Bingo Prizes: Win a Million, Win a Car, Win More!
Fancy going to the Bahamas? How about buying your dream house with a million-dollar worth of winnings? Play bingo and you can have any of these bingo prizes and more!
Bingo prizes are pooled from all the cards bought from the start of a game until someone wins it. They get bigger and bigger and don't stop getting bigger until someone comes up with a winning pattern.
In some small bingo halls, bingo prizes run only up to about a hundred dollars or less. Larger rooms have bigger jackpot prizes, with some jackpot money running in hundreds of thousand dollars.
Because bingo progressive jackpot can just keep growing and growing, some states have to cap it and bingo rooms grab insurance policies to avoid going bankrupt!
The required return rate by states in most bingo rooms are between 50% and 60%. Then again, bingo prizes are regulated by state laws. The maximum amount of prize money to be given away depends on state jurisdiction, and this varies from state to state. For instance, in Louisiana, bingo prizes per session must not exceed $4500. In Georgia the amount is even much lower at only $1100 per night. Still there are some states like Michigan that don't put a maximum limit on bingo prizes.
It is not uncommon though for online bingo rooms to give non-monetary bingo prizes like cars, and travel trips.
Again, bingo prizes are taken as a percentage value of the total cards sold. Some bingo halls, however, "seed the pot." They give a starting sum and let it grow more with each card sale.
Where bingo prizes are regulated by state law, the prize remains at its maximum level until it is won.
Bingo prizes are awarded to players who are able to finish first with a pattern like diamond, four corners, diagonal, horizontal, and vertical patterns. But the big jackpots are often reserved for a blackout. In a blackout, all numbers on the card must hit.
Some blackout jackpots are established as "step games." Here, the amount is dependent on how fast the player has finished a blackout. For instance, if the player had a blackout in 49 drawn balls, the player wins $100,000. If the player got it in a fewer number of draws, say 45 draws, a bigger amount will be given.
Bingo prizes are said to be small compared to jackpots from casino games like slots and poker. But this is, it seems, true only in small bingo halls. In large bingo halls, bingo prizes are pretty competitive with other casino games for some bingo halls giving a jackpot prize of $1 million! And some bingo rooms even give away brand new cards and travel trips!
