A video keno question?
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diceman9788
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A video keno question?
Not sure if anyone here will know the answer, but I figured someone may. On video keno a 1 dollar bet on 7 out of 7 numbers pays $7000. You are suppose to hit 7 out of 7 1 out of 40978 hands. I was wondering how high a progressive would have to be to make this game worth playing. I guess my question is this: I have seen some 7 out of 7 progressives over $10,000, I was wondering if you took $10,000 in cash and played this game, what are the chances of you hitting the jackpot before going broke? Thanks in advance for any replies.
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New2vp
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You have to specify the intermediate hits in order to even attempt to answer that question. I don't play keno so I don't know what reasonable payoffs are. But if you assume that the payoffs look like the table below, one can make some estimates.
4 out of 7 $1 (you get your money back)
5 out of 7 $25 (for a profit of $24)
6 out of 7 $500 (for a profit of $499)
7 out of 7 $10000 (for a profit of $999)
This table has a house edge of 12.28%. To remove the house edge would require a jackpot of $14991 on the last line.
With the given table and a starting bankroll of $10000, assuming you quit after a jackpot is hit or you run out of money, after 42,000 plays (if you could stand playing this long), you would have run out of money about 51.10% of the time and hit a jackpot about 48.04% of the time. And you would still be playing the remaining 0.86% of the time.
The high probability of hitting a jackpot may be a bit misleading. When you run out of money, you lose $10,000. When you hit a jackpot, you will generally have won less than $10,000 in profit since a lot of the winners will occur after already losing 1/2 or more of your stake.
Good luck with this game! You'll likely need it!
4 out of 7 $1 (you get your money back)
5 out of 7 $25 (for a profit of $24)
6 out of 7 $500 (for a profit of $499)
7 out of 7 $10000 (for a profit of $999)
This table has a house edge of 12.28%. To remove the house edge would require a jackpot of $14991 on the last line.
With the given table and a starting bankroll of $10000, assuming you quit after a jackpot is hit or you run out of money, after 42,000 plays (if you could stand playing this long), you would have run out of money about 51.10% of the time and hit a jackpot about 48.04% of the time. And you would still be playing the remaining 0.86% of the time.
The high probability of hitting a jackpot may be a bit misleading. When you run out of money, you lose $10,000. When you hit a jackpot, you will generally have won less than $10,000 in profit since a lot of the winners will occur after already losing 1/2 or more of your stake.
Good luck with this game! You'll likely need it!
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shadowman
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Continue with Google