4/10/2022

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Bingo may not compare to slot machines when it comes to big jackpots. However, this game can indeed deliver huge wins.

Case in point, Soraya Lowell once won a bingo jackpot worth £1,167,795 in 2007. Most bingo jackpots don’t quite measure up to this one, but they can deliver five or six figures.

If you’re a bingo player who’s interested in winning big, then you’ll definitely want to check out the following advice. These seven tips cover how to improve your chances of getting a bingo windfall and/or and preserving your money until you’re able to do so.

1 – Play at the Right Parlors and Bingo Sites

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Huge bingo prizes aren’t waiting around every corner. Only certain sites and land-based parlors offer large jackpots.

Therefore, you must do some scouting ahead of time before chasing the biggest payouts. If you don’t feel like traveling, you can simply stick to online bingo.

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The internet version gives you an opportunity to move between sites with just a few swipes or clicks. You can go from room to room in pursuit of large prizes.

Of course, brick and mortar parlors shouldn’t be ruled out either. After all, you can find some of the largest bingo payouts in history at the land-based establishments.

In either case, you should look for progressive jackpots, which increase with every bet that players make. Assuming the jackpot goes unclaimed for a while, then a progressive jackpot can reach epic proportions.

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2 – Wait for Progressive Jackpots to Grow

Bingo jackpots don’t normally start out being worth six or seven figures. Instead, they must grow through bets placed.

Progressive games take a small percentage out of each wager. If a gambler purchases a $1 card, for example, the operator may take between $0.02 and $0.04 to fund the jackpot.

You can play these games at any point regardless of how much the top prize is worth. However, you might consider waiting for jackpot payouts to grow before playing.

Here’s an example:

  • An operator seeds a jackpot at $10,000.
  • You wait until the prize grows before betting on the game.
  • You begin purchasing cards when the jackpot is worth $25,000.

The angle here is to make your bets count for more. If you remain patient, you might as well play a certain game when the jackpot is larger rather than when it’s initially seeded.

3 – Take Advantage of Better Expected Value

Continuing off the last point, higher expected value (EV) is another benefit you gain by playing for larger progressive jackpots.

EV refers to how much money you can theoretically expect to earn back based on your bets. In most cases, you’re facing negative EV when considering the operator’s cut.

For example, you might face an 8% house edge when the jackpot is first seeded. But your EV grows along with the top prize.

Here’s a scenario to explain:

  • An online bingo site seeds the jackpot at $50,000.
  • The house advantage at this point is 7%.
  • The progressive payout eventually grows to $400,000.
  • At this point, the house edge shrinks to 2%, thus, giving you higher EV.

When a jackpot reaches a certain amount, it can even provide positive EV. If this happens, you’ll be making a theoretical profit on every card you buy.

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Of course, much of the positive EV is tied to the jackpot. Therefore, you eventually need to win the top payout to realize your profits.

However, you might as well play bingo with a theoretical advantage versus not doing so. This situation can happen when a progressive prize continues rising without anybody managing to win it.

4 – Bankroll Yourself for Success

Playing progressive bingo games can be expensive. After all, much of the RTP is wrapped up in the jackpot. If you don’t manage to win the top prize, then you’ll miss plenty of the payback.

Long story short, you want to ensure that you have an adequate bankroll before playing progressive games. Having a large enough bankroll allows you to last longer until you finally (and hopefully) win a huge payout.

The size of your starting bankroll largely depends upon your desired stakes and game. You want more money if you’re going to purchase more expensive cards and play larger jackpot games.

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Luckily, though, you can use a universal process for bankroll management. The main things you need to know include your average stakes and the typical RTP for games you play.

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From here, you can go about establishing a bankroll plan. Here’s an example on doing so:

  • You have a $1,000 bankroll.
  • Your average card cost is $1.
  • 1000 / 1 = 1,000 units
  • You play games with an average RTP of 95%
  • 1,000 x 0.05 = $50 unexpected losses
  • On average, you’ll lose 50 units for every $1,000 wagered.
  • 1,000 x 50 = 20,000
  • Your bankroll theoretically last for up to $20,000 in wagers.

Bingo is a volatile game when compared to other forms of gambling. With that said, you can’t expect your bankroll math to work out perfectly.

By inputting your own numbers into the example provided above, though, you can quickly figure out a rough estimate on your bankroll’s longevity.

5 – Collect VIP Rewards and Bingo Bonuses

Bingo sites are much like online casinos in how they ensure that you receive rewards based on your play. Specifically, you can look forward to both VIP rewards and deposit bonuses.

As long as a site offers a loyalty program, the rewards will start coming in right away. You’ll earn loyalty points based on every card you purchase.

The operator determines how you can spend points. But cashback, which lets you exchange points for money, is a universal perk.

Deposit bonuses give you an opportunity to earn a match bonus based on your deposit amount. For instance, you may be eligible for a 100% match bonus up to $50 on your first deposit.

After funding an account, you need to satisfy rollover and other terms and conditions before cashing out. Rollover refers to a multiple of the deposit that you must wager to officially earn your bonus.

Some sites even feature bingo no-deposit bonuses. With a no-deposit offer, you merely need to register for an account to get real-money funds. Anything that you have left over after satisfying rollover is basically free money.

6 – Understand Bingo’s Volatility

Bingo is one of the few forms of gambling that’s as volatile as slot machines. It features a wide range of prizes, some of which are worth much more than your original stake.

Operators can’t afford to pay you every other round like with baccarat or blackjack. Instead, they must lower win frequency to make up for the jackpots.

As a result, bingo puts you through some long dry spells. You may purchase many cards in a row before hitting a big win.

You can better deal with this extreme volatility with a large bankroll. If you need help in this area, you should refer back to point #4.

In any case, the key is to be prepared for droughts. You must survive losing streaks before being able to win serious money.

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7 – Think Long Term

You may initially be attracted to bingo due to the big win potential. Again, some games offer progressive jackpots worth six or seven figures.

But rather than envisioning yourself immediately winning $1 million and building your dream house, you should think long term.

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Bingo is a game that rewards patience. You may not ultimately end up a winner in the end. But if you keep playing and sticking to a budget, then you might eventually earn life-changing money.

Of course, I don’t suggest looking at bingo as an investment strategy. With limited exceptions, it’s a negative expectation game that causes you to lose more money than you win.

Again, though, you at least stand a chance to make profits with this game. This is especially the case if you win a huge jackpot.

Long story short, you shouldn’t feel any rush to win now. A better approach involves mapping out a long-term plan and sticking to your budget.

Conclusion

Massive bingo prizes don’t hit every day, but they do exist in the gaming world. You have an opportunity to hit one of these windfalls with the right approach.

This main thing that you must do to win big includes playing at the right bingo sites and/or land-based parlors. Only certain operators feature life-changing money.

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Next, you should wait for the jackpots to grow. You’ll enjoy higher EV when playing for larger prizes and, of course, have a chance at more money.

Additionally, you want to take a long-term approach to chasing bingo jackpots. You most likely won’t win big right away, so you should be patient and remain true to your budget.

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