Keno Tournament

Has anyone or is familiar playing a Keno tournament? There was a $10k guarantee tournament with a $325 buy in paying top 10. I couldn’t play because I was teaching that weekend but it turned out there were only 28:players. I know it was incorporated into the regular Keno numbers in the casino and you played 60 games so it took about 8 hrs to complete. Regardless of the game, I think there was huge overlay. Top prize 5k.

Quote: Vegasrider

Has anyone or is familiar playing a Keno tournament? There was a $10k guarantee tournament with a $325 buy in paying top 10. I couldn’t play because I was teaching that weekend but it turned out there were only 28:players. I know it was incorporated into the regular Keno numbers in the casino and you played 60 games so it took about 8 hrs to complete. Regardless of the game, I think there was huge overlay. Top prize 5k.

So a $900 overlay. Wouldn’t call that huge. Divided by 28 players over 8 hours is a smidge over $4 an hour.

In terms of context, when a casino is offering a $10k Guarantee, and there are only 28 players, it’s an AP. Very similar to a poker tournament. Any poker player would jump on those numbers, even though Keno is strictly a game of chance with zero skill.

Quote: Vegasrider

In terms of context, when a casino is offering a $10k Guarantee, and there are only 28 players, it’s an AP. Very similar to a poker tournament. Any poker player would jump on those numbers, even though Keno is strictly a game of chance with zero skill.

That’s not correct. It depends on the buyin also. If the buyin was $1k there is obviously no overlay.

Buy in was not $1k, it was $325. Tournament capped at 100 players due to C19 restrictions based on room capacity. From what I heard, some players did not stay for the entire 60 game session. Not sure what the rules are when people leave. It does make it a grueling day, staying for all 60 games.

Quote: Vegasrider

Buy in was not $1k, it was $325. Tournament capped at 100 players due to C19 restrictions based on room capacity. From what I heard, some players did not stay for the entire 60 game session. Not sure what the rules are when people leave. It does make it a grueling day, staying for all 60 games.

I know. I calculated the overlay and EV per hour in my first post.

Quote: Vegasrider

Buy in was not $1k, it was $325. Tournament capped at 100 players due to C19 restrictions based on room capacity. From what I heard, some players did not stay for the entire 60 game session. Not sure what the rules are when people leave. It does make it a grueling day, staying for all 60 games.

You can pick your numbers and advance play for the next 60 games if you want. No need to stay at the keno outlet. Then you can leave and come back later to see the results. Not a grueling day at all. I don't think hardly any of the players stick around all day.

I have no idea how that tournament worked, but I signed my wife up for a big Bingo tournament a few years ago. I believe it was a $600 buy in with a $100k first place prize and a total of $250k payout. It had a cap of 150 people. It sounded like a larger overlay to me and that is why I signed her up. It turned out to be a big loser because althhogh they limited it to 150 people, each person was sold as many entries as they wanted onsite. My wife said the average person had between 5 and ten entries and she only had one. Obviously that lowered her EV so much it made it a bad bet.

Quote: DRich

I have no idea how that tournament worked, but I signed my wife up for a big Bingo tournament a few years ago. I believe it was a $600 buy in with a $100k first place prize and a total of $250k payout. It had a cap of 150 people. It sounded like a larger overlay to me and that is why I signed her up. It turned out to be a big loser because althhogh they limited it to 150 people, each person was sold as many entries as they wanted onsite. My wife said the average person had between 5 and ten entries and she only had one. Obviously that lowered her EV so much it made it a bad bet.

Yeah, I'm not familiar with Keno tournaments but I was thinking along the same lines. Being that only 28 players played made me rethink future tournaments. Im not sure if it was limited to a max buy in or single. Like playing ANY game, I must do research and read up on rules. I know there was a tournament area set aside in the casino with free food and drinks fir the participants.