Best Online Bingo Payouts for 2022
There are many things to look forward to when it comes to playing bingo, and bingo payouts is certainly one of them. Other perks to playing bingo is the enjoyment it brings, as well as the fact that it’s a social game where you get to meet new people.
The kind of payout you can expect in a bingo game will depend on various factors and that is what we’ll be discussing in this guide.
- Factors That Determine Payout in Bingo
- Types of Bingo Payouts
- How to Calculate Bingo Payouts
- Bingo Payout Rates: RTP
- Top 5 Biggest Bingo Payouts
Best Payout Bingo Sites
Factors That Determine Payout in Bingo
The expected payout for every bingo game you play will firstly depend on the kind of game you are playing. Various types of bingo games exist and there may be more than one prize on offer for each. But majority bingo games only offer one jackpot prize for the person who manages to reach bingo first.
How much you win will also be determined by fixed factors. These factors include the price you paid for the ticket as they come in different price ranges. How much you win may able be affected by how many tickets are sold overall, and the number of participants for that session.
The factors mentioned above do mostly apply to bingo games facilitated in a bingo hall. The factors when playing bingo online might be different.
Types of Bingo Payouts
Bingo is a very simple game to play, but the different payouts available in the game isn’t as clear cut. The Bingo payout structure will depend on the type of game you play. Here are three of the most common bingo payout structures found at casinos today.
Fixed bingo payouts is the main cash prize offered at bingo games. The money is generated from direct ticket sales. Bingo tournaments or social bingo events are known for having fixed payout amounts.
Progressive jackpot payouts are the biggest type of prize you can get from any given bingo game. The prize money here is collected from every wager placed on a particular game at every casino within a set network. These jackpots are triggered at random, but you must have a winning bingo card should the jackpot be triggered during your game.
Most casinos require a full house bingo ticket to be eligible for a payout. This means that you must cross off every single number on the 30-number card in order to win. This may seem more possible when you’re playing 90-ball bingo because there are more balls in play (thus the chances of you getting most numbers are higher). Your chances are very slim when playing 30 ball bingo for example.
Bingo games that offer pre-set cash prizes are a lot more generous compared to the other payout structures. Here, more than one winner will receive a payout. So, you will have the main winner who will receive the biggest payout, while the 2nd and 3rd runner up will also receive a payout buy of a lesser amount. The main winner will be the player who managed to successfully complete a winning pattern first.
How to Calculate Bingo Payouts
You might want to know how to calculate your potential winnings and have that decide whether you want to play bingo for real money or not. Fortunately, the formula is quite simple.
Bingo halls take the money collected from every ticket sale for a particular session and divide it into two cash amounts; 1) the prize pool given to the winner and 2) the bingo hall’s rake which is like a commission fee or house edge if you will. If you’re playing a game where a progressive jackpot is active then a portion of the overall ticket sale money will be deposited into that pot as well.
The rake that will be collected depends on the venue. But, it usually ranged between 10% and 35% of the overall money collected in ticket sales. With this information, you will be able to calculate roughly how much you can expect to win per session.
If the bingo hall sold 50 tickets that day, at a cost of $3 each, the total money collected from sales will be $150. Now, lets assume that a rake of 15% applies – 15% of $150 = $23.50. Therefore, $150 – $23.50 = $127.5. (which will be the cash prize for that game).
If there’s a progressive jackpot in play, another amount must be deducted from the cash prize. Progressive jackpot rates vary between 1% and 5%. In this case, you can expect to win $124.95 max.
Bingo Payout Calculator
Online casinos simply this process for you. But, bingo payout calculators aren’t offered at every casino so consider yourself lucky if your chosen casino has one.
The calculator basically does the math for you. All you have to do is insert all the values and click the calculate button. The answer you receive should be more accurate than the tally you would have gotten if you made a manual calculation.
Bingo Payout Rates: RTP
A payout rate refers to an amount you can expect to win during any given game over a certain period of time. This expected value is presented by the return to player percentage (RTP) which you may or may not already be familiar with. So, in the case of bingo online, if the RTP at your casino is 90% for example, it means that over time you can expect to win back $90 from every $100 you spend buying bingo tickets. Therefore, the higher the return to player percentage, the better your chances of receiving a payout.
The RTP in itself isn’t a one fit size all, even this depends on the game you are playing and it may even come down to the software provider that developed the game, as well as the individual casino.
The percentage for bingo games is fairly lower than that of slot or video poker games though. For slots, the RTP averages between 90 – 98%. For 90 ball bingo, it averages at about 80% and for 75 ball bingo, it averages at about 70 – 80%.
Big Payout Bingo Jackpots
Special bingo games offer a jackpot prize that’s usually bigger than the overall prize. To win the jackpot prize you must reach bingo within a specified number of calls. You must be super lucky to get all or most of the numbers being called out during the given time. Certain jackpots are like fixed prizes that are capped at a certain amount while other jackpots are progressive meaning it grows and grows until someone wins.
Something called community jackpots also exists although not every player is a fan of its payout structure. When you are playing a bingo game where a community jackpot is up for grabs everybody gets a piece of the pie. This means that if you are playing and another player wins the community jackpot, every other participant gets a bingo payout, not just the actual winner.
Top 5 Biggest Bingo Payouts
For interest’s sake, we’ve compiled a top 5 list of players who have bagged some of the biggest jackpots while playing bingo. The bingo payouts are huge and serve as more than enough reason to try your luck today.
|John Orchard||£5.9 million||Factory worker|
|Lisa Potter||£1.3 million||Unknown|
|Soraya Lowell||£1.2 million||Housecleaner|
|Christine Bradfield||£1.1 million||Mother of 2|
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