People who like classic games will likely be interested in learning about the best bingo online payouts. While the entertainment and social aspects of online bingo are a major attraction, for most players, the hope of getting a massive payout is the major incentive.
Bingo payouts are never static as they can vary from a few dollars to hundreds and even thousands if you are lucky in a big bingo game. However, there are a couple of things players should know about bingo payouts before they play. Though it may seem random to an observer, there are some very strict rules governing how much an online bingo site must pay their players and the amount they can keep for themselves.
Here you will learn about how the best online bingo payouts are determined, as well as other online bingo payout details to give you the best experience.
What is online bingo RTP and how does it determine the best online bingo payouts?
When you do research into free no deposit bingo payouts, you’ll surely come across the word RTP. The term RTP is an acronym for Return to Player, and it is what dictates the wager percentage that will be paid to bingo winners. When you compare different RTPs, it becomes easy to see what games are the most rewarding.
The RTP of a bingo game or an online casino is what determines the profitability, both for the player and for the bingo site. Different casino games come with different RTPs, and bingo games tend to come with a lower RTP than online slots.
There are many factors that determine online bingo RTP, including the price of tickets, the number of bingo tickets sold, as well as the jackpot and payout structure. When selecting what bingo game to try out, RTP can be a deciding factor. A bingo game with a high RTP will potentially be more profitable and offer the best online bingo payouts.
How the best online bingo payouts are calculated
While the RTP is a big factor in the size of one bingo game’s payout, it isn’t the only factor that is involved. Bingo games online payouts always depend on a number of different factors:
The minimum guaranteed jackpot: If there is a minimum guaranteed jackpot for a bingo game, it means you’re assured of winning at least a specific amount, but there’s a chance to win more. Speaking generally, the greater the cost of bingo tickets, the greater the guaranteed jackpot. Casino slot games at Umbingo also carry high jackpots!
The number of tickets sold: For most online bingo games, the greater the number of tickets sold, the greater the overall payouts. That means that the best bingo payouts in games like these are fixed by the amount spent on tickets in every game.
How many prizes there are: Asides from the main prize, there are usually smaller prizes given to the first player to cover one line, or two lines, etc. The number of smaller prizes available can equally impact the size of the major payout. The higher the amount of smaller payouts available, the lesser the main payout will likely be.
Progressive Jackpot: If an online bingo game has a progressive jackpot, then expect to have a slightly smaller main prize pot because a certain amount will be deducted from the stake and added to the progressive pot.
Other factors that may impact the size of the best online bingo payouts
There are some other factors to search that may cause your online bingo payout to end up smaller than you might expect. These include:
Wagering requirements: Thes are mostly common at online casinos, but they also exist on bingo sites. When players claim online bingo promotions with a wagering requirement, they need to spend a specific amount, often a multiple of the value of the promotion, before any winning can be withdrawn. If a player gets a good payout under such circumstances, you may have to spend a fraction of it to fulfill the wagering requirements before cash out is possible.
Final thoughts on the best online bingo payouts
Online bingo games have shown the online casino world that they will remain relevant for a long time. However, a lot of individuals are not looking out for massive wins because they seem hard to come by.
Knowing the factors that determine the best online bingo payouts may provide a better understanding of how payout works. If you wish to explore more online casino games, or play free online bingo, you can do so anytime on Umbingo.