Have you heard about the online bingo payouts? If the answer is negative, then you are in the right place. Get ready to dive a little bit more in-depth and learn all about the online bingo payouts, thus, get the most out of the whole experience.
Having this established, here you will go through this easy guide that will help you understand every aspect of the online bingo payouts. So, let’s get right into it.
Online Bingo RTP
If you are a fan of online bingo games, especially if you have been searching for online bingo payouts then you have come across the term RTP. This stands for Return-to-Player percentage that indicates the total betting amount that is paid to players who are winners in a specific bingo game.
Within different bingo games, players will notice that the RTP might differ. This indicates that different online bingo games determine the actual profitability for both the player and the online bingo site. Just by exploring the games’ RTP, you will get a chance to make comparisons between games that are available on the online bingo site, thus, determining which one offers the best Return-to-Player percentage.
This implies the fact that each online bingo player has to be able to choose a specific bingo game that offers the highest RTP percentage, thus, ensuring handsome online bingo rewards. To understand the importance of online bingo RTP we can explore the following example.
You have found an online bingo game that offers an RTP of 95%. This implies the fact total of 95% of the money that is gathered by wagers will be repaid to players, whereas, the remaining 5% is going to be retained by the bingo site.
Important Online Bingo RTP Factors
Because online bingo games tend to have a lower RTP percentage, several factors weigh in. Some of the most important ones include the overall price of the bingo tickets, the actual number of sold tickets, as well as the jackpot, and the overall payout structure.
The average RTP for a 90-ball bingo ranges around 80%, while 75-ball bingo varies between 70% and 85%. All you need to know here is that an online bingo game that has a higher RTP can be more profitable, so remember to perform a detailed online bingo game check before you start playing.
The Calculation of the Bingo Payouts
The actual bingo payout depends on several different segments, besides the importance of the RTP factor. This implies the fact that when the process of calculation happens, bingo payouts depend on the minimum guaranteed jackpot, the number of purchased tickets, the overall number of prizes, and the progressive jackpots.
· The Minimum Guaranteed Jackpot
This means that when playing an online bingo game with a minimum guaranteed jackpot feature you are in the run to win at least the guaranteed amount. The actual increase of the guaranteed jackpot depends on the overall cost of the bingo tickets.
· The Number of Purchased Tickets
Within the majority of online bingo games, the higher the number of purchased tickets indicated the increase of the overall bingo payout.
· The Number of Bingo Prizes
When playing online bingo games, the player gets a chance to explore numerous smaller prizes that are independent of the main prize. This implies the fact that in a 1tg game, the main prize is smaller to allow extra winners to get 1tg at the end of the game.
· The Progressive Jackpot
If you play an online bingo game that has a progressive jackpot feature, the main prize pot will be smaller. This is the case just because a certain amount from the stake money is added to the progressive jackpot.
Other Factors That Impact the Size of the Bingo Payout
Besides all of the things that we have explored thus far, there are additional factors that you will have to take into consideration that have to power to affect the size of the payout. These factors include:
· Withdrawal Limits
This is where the online bingo site sets limits on how much a player can take out from their account. To avoid these withdrawal limitations, you have to first check the complete terms and conditions that the site provides.
· Wagering Requirements
Even though wagering requirements are common for online casino sites, they can be seen at online bingo sites as well. Here, players are required to spend a specific amount after claiming a specific site promotion. This implies the fact that you will need to spend some amount of your winning to meet the wagering requirements so that you can cash out your prize.
· Cap on Winnings
If you are playing free bingo credits, which are usual for a no-deposit online bingo promotion or a welcome offer, your winnings can be capped. This has the power to limit your overall payout, so make sure that you are well aware of the terms and conditions of the site you are playing on.
The Bottom Line
When playing your favorite online bingo games, make sure that you enjoy the time you spend playing without needing to keep your focus on getting specific online bingo payouts.