A player can bet on 1 to 15 spots in Microgaming’s standard keno game, and the house advantage changes depending on how many spots are played. Using strategy while you play video Keno online can change your payout rate from 70% to 96.56%. At KenoOnline.ca we recommend the OverLap Strategy. The OverLap Strategy involves betting on 7 or 13 spots for the purpose of reducing the house edge.
Microgaming’s Virtual Keno Game
Each type of keno has different characteristics that set it apart from others, and this is especially evident in Canada. The features you need to know about Microgaming’s virtual Keno game are that the two best bets have payout rates of over 96 percent, so you should only choose between these two bets when you play keno online. The two best bets are:
- Picking 7 spots to bet on
- Picking 13 spots to bet on
Betting on 7 spots has a slightly lower payout rate of 96.35 percent compared to the 96.54 percent payout rate of betting on 13 spots. The strategy of staggering your bet between 7 and 13 spots is called the Overlap Strategy.
The Overlap Strategy – Staggering your Bet
The top payouts for betting on 7 spots is 12, 36 and 100 times your bet. Depending on your bet size, this can give you some pretty decent payouts.
When you bet on 13 spots, however, you have larger jackpots available because the top payouts are between 500 and 6,000 times the size of your bet. But, your chances of winning consistently are lower.
It is easier to hit the highest payout with a 7 spot than it is for a 13 spot, though the payout is lower. Choosing between betting on 7 spots or 13 spots is a balance between risk and reward.
Since the variance ratio of the 13 spot to the 7 spot is about 4:1, betting 1 unit on 13 spots is roughly equivalent to betting 4 units on 7 spots in terms of the balance between risk and reward. This is the key idea that drives the Overlap Strategy for Microgaming’s keno game.
Using the Overlap Strategy
Divide your bankroll into somewhere between 80 and 120 equal units so that you have a round number as a betting unit. For example, if your bankroll was $250, you might choose a betting unit of $3.
You’re going to alternate between betting on 7 spots and betting on 13 spots with the Overlap Strategy in an attempt to balance out the advantages and disadvantages of the top two bets in the game. You will always wager 1 betting unit on 13 spots, but you’ll need to bet 4 betting units on 7 spots.
The point here is that your top jackpot with the 7 spots becomes 400 betting units instead of just 100, and this brings it up to par with the large jackpots available with the 13 spots while providing better chances to hit the best prizes. This creates a completely balanced online keno strategy that gives you good chances to win medium and large prizes. To further illustrate, suppose your betting unit using a $250 bankroll is $3. This means that you would be betting $3 when playing 13 spots, and you would bet $12 when you play 7 spots. The point of this is that the payouts line up better between the two different bets. By alternating between the two best bets in the game using this wagering scheme, we get chances to win sizable prizes with a moderate level of risk.
Using the Overlap can increase the payout rate from 70% to 96.54%, therefore it is highly recommended. To play Microgaming’s virtual Keno game visit Roxy Palace Casino.