Can You Quit Your Job To Play Keno?

By The Original “Mystic Gambler”

Back in the 80’s I was in Laughlin with a friend and we were having unusually good luck playing keno and slot machines. It seemed that we couldn’t lose. We both had won $1,200 playing the keno special at the Pioneer Hotel and Gambling Hall and we were feeling pretty high. As we were taking the ferry boat over to the Riverside Casino he asked me, “Do you think we could make a living doing this?”

I’ve read articles where people say that they can live off their gambling winnings. I have my doubts about that but I know for a fact that you can do really well when it comes to getting comped. And I speak from experience. One of the reasons for this is that the perceived value of a comp, the published ‘retail value’, is much higher than what the benefit actually costs the casino.

Let’s take the cost of a buffet for example. The actual cost of the food eaten may only cost the casino but the perceived value could be $25 or more by the player. Or a comped ticket to a show that may have not sold out might not cost the home casino anything. The same thing goes for rooms that may be given away for certain nights. The casino more than makes up for these perceived values.

So, how is it possible to get an “edge” over the house? To begin with, you must know the best way to play your keno ticket – or cards.  To do that you can learn to do the calculation yourself, use a computer program, study on the internet, read a good book or The Mystic Gambler Keno Smart Charts.

It’s true that the game of keno is managed not to payout more than is taken in, there can be exceptions. Most notably being the circumstance of a progressive being so high that the percentages switch over to be in favor of the players. This has been documented at The Atlantis (Reno) in their “more to the Meter” progressive where 50 cents of every ticket goes into the progressive, as well as statewide in Megakeno.

Another winning keno opportunity can be found The Station Casinos with their jumbo progressives for 6, 7, 8 and 9 spots. It could possibly get high enough to see the advantage switch. While not very likely but perhaps possible is the 8-spot progressive at the Gold Coast and The Orleans if you’re the type of player that can wait for the keno jackpot to get high enough to make playing it advantageous.

When it comes to getting on these progressives, the trick is knowing how to calculate the break-even point. This is where, at a given moment in time, the house edge drops to zero due the progressive payout getting very high. Calculating this has gotten easier over the years because there are several websites that have keno calculators, one of the better ones being as Michael Shackleford’s (a well renowned gambling expert from UNLV) wizardofodds.com.

All you have to do is simply convert the keno ticket price proportionally to $1 per ticket and adjust the payouts based on a per dollar amount. After that just enter the information into the calculator and you can see the return on any given ticket. But you must keep in mind, due the long odds on a higher number of spots, you will need a large bankroll to be in the game. And remember, it’s still a gamble.

The idea is that, from time to time, opportunities do open up where a keno player can find an unusual advantage. But getting there can be a great effort and unduly stressful. For most of us, we just want to enjoy the game, get the best return for our gambling dollars and not be concerned about whether that rare  theoretical return is to our advantage or not.

I found that sweet spot with four card video keno. And the system that I use doesn’t require a fancy computer program or a lot of study. It all done for me with the keno smart charts. It’s that easy.

And that brings me back to the comps. Keno can be quite attractive when you consider the comps in with your total return. Especially using the charts that allow you to play for longer periods of time. If your bankroll lasts longer, comps are available, and you have the possibility of winning big – what more could you ask for? And no, you’re not going to make a living at it but it sure is a lot of fun.

May the good news be yours!