I improve my Keno odds and reduce the House edge?” Well, gentle reader, read on.
It’s a good guess that you’re already familiar with the Bingo-like game: Keno. Pick anywhere from one to 20 numbers and hope they match. The more numbers you match, the bigger your winnings! Unfortunately, the odds of winning something substantial are unlikely. Yes, it’s true that a one dollar bet can win (say) $1500, but one dollar can also win you millions in the state lottery (with very bad odds).
What we’re trying to say is, despite the ease of play, the house edge on Keno is quite large. The actual number varies from casino to casino (as the house edge is determined by the payouts), but you can bet (pun intended) they are bad.
Again, the odds against you winning usually change with the number of numbers picked. There are some casinos and online sites that try to match the odds relative to the payout. For example, an unlikely match will have a higher jackpot. However, this is a bit misleading because you can never make up for losses. Remember, the game runners need to make a profit. Still, chances for winning tend to be higher at the smaller end of the bet. It’s not a big deal if you win an $8 bet but you can bet the odds against you winning that $30,000 jackpot are high.
So can you beat the odds? Like with nearly all gambling games, you cannot in the long run. The game is set to give a very high house edge. The best you can hope for is to increase the odds by avoiding bad bets (picking many numbers) and avoiding casinos with a high house edge. Keno’s house edge can vary from a semi-reasonable 4% to over 66%! That’s a bad house edge for you! Even playing at the midpoint is bad. Play Keno at a place with a 30% house edge and you’ll lose money nearly twelve times as fast as Pai Gow Poker or even six times as fast as slots! Still, many like Keno because it’s so leisurely.
Playing more numbers doesn’t void the house edge either. Odds against hitting all 20 numbers are roughly 1 in 3.5 quintillion (that’s a big number – a one followed by eighteen zeros. Now times that by three and a half! It’s a bad bet).
So if you want to throw a few bucks on a chance for big winnings go ahead and play a few games. Just don’t do it for very long. The Keno odds are against you and the house edge is too high.
