The Harmonie German Club is promising its biggest and most family friendly event yet, with carnival rides, competitions and cashless technology set to make an appearance for the first time.

Festivities kicked off Friday night with the traditional tapping of the keg. Saturday and Sunday will offer live performances and amusement rides including water walking balls, jumping castles, bungee jumping trampolines and No Limit, a thrill ride billed as the world's most extreme.

Oktoberfest Canberra marketing and events manager Daniel Rawson said the hungry and thirsty would be well-catered for, with almost one tonne of pork knuckle, 5500 sausages, 3200 pretzels and 150 kegs of German beer among the delicacies on offer.

And all of it will be on available without the headache of fumbling through notes and coins.

"For the first time we're also going to make it a 100 per cent cashless event," Mr Rawson said.

"You top up your smart card, the card holds money and to get food you swipe the card, to go on rides you swipe the card.

"This way we can understand what people like the most, what people eat, what's the most popular drink, [and] it builds a database for us to create a bigger event next year."

Over 18s are invited to the Oktoberfest after party Saturday night and Sunday will feature a German market and free slushies, popcorn and face painting for children.

Mr Rawson said organisers had made a concerted effort to better involve kids in the festivities in the face of declining attendance.

"There's lots to see and do over the three days," he said.

"We're really aiming to make Sunday a really good Sunday session for the family."

The three-day event may well be the last held in Canberra with organisers warning skyrocketing costs may see Oktoberfest moved to Queanbeyan.

"Hopefully with the awareness we put forward with the media the government can see to run an event there's so many costs involved," Mr Rawson said.

"Hopefully they can bring those prices down next year."

Oktoberfest will be held at Budawang Pavilion, Exhibition Park, Saturday and Sunday.