All about Live Bingo Online Winnings
What is Live Bingo Online payout?
Online Bingo may seem to be a very attractive prospect. But before you play the game, you should know about the live bingo online payouts.
Bingo payouts from winners can sometimes be a damper as the winning amount can be unexpected and surprisingly meagre. Yes, it does happen thus when the winning is split equally amongst a large number of winners. Sometimes the winnings can climb up to hundreds and thousands too. When the game becomes favourable, it is not the technique or agility of the player but luck playing the hand.
The game seems to move with the participants’ moves to an observer or the players. Although it appears random, the exercise is controlled by specific rules. It is pre-decided how much the play bingo games online site can contribute towards the winnings and how much to retain for themselves. Factors also affect the live bingo online payout process of the winnings. So much so that sometimes, after the cuts, the winnings are reduced to a mere trickle from the cascade you were anticipating/ dreaming of.
How are Bingo Games Winnings Calculated?
When playing bingo game online with friends, you must remember that calculating and settling on the jackpot amount depends on the type of game involved. If 75 ball live bingo online game is in progress, a 5 x 5 grid is in place, and the players need to create a pre-decided pattern to become the winners. The first player to complete the pattern becomes the winner in this game. The 90-ball Bingo stands differently. In this case, the players have to make lines. Here the chances of winning are three-fold as there are three or more prizes to be won. Although the chances of winning are increased, the jackpot amount is reduced.
Types of Live Bingo Online Jackpots
Usually, the jackpot of a standard bingo game is decided according to the number of players and the ticket price, or a winning amount is guaranteed. Some other types of jackpots are:
- Fixed jackpots
A fixed jackpot is always available despite the number of winnings. In a 75-ball game, players can claim it as soon as they generate the specified pattern. Whereas in the 90-ball game, the players must get a whole house within a certain number of balls to win the game. In the case of a fixed jackpot, the winning amount is shared equally amongst the winners. If playing online, the amount is credited to the registered account.
- Progressive jackpots
These jackpots are much-much bigger. The casino operators decide the jackpot according to the previous day’s sale of tickets, and they set the funds every day late at night. Accordingly, the higher the sale of tickets, the bigger the jackpot becomes. But after winning, the jackpot is reset once again. To win the progressive jackpot, the players need to get a full house within a certain number of balls. In the ‘patterned game’ (75-ball), players can claim the reward once the ball count is met.
- Community jackpots
A community jackpot is an alternative form of a progressive jackpot that distributes the winnings. The players who trigger the jackpot are paid a pre-decided percentage of the prize money, and the remaining amount is distributed among the players who purchased the tickets to the winning game.
- Progressive side games
The jackpot is calculated differently according to the amount contributed by the operator and is not based on stakes in the game.
About the Live Bingo Online Jackpot Amount
Since online bingo is a business, the operators need to continue offering clients services. They need to keep a part of the sales from selling the tickets and put it into the business to run it smoothly and not distribute the entire amount amongst the players. The difference in the amount that different bingo operators keep for themselves varies according to the business size. The older and established websites allow larger prize winnings because their businesses are more affluent and larger. Thus, they benefit from economies of sale. Taking away a mere 2% or 3%of the ticket prices will suffice for them to flourish, while the smaller and newer bingo operators may need to keep up to 70% or more to maintain the business.
Live Bingo Online Payout/ Winnings – Factors
- The cost of the ticket
The ticket price is a major factor in determining the prize amount, and the establishment will utilize part of the ticket sales to cover its overhead expenses. A major portion of the total earnings of a previous session goes towards the running jackpot. It must be understood that hotels and casinos arrange bingo tournaments where they charge high entry fees. These costs are part of the package, where guests are provided with a specific number of bingo cards or tickets per session.
- Guaranteed Minimum Payout
Large-scale bingo events offer a minimum guaranteed jackpot. Any winner of that session can win this jackpot. If the number of participants in that session is more than anticipated, the jackpot increases. Various bingo sites or events maintain varying minimum bingo payouts. Events held in cities like Las Vegas offer large guaranteed payouts. Bingo halls that function regularly do not offer a minimum guaranteed prize, and their payout is decided considering the final ticket sale of a session.
- Number of Players and Tickets in Play
Since the jackpot amounts depend largely on the sale of tickets, the number of participants influences the game’s payout. Therefore, the number of players influences the number of active tickets. If the number of players in a session increases, so will the number of active tickets. If a minimum number of tickets are required in a session, then a small number of players can be found in many active tickets.
- Prize Pool Tiers
Some bingo games provide multi-tier prizes to the winners. In such cases, the jackpot is shared by more than one winner. The first person to complete the pattern on his ticket gets the top prize. Those who complete the pattern after him are given low-tier prizes. The first winner gets around 50% of the prize pool, while the second and the third winner split the remaining 50% in a 3:2 ratio. Without a multi-tier prize pool, the first person with a complete ticket shouting bingo is given the full jackpot.
Various Bingo Methods
- Tippett’s Bingo Method
Named after the famous English statistician Leonard Henry Caleb Tippett, this method of playing Bingo states that the longer a bingo game continues, the likelihood of the balls being closer to the median number increase. For 75-ball bingo, the number is 38, whereas, for 90-ball bingo, it is 45. In direct contrast, the shorter the game, the higher the chances of the numbers on ends of the spectrum getting called.
- Granville’s Bingo Method
Granville was a mathematician whose predictions regarding investment were accurate. His method focuses on putting even and odd numbers on the card. He advises that there should be a balance between the presence of even and odd numbers, between high and low numbers, and between numbers ending in 1, 2, 3, and 4. According to the concept of probability, sooner or later, equal numbers of even and odd, low and high numbers, and other factors will gather, and the chances of creating a winning combination may occur.
Tips to Improve Bingo Game Online
- Do Not Chase Losses
- Max Out Your Bingo Cards
- Play When There are Fewer People
- Look for Bingo Promotions
Playing bingo game online with friends can be very enjoyable and satisfying. If you use the tips and strategies in this article, your game will improve, and the chances of winning a live bingo online game will increase. If you bingo games online for real money it will not only be enjoyable but might prove to be profitable too.