The entire aspect of players playing online bingo, is to manage to get their hands on some legendary payouts to pocket for themselves. That is the incentive and always will be. Therefore, surely there is a certain way to go about your online bingo gaming habits-right?
The payouts within online bingo gaming and online bingo sites can be variable and therefore never follow a certain rule, meaning you cannot predict the attitude of the payout scheme and frequencies. However, what you should know as a player, is that there is a certain degree of rules that dictate how much an online bingo site can actually pay you as a player within their site, in addition to how much the bingo can take out for their own needs and protocol. Your payout processing can be significantly reduced, depending on a few factors that afflict and ultimately reduce the amount that arrives within your bank account!
This in-depth guide will explain every detail and ensure you know how to get the most out of your bingo payout experience. After all, the more you know the better it is for you and your bank account!
What Is RTP Within Online Bingo?
RTP stands for the return the player percentage. It is used as a measure for the percentage of wagers that get paid to winners in the process of their gaming routine. This term is something you will see represented as a figure across all online slot games and many, many more bingo ventures. Using RTP to dictate whether you should play a game or not, is definitely the right way to go about it. Players can use the percentage as another way to gauge the games variance and ease when playing too.
Most players know that the RTP is used to determine the games profit margins for you as the gambler. However, it is also an indicator for the bingo site in question too. If you take a slot game like Fluffy Favourites (a bingo top pick and favourite), as an example, you will know that its RTP is currently at 95.2%. This suggests to the player that from a £100 worth of wagers, statistically a group of punters can be expected to gain £95.20 back. The remaining 4.8% is actually retained by the bingo site themselves. They keep that payout for themselves as profit! General bingo games actually give players even lower RTP rates, therefore definitely keep an eye out for these variances as usually they can range from 80% and even lower.
RTP in bingo can be effected by many factors-such as the number of players, the number of tickets sold within a game and thus the actual payout from each game. It is no stranger to find that the payout percentage therefore can change up a lot within individual bingo gaming options. A good example is from the typical 90 ball game within bingo sites. Their payout percentage is around 80% and the harder derivative 75 ball has even lower RTP values of around 70%. Meaning as a player, you will need to choose wisely and remember that the risk of the game is much higher as bingo sites will profit more from the RTP indicator.
How Will My Bingo Payout Be Calculated?
The next big question addressed, is how are the payouts calculated within bingo sites? This can differ for all the payout options available within game variants. These factors are from the use of a minimum guaranteed jackpot, the number of bingo tickets purchased, the prizes incorporated within the game itself and finally if there is the presence of a jackpot within the game that you have selected to play on.
If there is a minimum guaranteed jackpot present, this will mean players are sure to win at least a set minimum amount within their gaming pursuits. There is a chance of winning more, however that would entail that you need to buy more expensive tickets rather than those on a smaller rollers environment. If we are considering how the number of tickets bought can affect payout, then usually the more the tickets are purchased, the greater the overall payout can be for the lucky winner. Think larger costs of tickets, make payouts very much bigger to take away.
Prizes are another factor that tends to mix up payouts slightly. You will find that the greater prizes are being offered, that means the bingo have managed to bag more of the cash flow for themselves and put the reward in prizes. The payout will always be smaller and therefore not really satisfying as you would normally imagine a bingo payout to actually be. This is the slyest way for a bingo to get its way round from giving and having larger profit margins for themselves.
Progressive jackpots are the final catch in afflicting with your payouts. You will find that due to many of the players stakes being contributed towards the large jackpot, other minor wins will always be smaller as the majority is being put aside for the larger and singular win for one lucky player!
What Other Factors Affect Your Payout?
Other ideas that are mentioned within the bingo community for smaller payouts is the actual more technical aspects of the bingo platform. Wagering requirements, withdrawal limits and winning caps are other aspects on the side-lines that can mess with you and your money making payouts.
Withdrawal limits in a bingo site, can essentially make you wait before you can receive your winnings. Bingos can do this and set an amount that cannot be withdrawn over, meaning they can control cash flow better and will be leaving you as a player waiting around for your cash. Payments to players in instalments mean that they can profit greater as it isn’t likely for large winners every so often, so they can manage that huge deficit of one payment, into a cluster of them.
Wagering requirements are the most famous factors to come into play with your payout within a bingo gambling platform. Essentially you can win such great amounts of money, but if you win from the contribution of a bonus, you will need to wager the entire amount won i.e. play with it again until you have obliged the wagering multiplier itself. Let us tell you this isn’t easy, you are essentially at higher risk of losing it all due to you having to play with it all again….
The final factor to consider which can definitely be a bummer if you were not already aware of it, is the use of caps on how much you win. This is highly prevalent on no deposit bingo bonuses, meaning you are highly limited on what you can get out of free money bonuses sometimes. That why it is best to set the record straight before you play seriously. It would seem like such a disappointment if you managed to win a great amount, only to know you cannot have it!
Bingo payouts are what bingo players evolve around. We know that all those hours you put into playing, will definitely mean that you want something out of it. However, we do recommend that having fun should be the first and foremost priority, as after all it is what bingo is all about. Do not let the losses get to you, just live up the experience!