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Volatility in Online Casino Keno Games

By: Adam Richards, Friday December 11th 2009
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Volatility is a term often heard with reference to online casino games. It is usually heard in connection with online slot games, but other casino games can be volatile as well. Online keno is one such game. There are two characteristics associated with volatility. The first characteristic is the possibility of very large payouts in the rarely occurring outcomes. The second characteristic is that for the more frequently occurring outcomes the payouts are at a very low level or there are no payouts. In low volatility online casino games the payouts are at a moderate level, but occur much more frequently.

As in the case of online slot games, the volatility of online keno games are determined from the payout table. In online keno the payout table is generated depending on the number of slots marked on the keno card. The payout table differs for different numbers of slots marked. Hence to compare the relative volatility of two online keno games players must first ensure that they are comparing the payout tables for the same number of slots marked on the keno card. Most online keno games allow for a maximum of 15 slots marked on the card. Hence the following comparison is based on the tables for 15 slots marked.

Online keno from Realtime Gaming has high volatility, whereas online keno from Vegas Technology has low volatility. The first criterion of high volatility casino games is that they offer relatively much larger payouts. In Realtime Gaming keno, the payout for getting twelve of fifteen numbers is 25,000; for getting thirteen of fifteen numbers is 50,000; for getting fourteen of fifteen numbers is 100,000 and for getting fifteen of fifteen numbers is 100,000. In Vegas Technology keno, the payout for getting twelve of fifteen numbers is 600; for getting thirteen of fifteen numbers is 1,200; for getting fourteen of fifteen numbers is 2,500 and for getting fifteen of fifteen numbers is 10,000. Therefore Realtime Gaming keno offers much larger payouts. But getting twelve or more numbers out of fifteen is an extremely rare occurrence.

In order to confirm the volatility the payouts at the more frequently occurring possibilities should also be compared. The chances of getting five or less than five numbers out of fifteen are very high. In Realtime Gaming online keno there is no payout for these outcomes. The payouts begin with getting seven out of fifteen numbers. On the other hand in Vegas Technology online keno the payouts begin with getting three numbers out of fifteen. The payout for getting three of fifteen numbers is 0.5; for getting four of fifteen numbers is 0.5; for getting five of fifteen numbers is 1 and for getting six of fifteen numbers is 2.

Vegas Technology online keno will pay out small amounts most of the time but never very large amounts and therefore has low volatility. Realtime Gaming online keno will rarely pay out but when it does the amounts will be substantial and therefore has high volatility.

Wagering $1 on low volatile keno will usually result in winnings in the range of $0 to $1. This may not attract many online players. There are players who would not mind wagering a limited bankroll and losing it all. But if they win they would like a payout in thousands of dollars for each dollar wagered. Such players would go for volatile online keno games.

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Comment by: m8351 On: February 04, 2010
Booo... keno come on really is this game still even played by people, haha! I think that keno would be a lot better if they mixed it up and added some cool new features and concepts to the game itself.
Comment by: Eric Millier On: December 30, 2009
I find that games with high volatility where by they put most of the risk of the game in the one single biggest prize is good if you're able to actually hit those big prizes. Unfortunately though 99.9% of the time those prizes are not won very often and you'd be lucky if you hit them ever. Just like progressive jackpots where the odds are so not in your favor the same thing really applies to any game with high volatility. Winning all the numbers in keno is a good example of just that in that it's virtually impossible to get all the numbers you need in order to win the big prize. I don't really care though cause I don't really play Keno nor am I a fan of the game in general.
Comment by: Joshua On: December 28, 2009
Yeah keno is a pretty boring game type. I don't think that by any means that it's a necessity of a game type that should be available within online casinos.
Comment by: Gambler Style On: December 16, 2009
This is one of the main reasons why I don't personally really like games like keno, lottery type games, scratch card games, etc... I don't really enjoy this aspect to them and the fact that everything is really in the big prize and there really isn't all that much in the small prizes.
Comment by: Joshua On: December 14, 2009
The volatility in Keno is sort of the same as the volatility you'd find in conventional lotteries where most of the volatility is in the top prize. I guess the same thing can be said about most slots games as well as video poker variations out there where the real payouts don't come about unless you hit a combination that would be very difficult to get.

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