Last Update: April 10, 2012
Orleans & Gold Coast — Pick 8
Two exceptions are the Orleans and Gold Coast. They claim there is no maximum to high how the meter can go. Both casinos have the same rules but the meters are independent.
The progressive is on the $2 pick-8 and pick-9 game. Both games share the same meter. The progressive is exactly 6 times easier to hit on the pick-8, so I'll save my discussion for that. The following table shows the expected return at the reseed amount of $100,000 is $1.45 for a $2 bet, or a return percentage of 72.7%.
The general formula for the return percentage is 50.97% plus 2.17% for each $10,000 in the meter.
From my main keno section we see the best return for a $1 pick-9 ticket is 79.85% at the Silverton. The meter needs to only reach $132,914.57 to surpass the Silverton's return. At $225,650.75 the odds turn in the player's favor.
So far there have been five progressive winners, all with pick-8 tickets. The winning meters have been $185317.09, $106373.66, $172616.09, $118454.00, and $160380.48. So in the history of this game the meter has never gone positive.
It should be noted there is a maximum payout to all players of $500,000. In the unlikely event the meter ever grew beyond $500,000 the expected return would be 159.61%, assuming no risk of sharing the jackpot.
The Mega 10 is a progressive keno game offered at Station Casinos. It is a pick-10 game and costs $1.50 to play. The following table shows the expected return for a $0 jackpot.
What this shows is that before considering the progressive jackpot each ticket has an expected return of 54.44¢, or 35.62% based on the $1.50 ticket price.
For each $1,000,000 in the jackpot the return goes up by 11.22¢, or 7.48%. On the day I noticed the game in March, 2012, the meter was at $1,218,331.31, for a return of 67.11¢, or 44.74%. To reach the break-even point, or a 100% return, the meter would need to reach $8,605,379.94.