Everyone desires wealth. Having access to vast sums of money makes life simpler, there is no doubt about that. However, attaining a decent enough fortune for a comfortable lifestyle is not easy. It requires a mixture of hard work and luck. Lotteries are money-making opportunities that only factor in the second aspect mentioned, where all the work someone has to do is buy a ticket and pick their numbers. They are chance-based gambling that can yield life-altering prizes at Lady Luck’s whim.
Keno is a unique lottery-style game with wide availability due to it implementing a pari-mutuel payout system. Nevertheless, it also can have a fixed prize pool depending on who is offering it. Pari-mutuel betting is a format that got established in horse and dog racing, and it involves all bets made getting placed in a prize pool. The payout odds then get calculated via the funds in the pot and the number of winning wagers. Naturally, the organizer takes a percentage called a vig from this pool for his services.
The option to implement pari-mutuel betting is why keno is on hand at bars and venues run by charitable organizations. However, it also gets provided by casino and state lotteries, where the rewards can be pre-determined, particularly concerning jackpot prizes and keno gambling machines. For interested parties looking into playing online, here is a test keno simulation game for free to try out different strategies and see how specific pay tables work. In what follows, we will try to explain, generally, what you can expect to win when enjoying this popular gambling pick.
Progressive Keno Prizes & Jackpots
A jackpot is usually just another name for a large prize that a game can payout. It is often the most massive one available. Though, that is not necessarily always the case. Progressive jackpots are ones where a pot grows until one lucky player wins it all, and the prize pool resets to its default seed value. Since many keno games incorporate a pari-mutuel betting system, if no substantial prize gets cashed out in one draw, the accumulated funds spill over to the following one. Thus, the prize pool can continue growing.
Some state-run keno games have fixed jackpots for those that can match all twenty numbers a machine picks at random. The odds of that occurring are astronomical, in the billions. One of the most notable keno jackpots of all time got hit in November 2020 in Australia on the Keno Mega Millions Australian Lottery. That was a prize of $9.1 million landed with nine matched numbers. Hence, it is possible to win rewards worth millions of dollars if you play national and state-run lottery games. Casino ones cannot yield such rewards due to their smaller player bases. The gameplay involved in public ticketed draws may also require that players pick bonus numbers that can multiply their winnings en route to a significant payout. The potential max amount that can get won on keno draws depends on many factors specific to each game.
Keno Pay Tables & Payouts
There are multiple variations of keno out there. The most common one involves eighty numbered balls. In it, players get to choose up to twenty picks per draw. Now, the drawn matching numbers on a player’s ticket and how much that player stands to win can get directly affected by how many numbers he has played. Getting eight out of eight right can provide a better reward than eight out of ten. Again, this depends on individual game rules and paytables.
Most keno draws have a jackpot prize, usually won when players accurately predict eight or more drawn numbers and a cutoff reward limit. So, if you need ten matching numbers to win a prize of one million, hitting six can get you a consolation reward of one of a few hundred dollars, but matching five or less will get you nothing. The minimum limits may vary depending on how many numbers a player has chosen to play. Picking seven may require at least three matching numbers for a small prize, but selecting eight may require four.
There are different paytables for different keno games. Therefore, it is hard to give a broad description regarding what one can expect to win at state/national or draws that utilize the pari-mutuel system. In terms of online games and video keno, things are much more rudimentary. These products use random number generators, and they have pre-defined prizes applicable to all players while offering a better winning probability. That said, they won’t make anyone a millionaire. The best they can do is put a few thousand dollars in a player’s pocket.
About the Author
Shelly Schiff has been working in the gambling industry since 2009, mainly on the digital side of things, employed by OUSC. However, over her eleven-year career, Shelly has provided content for many other top interactive gaming websites. She knows all there is to know about slots and has in-depth knowledge of the most popular table games. Her golden retriever Garry occupies most of her leisure time. Though, when she can, she loves reading Jim Thompson-like crime novels.