Keno Odds Are Not Good - What's The Attraction?

Odds (from wizardofodds)

In 2001 I did a survey of every live keno casino game in Las Vegas. The returns ranged from 65% to 80%. In other words, the house edge was 20% to 35%, making live keno among the worst bets you can make in Las Vegas.

In 2012 I did a similar survey of live keno in Laughlin, which showed a range of return of 50% to 74%.

In 2008 I did a survey of video keno in San Diego. The returns ranged from 84% to 95%. While the odds are much better in video keno than live keno, keep in mind that the rate of play on a machine is about 50 times faster. Assuming the same bet size per game, you can expect to lose more per hour playing video keno.

Source: http://wizardofodds.com/games/keno/

 

In my country it is 50% pay out, not very good. But people play it, I buy one sometimes. Most put in 5 dollars only. The attraction is not the odds, wich is remote. But IF you win the bigger, you can stop play, it can be millions, in some more populated countries a lottery can pay out billion.
The chanse of the jackpott of 100 million is very remote, the chanse you die on the way to the bank is greater. But people know THERE ARE WINNERS.

People without a fortune and no chanse in life to get very rich, it is not too irrational to by a ticket. It is a Dream for only a few dollars.

 

Where I live, some numbskull about 7 years ago, took these Keno spot ten numbers: 30 31 32 33 34 35 36 37 38 39 and the idiot collected $3M. The casino still promotes this dude's lucky day.

 

I check every day for a post in the "Advanced Play (keno)!

 

Advantageous situations can be found in video keno progressvies....but you won't find them in Nevada. The only advantage play I ever had in video keno in Nevada was when John Ascuagua's Nugget had a promotion about 10 years ago where you got paid double for the top line hit. You had to play at least five numbers. I had to find a five spot payscale that was top heavy. The promotion was supposed to last for two months. About a week into it they disqualified the five spot. So I moved up to the six spot. A few days later they cancelled the promotion altogether as other people had the same idea as me.

 

The keno lounge GoldenNugget in Laughlin had a terrific birthday promo in the past, excellent advantage play.

 

In our country, the payout for the lottery is only 50%, which is not very favorable. Despite this, many people still participate, and occasionally, I buy a ticket myself. Most individuals invest just 5 dollars in hopes of striking it lucky. The allure of the lottery doesn't lie in the odds, as they are indeed remote. However, the potential to win a life-changing amount, sometimes in the millions, fuels people's interest. In certain more populated countries, lotteries have even paid out billions.

The chances of hitting the 100 million jackpot are incredibly slim, and statistically, the likelihood of perishing on the way to claim such winnings might even be higher. Nevertheless, the fact that there have been past winners is a significant motivator.

For those without great fortunes and limited prospects of becoming wealthy in their lives, buying a lottery ticket doesn't seem too irrational. For just a few dollars, it offers a glimmer of hope and the possibility of realizing a dream that might otherwise be unattainable.