Progressive keno tickets have been around for years, but several years ago the Gaming Control Board lifted most restrictions as to how high a keno progressive jackpot might progress. This has led to many jackpots in the $100,000-plus category, and even a few over a quarter of a million dollars!
It’s the nature of progressive jackpots that most of them are not great deals at the moment the meter starts running, but from the player’s point of view they get better and better as time goes on.
The astute keno player must take a "Man from Mars" approach to progressive jackpots, and have the self-control to refrain from playing these tickets until the jackpot has reached a certain level. Once the progressive has reached that level, by all means start playing!
The astute keno player (Man from Mars) will start playing a progressive ticket once the meter has reached a point that provides a negative house percentage. See the first example of a $2 eight spot progressive:
At its initial payouts, it’s not a bad ticket, but it’s not one of the best around, either. After the jackpot grows to $100,000, the structure looks like the second paytable
The house percentage from the "Man from Mars" perspective is a very good 18Â½ percent. Once this jackpot has grown to $185,520.00, this will be at least a break even (or better) proposition for the player, and should definitely be played at that point. Of course, playing 8 spots does require some patience.
Well, that’s it for this week, Good luck! I’ll see you in line!