4 Card Keno Odds

Are the odds of winning divided by 4 on 4 Card Keno? Example: Hitting 7 of 8 on Keno are roughly 1 out of 6200. Playing 4 Card 8 Spot should roughly be 1 out of 1550. I assume this is accurate, but am I correct?

Sort of. It depends on the overlap. If you are playing four 8-spot cards and none of the 32 numbers are on more than one card, then yes. On the other hand, if you play the same eight numbers on all four cards, then obviously the chance of hitting 7 is still about 1 in 6200; it's just that you get paid four times as much, since in effect you are playing one card and are betting four times as much.

I've been playing 4 Card 8 Spot, middle 4 columns til it hits 7 out of 8. I also play all 4 edges. No overlap. Never expected to hit an 8 spot, just a good "tread water" pattern. Hit 2 in one day last week and everything I touched was golden. Cashed out $2500 that day, all nontaxable. Thanks for your comments.

It reduces the variance if there is no overlap.

For example, if you played 20 card keno and bet two spots on each card with no overlap, you would have half the board covered. It would not be possible to win on all 20 cards (maximum is 10), but on the other hand, the chances of winning nothing are pretty low.

Thanks.