Online Bingo Payouts
When you first start to play bingo, all of the statistics and information on sites can feel a bit overwhelming. If you want to know all about bingo payout rules in a simple format then check out our comprehensive payout guide below.
What are Payout Rates?
Payout rates can vary from site to site and they basically relate to how often you can expect to win from the site. The best payout bingo sites will display this as a percentage, which should ideally be in the 90s.
This can also be known as the Return to Player (RTP), which you can find on games as well as sites. Because it’s under 100%, the house has an advantage, meaning that they win more often than the individual. This might seem counter intuitive to players but it’s an average and doesn’t take into account big wins.
The house advantage and RTP are basically opposite to one another. So if a game/site has an RTP of 96%, the house edge accounts for that other 4%.
What Are The Payout Rates On Luckytouch?
The exact payout rate here will depend on which games you are playing with us. Overall we have that RTP in the high 90s that players will be looking for, but this will change based on the game. This means that you can expect to win often on our site, which is great news for players.
How Does This Compare To Other Bingo Sites
If you compare us to other bingo sites, you’ll find that we’re among the best online bingo payouts sites. We also have loads of information and are up front about anything you want to know about our payouts.
What Do These Percentages Mean?
The most basic way to think about what the percentages mean is to think of it as 100 times playing a game or site with the same wager.
Say you bet £1 on a bingo game with an RTP of 97% and do so 100 times, you can expect to win 97 times. Or if you did the same on a slot with an RTP of 90%, you could expect to win an average of 90 times, though this is just a guideline.
What's The Difference Between Bingo Payout Rates And Payout Rates On Slots And Instants?
We all know that slots and bingo are very different, so it makes sense that their payout rates are different too. The biggest difference that comes in is that bingo is competitive, whereas slots are just played by one person. This affects the payout rate for bingo because for every person that wins in bingo, other people lose.
Progressive jackpot games also skew the percentage slightly, as the winnings are generally much bigger than what you pay in. As one player can win millions in a spin of one of these games, the general RTP is lower. This makes sense, as if players won more often the jackpot amount would be lower.
What Other Fine Print Should Players Pay Attention To With Regards To Payout Rates?
There’s fine print concerning just about every aspect of playing bingo online and there are some details that apply to the payouts too.
The first that you should be aware of is that these are all averages, so can only be used as a guide. As slots and bingo games are randomly generated, the RTP is calculated based on what the average player can expect. Of course, outliers do exist and you may win much more or much less than what the RTP would have you believe.
If you’re playing with bonus funds, then you probably know a bit about wagering requirements. Because of the way the RTP fluctuates between different games, their bonus contribution changes too. Table games have a really high RTP so you’ll find that they don’t contribute as much to the wagering requirements, as you’re more likely to win on them.
There are other things that can affect your payout too, like identity checks, payment methods etc. These influence the actual payout process though, not how much you can expect to win or lose on the game.
Hopefully we’ve cleared up payout rates for you in this guide, remember that you can always get in touch with us if you need help with our site. We also have a lot of other helpful guides on our games and statistics, so have a browse if you want to become a bingo pro. We’ll see you in the lobby!