John Ford | January 19, 2021 | Updated on: December 30th, 2022
Bingo payouts can range from $50 in small bingo halls to $1 million when you’re in a high stakes game in Las Vegas. No matter the prize’s size, every player dreams about being lucky enough to be the first to shout out “Bingo”. Sometimes, you are that player.
In this guide, you’ll learn everything you need to know about bingo payouts, including how to calculate them. We also look at the biggest bingo payouts ever. Finally, we recommend some online casinos with the best online bingo payouts.
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Jackpots in Online Bingo
There are two types of bingo games when it comes to prizes:
- Progressive jackpots
- Pre-set jackpots.
Both of these categories offer you impressive bingo payouts. We go into more detail about how each type of game works below:
Progressive Jackpots
Progressive jackpots are prizes that accumulate over time. The cash prize accumulates until someone wins. So, the jackpot starts with a small amount and gradually increases as players buy bingo tickets.
Usually, a progressive jackpot is offered on 90-ball and 75-ball games. You will have to match the numbers called out to the numbers on your bingo ticket to win.
For instance, a bingo website could set the jackpot prize at 50 numbers, and the starting jackpot amount at $6000. To win, you need to match 50 numbers on your card.
When someone wins the jackpot, the prize money will go back to the starting amount.
Pre-Set Jackpots
Pre-set jackpots are prize amounts that have been determined before each game starts. Usually, these amounts are fixed. Therefore, the prize money will not increase, and it won’t be affected by the number of bingo tickets bought.
Every number that is called out is associated with a specific jackpot amount. So, you need to match every number on your bingo card to win this jackpot. For example, if you match 43 numbers, you will be eligible for a $20 000 cash prize.
Bingo Deposit Methods
As the old saying goes, “you need to spend money to win money.” So, before you can start playing bingo, you need to deposit funds into your gambling account. As a player, you’ll have multiple deposit options, and you can choose a method that works for you.
Withdrawing Bingo Payouts
If you have successfully deposited, there should be no issues performing online bingo withdrawals. When you are ready to withdraw your bingo winnings, you can head to the “cashier” section of the casino.
There, you’ll find various methods of withdrawing. It’s advisable to use the same withdrawal method that you used for depositing. These options range from Visa, MasterCard, Neteller, Skrill, and many others.
Your payment option determines how long you will have to wait for your winnings. You will also need to provide the casino with identity documents when you request a withdrawal.
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