Jackpots and Prizes in Bingo
The jackpots and prizes you can win in bingo vary. In smaller bingo halls, you can expect anywhere from $50 to $100 for winning the jackpot. However, in casinos and high-stakes games found on Native American reservations, the jackpot can be as high as $1 million. Keep in mind that the grand prize can be anything. You could win an all expense paid trip, a new car, or novelty prizes.
How much money is coming in will typically determine the size of the jackpot. A payout of 50 to 60 percent of what the house brought in is required in most bingo halls. Additionally, the amount of money paid out to the winners of a session or game is usually limited by local or state regulations. For example, in Georgia, the most a bingo hall can payout on a single night is a little over $1,000. However, some states allow higher payouts, like in Louisiana where the limit is $4,500 per session.
You may have heard of a progressive jackpot and wondered what it is. This type of jackpot is a prize that continues to grow until a player wins. Typically, the house will start the jackpot off with a nice starting point, such as $500. In order for a player to win the progressive jackpot, they will usually have to do so under extraordinary circumstances, such as winning a blackout game, every square covered, in as little as 49 calls from the caller. However, if no one wins the pot, the house adds more money to make the jackpot even larger. How much of an increase for each pot will vary, but around $100 is the average. This can continue over progressive sessions or even weeks until the jackpot has been won.
Occasionally, progressive jackpots can grow so large that the bingo hall will have to cap it in accordance with state regulations. This means that the jackpot cannot grow any larger and will stay the same amount until it has been won. However, some states have no cap, such as Michigan.
Due to its popularity, bingo has been able to expand to more rewarding games. One such example is high-stakes games, which have become an exciting phenomenon in the bingo world. There are a large number of bingo halls currently attempting to establish games that pay anywhere from $50,000 up to $1 million. These excessive jackpots have caused a large majority of hall owners to take out policies so they wouldn’t go under.
Some large jackpot games are set up as “step games”. A step game is where the game pays the winner a certain amount based on how quickly they win the game. For example, a player may win $50,000 in a game of blackout if they win in 49 calls. However, a player may win $100,000 if they win a game of blackout in on 45 calls. Due to the challenge involved with winning this type of game with such few numbers, it could be months before anybody wins the prize.
Super-jackpots are typically winnable during specific sessions. In order to win the massive jackpot, players usually have to get a specific pattern within a limited number of calls. Additionally, they may have to play another game, such as a selecting an envelope from a prize board or perhaps spinning a wheel.
It goes without saying that the odds of winning are very slim. It could be months or even years before the top prize is won. However, it is possible for someone to win the top prize in the very first game, of the first session, on the initial day the prize is offered.
When someone does win a super-jackpot in bingo, they don’t walk out with a check in their pocket. The balls used during the game are gathered and sent to an independent lab to make sure there has been no tampering while the insurance company will also review security surveillance tapes. Usually, within 48 hours, the check for the winnings is cut. If the jackpot is no more than $100,000, it’s possible that it will be paid out in a lump sum. However, larger jackpots are typically paid out in yearly installments.
Another way bingo halls can offer larger jackpots is through satellite bingo. This is a game that is linked via satellite through an independent company and played at different bingo halls simultaneously. Satellite bingo games offer prizes that are larger than those that could be offered by the bingo halls separately. Currently, only certain states have satellite bingo, such as Washington. Evening satellite bingo games in Washington have a top prize of $50,000.