Risk Category F, Very high risk
Keno is one of the worst games in the casino with house edge varying from 4-30% depending on the software (Cryptologic and particularly Boss Media are very high and own brand softwares could be just as bad). The house edge and variance depend on how many numbers you choose.
The game is very similar to playing the lottery, where you choose numbers and win more money the more numbers you get right. Prizes for all correct can be very big for a small stake, but are extremely unlikely.
All numbers have identical chances of being chosen in a given game. The only strategy is to choose the number of picks with the highest return, which is different for different softwares. There is a table of these at the bottom of this page – be aware that when this table says 90% it means that for every £1 staked your expected return is 90p, NOT £90 from a £100 bonus over a WR. For the lowest house edge keno games you can expect to run into negative EV (less than 50% chance of gain) at somewhere around 25x wagering, the worse ones will become negative much quicker.
Keno should only be used for bonuses when there are no other options, and preferably only for no deposit ones.
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