Local Casino 15x Points Day - Math Challenged Disclaimer ?
where I live:
- Multiplied points do not apply to keno, video poker,
virtual roulette, virtual blackjack or any table game.
I can understand excluding VP, even though they don't
have any outstanding paytables.
But video keno ?
Doesn't that generally have a huge house advantage ?
Isn't that the one game you would want everyone
playing ?
Try to write down or take pictures of the paytables and run them through the Wizard's keno calculator.
Quote: JBIt depends. Video keno might return up to 95% or even more in some places. The reason why the house edge is surprisingly low on video keno (compared to physical ticket-and-drawing keno) is because it only takes 1 or 2 seconds to play a full round instead of 5 or 10 minutes.
What does the speed of game have to do with house edge? Shouldn't the edge be the same if it takes a minute or an hour as the math stays the same? I can see drop being low for a game so fast people do not like to play, but how is the math affected?
Quote: AZDuffmanWhat does the speed of game have to do with house edge? Shouldn't the edge be the same if it takes a minute or an hour as the math stays the same? I can see drop being low for a game so fast people do not like to play, but how is the math affected?
didn't you answer this yourself once when you said you like to get rid of obnoxious players by telling them 'the field' was the best bet on the craps table? Quickly resolved bets can make you go bye-bye fast. [edit: I think that was you?]
it's not just about the HE but making you pay the rent for the space you are taking up, so to speak. If the betting is slow, the HE has to be higher for it to be worth it. And vice-versa.
Quote: AZDuffmanWhat does the speed of game have to do with house edge? Shouldn't the edge be the same if it takes a minute or an hour as the math stays the same?
I can see drop being low for a game so fast people do not like to play, but how is the math affected?
The math isn't affected; it's because there can be many more games per hour that the house edge offered is significantly lower than with live keno.
Let's say that a round of video keno takes 5 seconds. This means it can play 720 games per hour. With a 5% house edge (and $1 bet each round) that machine earns the casino $36 per hour.
With live keno, let's say they wait 10 minutes between each game. This only allows 6 games per hour. To maintain a similar win per hour, the house edge needs to be significantly higher (or they need a lot of people to play every drawing, which is unlikely).
To quote the Wizard's keno page:
Quote:There are two formats for playing keno: live and video ... Live keno plays much slower, but the house edge is much higher than video keno.
Quote: odiousgambitdidn't you answer this yourself once when you said you like to get rid of obnoxious players by telling them 'the field' was the best bet on the craps table? Quickly resolved bets can make you go bye-bye fast. [edit: I think that was you?]
it's not just about the HE but making you pay the rent for the space you are taking up, so to speak. If the betting is slow, the HE has to be higher for it to be worth it. And vice-versa.
Sounds like something along the lines of what I would say. But my question was that if the edge was the same, why would speed of game lower the edge. The OP didn't say the odds were different for the two versions, at lest not how I read it.
I've never thought it was that high. I have an electronic acquaintance who was addicted to Cleopatra Keno and some other varieties and I recall telling her she was at a twelve percent house edge though I think I pulled that figure out of thin air because I had none of her pay tables available to me at the time.Quote: JBVideo keno might return up to 95% or even more in some places.
Quote: AZDuffmanBut my question was that if the edge was the same, why would speed of game lower the edge. The OP didn't say the odds were different for the two versions, at lest not how I read it.
They install the game with a lower house edge than live keno because the speed of play is so vastly different. I didn't mean to imply that the rate of play would affect the house edge, but I can see how what I wrote could be interpreted that way.
It's just like video poker. The house edge offered is typically low because of the rate at which it can be played. A fast player on a fast machine can play 1500 or more hands per hour; with single-hand 9/6 Jacks or Better for dollars, the casino is making $34.21 an hour (excluding comps/mailers/etc) from that player.
Quote: JohnnyQ- Multiplied points do not apply to keno, video poker,
virtual roulette, virtual blackjack or any table game.
Video keno is often installed on multi-game machines, like IGT Game Kings, which also offer video poker. Most casinos do not have the ability to offer a point multiplier for some games on a machine but not other games on the same machine. They want to exclude video poker, so they exclude the multi-game machines, which means they exclude video keno as well.
