DOES 1 + 1 = 2 WHEN CASHING OUT AT ONLINE BINGO SITES
Like most players trying to hit a big pay-out day by playing Bingo online, I started wondering how fast can I get my money if luck comes my way to hit a Jackpot. If you take a moment and try to understand the wording and cash-out limits you end up either confused or the site lack information, leaving you with additional questions on this matter. I recently stumbled upon an article that did a great job analyzing the cash pay-outs concerning bingo sites and decided to do a little research on my own before absorbing the whole article “as is”.
The article that caught my attention compares the cash-out limits of leading software providers and points out to distinct differences between them. This comparison is beneficial to new players searching through different sites and playing on software platforms without knowing the withdrawal limits on various bingo sites. It is much easier to comprehend when understanding how each software operates.
CASH-OUT EXAMPLES ACROSS WEBSITES
Let’s take a sample by entering . There are various sites listed and I have chosen a sample that includes different pay-out options, but they represent the majority of them out there:
Bingo Site 1: £2000, but larger request may be made by contacting the accounts department
Bingo Site 2: Payouts can be requested at any time for any amount not exceeding the available account balance
Bingo Site 3: Daily limit £1,000, weekly limit £2,000 and monthly £3,000
Bingo Site 4: Withdrawals under $3,000 will be paid out in lump sum. Withdrawals higher than $3,000 will be paid out in increments of $3,000 based on agreed upon terms between the player and the site
Please note that sites change their pay-out options regularly and that this sample should only be used as an illustration of the vast differences.
Looking at the sample above we see the differences in the wording used in the terms and conditions on different sites. Now let’s look closer to what the cash-out limits are on each site and determine if you understand it without emailing the sites support for further explanation.
Bingo Site 1 says the limit is £2,000 and a few questions pop into mind when reading this. Is it 2,000 per transaction? Can I make numerous transactions per day? Is there a monthly limit? This is common wording and usually, the player has a few questions. If the site does not list any restrictions other than the amount withdrawn, then it is safe to conclude that it is related per transaction. Usually larger withdrawals will go through the accounts department and might require additional verification explained in the following paragraph.
Bingo Site 2 only states the no limits on the number of transactions or amount as long as you have the money in your player's account. Reading further, their terms and conditions you will see that “in order to withdraw, a player’s account must firstly be age verified. If the Operator is unable to do this using an age verification agency, then photo identification will be required. In some cases, additional verification documents will be required”. Reading even further you will see the following “Any Jackpots of $10,000 and over will be paid in full and equally in three (3) monthly installments. Please note, individual arrangements will be made by (the site) and the winning party.” Many sites have this statement where they claim that there is no limit, but yet in small print you will find that this is not the case
Bingo Site 3 gives three limits with three different amounts: daily limit £1,000, weekly limit £2,000 and monthly £3,000. This is the question on which the mentioned article above tried to elaborate. Software providers like Dragonfish, Jumpman Gaming and Cozy Games all have these set limits. All Bingo sites using one of the listed provider’s software will have the same limits. Limits that don’t add up! Always look for the monthly limit as the maximum amount you will be able to withdraw per month, meaning that you are not privileged to cash-out a £1,000 per day for each day of the month, or £2,000 a week for each week of the month but rather 3 times the daily limit per one month.
Bingo Site 4 states that any withdrawals under $3,000 will be paid out in a lump sum, while withdrawals above that amount will be paid in increments according to the agreement between the website and the player. Usually, these installments are paid out on a monthly base, but it may vary from site to site.
We all know that playing a Bingo ticket for pennies will not generate the same revenue for the sites as slots or table games do; therefore the pay-out limit will be much less. However, this is an observation across the industry and even websites that have integrated casino and bingo software, which does not make perfect sense.
IMPORTANCE OF T&C’s
Having gone through the terms and conditions of a vast number of sites searching for their explanation of payout limits I can absolutely relate to the frustration of the author trying to add up the un-addable. She points out that “It can't be stressed enough the significance to reading terms and conditions of every site where a deposit is made” and I agree and urge all players to take time and read them thoroughly rather than just take for granted the first sentence in withdrawal limit section. You should only be wondering when that big hit will come your way, while perfectly knowing how much and how fast you will have that money in your bank account.Back to top