Since there are different kinds of bingo games, you can expect different kinds of bingo payouts. These can vary from a few dollars to hundreds of dollars or even up to thousands, if not more. As a result, you should understand the bingo payouts to know your returns from each game.
Online casinos have bingo payout rules on how much they can pay out winners and keep for themselves. Find out about all this and how to calculate your bingo payouts in our guide below.
Return to Player, RTP is also known, representing the percentage that you will get paid out from your bingo wagers. You can compare the RTP of different games to find the one that has a good RTP. This can help you find the game that will be worth playing for real money. What’s more, it will tell you which game is more profitable.
Unlike other casino games, online bingo games tend to have a low RTP that can be anywhere between 70% and 85%. The RTP is affected by the price of tickets, tickets sold, the jackpot and the payout structure.
When you choose which online bingo game to play, choosing one with a high RTP is always good. It will most likely be more profitable. Since the different games have their RTPs, you can check before you play or choose a game.
If you are interested in playing 90-ball bingo, you can expect a steady RTP of 80%. The 75-ball bingo can be anywhere between 70% up to 85%.
How to Calculate Bingo Payouts
If you are interested in bingo payouts, you will want to know how they are calculated. This will give you an idea of what your expected returns are from each game. The bingo payouts are affected by various factors that can help determine the payout. See the factors below:
Guaranteed jackpot – most bingo games will have a minimum guaranteed jackpot, which you will most likely be able to win. However, this means that there is a possibility to win more. If a ticket costs more, the jackpot will likely be bigger.
Number of tickets purchased – the number of tickets bought for a specific ticket can also affect the overall payout. The payout of some games is determined by the money spent to buy the tickets for each game.
The number of prizes to be won – the great thing about bingo games is that there are different prizes to be won. These prizes can be awarded for various reasons. The main payout can be affected by the number of small prizes for each game. If a game has smaller prizes, the main payout is more likely to be small.
Progressive jackpot – some bingo games feature progressive jackpots. The main prize for the game will be smaller because a certain amount of the prize will be put towards the progressive jackpot.
Factors that Impact Bingo Payouts
You will get a payout from the game that you are playing. However, that does not mean that you will get the exact amount when you get your payout. That is because certain things will affect your payout. See below for the things that can affect your bingo payout.
Limit on Winnings – some casinos can put a limit on winnings. The limit can apply to free bingo credits from a no deposit bonus or other bonus offers. This means that the casino can limit how much you can withdraw from the winnings you made. So, it is important to make sure to read the terms and conditions before claiming any bonuses.
Wagering Requirements – these apply to the bonuses and promotions you would have claimed from the bingo site. You will have to use your bonus and, in some cases, your deposit amount a specified number of times before you can make a withdrawal. If you happen to get a good payout, you might have to wager it before making any withdrawals.
Withdrawal Limits – bingo sites set limits on how much you can with per day, week and month, and this can affect how much you get paid out from your winnings. This means that you are likely not to be able to get your whole jackpot win in one withdrawal. So, which means you will get your bingo payout in instalments over months or years, depending on the amount. You will find out about the limits by reading the terms and conditions.