Both sets of results are based on the standard 80 ball game with 20 balls drawn and $1 bet. One is from the Ohio State Lottery and the other is from an online casino - similar to what you would see at Bodog. Inside the odds spreadsheet I also provided two payout schedules from real-life to illustrate the point. In the previous sections I pointed out the large differences in payouts for kenos games and illustrated how to calculate what the house edge is on any keno game. Then you add up the amounts to find out the total expected return of the bet. In order to calculate the house edge, you simply calculate the probability of winning on each of the number of matches (1 out of 5, 2 out of 5, etc.) and multiply it by its correlating prize, which is shown on the payout schedule. You can download my odds spreadsheet by right-clicking and selecting 'Save target as' to calculate the casino's edge of the keno game you play. 'What is the probability of hitting 4 out of the 5 numbers I picked when 20 numbers were drawn out of 80'). Here is the equation for calculating the probability (p) of hitting (n) numbers out of the (x) numbers you picked when (y) numbers were drawn out of (z) total numbers (i.e. A game that returns 95% to the player means that the house is keeping 5% of the amount wagered but a game that returns only 65% to the player means that the house is keeping 35% of the amount wagered - 7 times as much! Calculating the odds This doesn't seem like a big difference until you look at the inverse of those numbers - the house profit. For Keno games played at land-based casinos, they tend to be better than the Keno games run by the state lotteries but still way below the online games. The percent payout to the player will usually be around 65% for Keno games run by a state lottery and around 90-95% for online Keno.

This will allow you to get the maximum amount of playing time on your money. Like any game, the purpose of calculating the odds of a game is to figure out how much of your money will be paid back to you.

Keno odds and payouts ohio