Keno strategy can be divided into two parts. One is playing strategy and the other is managing the bankroll.
Playing Strategy
Keno is a game with a high house edge and should not be played over long periods. It is usually played by professionals to take a breather from their other gambling pursuits or while waiting for a table in other games.
Determine your risk return level. In most casinos $1 bet on matching all numbers from 4 selected will pay out $80, whereas matching all numbers from 10 selected will pay out $10,000. However the former option is considerably more likely. If you are happy with $80 take the first option. If $80 means nothing to you then go for the second one.
Generally casinos arrange the payouts so that selecting more numbers has a lower house cut. This is another reason to select more numbers.
Tips for Bankroll Management
Choose your stakes according to your bankroll. If you have a bankroll of $50, do not play $5 stakes.
Many land casinos allow bets of $0.50 or even less. Low rollers should opt for these stakes.
If you happen to win early, keep a part of your winnings aside. That way you can limit your losses.
Avoid raising stakes for making up losses. If you are having a bad luck streak it is best to leave. No point throwing in good money after bad.