Bingo Payouts & Prizes
Bingo payouts typically consists of cash which can start from as low as $50 at a small bingo hall, and rise all the way up to $1 million or more in a high-stake bingo game at a casino, or reputable online bingo site in the United States. Cash prizes can be further categorised into progressive jackpots and pre-set jackpots. We explain what this is and provide an example for each below. However, bingo payouts are not only limited to cash prizes. Some of the other rewards can also include a car, travel expenses and even novelty prizes.
For decades, traditional bingo was played in a live setting in a casino or bingo hall. Today players are able to play bingo online and win real cash. To play bingo for real money in the US, you must access an online casino that offers the game. We’ve listed a few of the best casinos below. Choose any one of them to start playing bingo today.
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Jackpots in Online Bingo
There are two types of jackpots found in online bingo games: progressive jackpots and pre-set jackpots. Both offer great bingo payouts as well as additional opportunities for players to win real money, over and above the standard bingo prizes.
The general definition of a progressive jackpot describes prize money that accumulates over time and doesn’t stop until the jackpot is won by a player of that specific game. In this case, the jackpot starts at a certain amount and increases every time a player buys a bingo ticket. This particular jackpot is offered for 90-ball and 75- ball games (this means US players stand a chance at winning this jackpot). To win, you must match a certain number of balls called out during the game. Progressive jackpots vary depending on where you play and which online bingo site you use. Bingo sites usually create a number pattern on their respective Backoffice well ahead of every game, which will be the numbers required to win in that specific seating.
For example, a bingo site could set the jackpot at 45 numbers, and the starting progressive jackpot amount at $5000. To win, you need to match all 45 numbers in 45 calls or under. When the jackpot is won, its prize money will revert back to another starting amount, and the same process repeats itself.
Pre-set Jackpots are amounts that are pre-specified before the start of each game and are fixed. This means that the amount will not increase and is not affected by the amount of bingo tickets bought or participants in the game. Every number callout is tied to a specific jackpot amount. To win this jackpot, you need to match every number on your bingo card. Have a look at some of the examples below:
- If you call bingo on 42 numbers you win the jackpot worth $25 000 (42 numbers being the pre-set amount required to win the jackpot)
- If you call bingo on 43 numbers you win $20 000
- If you call bingo on 44 numbers you win $15 000
- If you call on 45 numbers you win $10 000 (this signifies the lowest probable callout to qualify to win a jackpot amount)
- If you do not win one of the larger prizes but call bingo between 46-75 numbers, you could win $5000.
Types of Bingo Payouts
Most online bingo sites offer cash money as bingo payouts. Although other sites may offer additional reward options. The money is transferred digitally to either a credit or e-wallet service.
Bingo Deposit Methods
In order to win money, you often need to give money. Likewise, to play bingo online, you’ll first need to deposit or wager a certain amount into the account of your bingo site. Players are offered multiple payment options and are able to choose a method most suited to them. Most online casinos that actually pay out require that you make a payment after registering your personal account.
How to Withdraw Bingo Payouts
Withdrawing your winnings can be a complicated task, as there are various terms and conditions to consider. But, payouts are usually offered in various currencies including the US dollar, British pound, Euro, Canadian and Australian dollar. If you happen to live in a different part of the world, you are given the option to convert your winnings to the currency used in your country during the transaction phase. Visa, Maestro, Neteller, Diners Club International, or cheque holders are some of the accepted withdrawal methods
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