Keno Exacta

I went to the Orleans today because I heard about a new game called Top Play Poker. However, that was closed at the time I was there.

My trip was not for waste, because I noticed a new bet in the keno lounge. It is called the "keno exacta" and pays if two consecutive tickets get the same number of catches, above a certain point.

The Exacta bet on the pick-1 has exactly a 100% return. However, much like the odds bet in craps, you have to make a negative bet to be allowed to make the mathematically fair bet.

I wrote my my analysis on my Odds site. Please have a look. I welcome all questions, comments and corrections.

Am I reading it right? Is the chance of wining the million dollar jackpot nearly 2 trillions to one?

Quote: Nareed

Am I reading it right? Is the chance of wining the million dollar jackpot nearly 2 trillions to one?

Yup, on the pick 9.

Quote: Wizard

Yup, on the pick 9.

Wow.

Just a day or two ago I was asking facetiously whether anyone would bet on odds of a trillion to one. Now I know.

Quote: Nareed

Just a day or two ago I was asking facetiously whether anyone would bet on odds of a trillion to one. Now I know.

The actual money is in the consolation prizes. Compare to most keno games, it is a good bet.

I was ready to congratulate them until I saw that the weighted return budges only a bit.

I can only picture playing Keno if I was some kind of prisoner; hours to kill and it was the cheapest way to kill them. If I was playing, yep, why not the side bet. If they asked for feedback I would mention the improvement I guess.

Is it just me, or does anyone else think that "exacta" is not the right term for this bet? An exacta is a bet on the first two horses to finish in a race in the exact order. A quinella is the same thing, but can be in either order. This sounds more like a Daily Double, which is the winning horse in two consecutive races.

Quote: Wizard

Is it just me, or does anyone else think that "exacta" is not the right term for this bet? An exacta is a bet on the first two horses to finish in a race in the exact order. A quinella is the same thing, but can be in either order. This sounds more like a Daily Double, which is the winning horse in two consecutive races.

When I read the thread title before coming in here, the first thing that came to mind was that you would need to match the numbers on your ticket in a certain order. Like if you picked 34 and 57, then you not only must match both to win, but 34 must have been drawn first.

Quote: JB

When I read the thread title before coming in here, the first thing that came to mind was that you would need to match the numbers on your ticket in a certain order. Like if you picked 34 and 57, then you not only must match both to win, but 34 must have been drawn first.

When I saw a sign for this at the casino, that is what I was expecting too.

This bet has been at the Orleans for at least ten years, it isn't new. I hit my 3 spot once and got very excited for the next game, but alas didn't come close to hitting it again.

Quote: Johnzimbo

This bet has been at the Orleans for at least ten years, it isn't new.

Better late than never.