Bingo Winnings – How Is Payout Calculated in Bingo?
How is payout calculated in Bingo? Most gamblers have never had to understand how bingo winnings are paid out or calculated in a game of bingo. Knowing how to determine bingo prizes ca help you to improve your overall bingo strategy. One of the most popular questions posed recently is how to play online bingo with friends. Largely because we have been living through a pandemic that has separated us from our friends and loved ones.
Nevertheless, technology has come to the rescue and given us a way to connect with our friends through online bingo. There are various ways to play with your friends online.
Firstly, you can simply sign up to one of the top-rated bingo online sites that we recommend to play even live bingo games for real money. However, if you’re trying to set up your own bingo game also you may want to know how bingo prizes or payout are calculated.
Bingo Payout Calculator – How Are Bingo Prizes Calculated?
If you are familiar with how poker pots are created, then you will understand the principle of how bingo prizes are calculated. The pot or prize pool of bingo is created from the number of players participating in a bingo game or rather the bingo cards sold.
Depending on the gambling laws wherever you live, some bingo halls may even add to that prize pool created by the bingo cards sold. However, in some places the laws may prevent bingo halls from doing that as a way to curb problem gambling.
How to Calculate Bingo Winnings?
So simply put your prize pool comes from the number of cards bought by the people participating in the game. So how do you then calculate how much each person gets depending on their bingo card results?
In most bingo games especially a 75-ball bingo game where there’s a five-by-five grid there’s usually only one winner. That is because the winning patterns are already predetermined and not all cards have the same pattern. However, in a game like 90 ball bingo game players cross out lines of the numbers that are called out. So, there are bound to be multiple winners.
Bingo Prizes – Fixed and Progressive Jackpots
You can create a fixed jackpot when you have a fixed amount from the prize pool which is paid out to the winner. If there are multiple winners the prize is split amongst them equally. If you are playing a progressive jackpot bingo game the prize pool keeps on increasing as more people participate until someone wins.
So, if you are playing online bingo with friends and no one wins the first-round you can keep playing and keep adding to the prize pool until someone wins. At a bingo hall whether there is a fixed jackpot or a progressive jackpot is dependent on the laws in that area where the bingo hall is. In some places in America bingo halls are not allowed to pay out more than $1200 whereas some prizes higher than that or even progressive jackpot bingo games.
If the idea of creating an online bingo game with your friends on Zoom seems like too much admin for you, we have an alternative. As we may have mentioned earlier, we do recommend some top-rated online bingo sites which have real money bingo games with fixed and progressive jackpots. Sign up and try your luck today.