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Progress Publishing Co. |
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Bingo Odds |
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Progress Publishing Co. |
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Bingo Odds |
Bingo Odds
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Bingo – the game of the pure Luck
How Bingo odds can be determined
Factors affecting Bingo odds
Bingo odds and the Bingo systems
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Bingo – the nature of the game
Bingo is an example of the game of the pure Luck. All a player can do during the Bingo game is to passively sit and wait for the next numbered ping pong Bingo ball to be drawn randomly. His only reaction to that ball is to check if the number matches one of the numbers on his Bingo card and if it does a player should cover that number with a card’s tab, a plastic chip or a marker.
The bingo odds are terrible. That explains why female Bingo players usually outnumber male players by 4 to 1 or so. Women, in general, have a much foggier concept and understanding the odds and mathematical probabilities associated with the games of chance. Since Bingo is structurally similar to the game of Keno, the house percentage in Bingo is at least 20% against the players. Craps, Blackjack, Baccarat, and Roulette offer much better percentages to go against, and that’s why male players prefer those games to Bingo.
How to determine Bingo odds
The Bingo odds are determined in a simple way. To find out the house percentage, we have to take the ratio in percentage terms of the money left for a Bingo parlor after the prizes to the total amount collected from all sold Bingo cards. If, for ex. $600 was paid in prizes and the gross sales of Bing cards were a $1,000, then the house percentage in this case is 40%. That 40% cover the profit for a Bingo operator and all the expenses. The expenses include the rent for the premises, a Bingo equipment and salary of all the employees involved in running the game.
The house percentage in Bingo is not regulated. In result, it varies from one location to another and the players face different Bingo odds in different parlors.
For ex. if a house percentage is 30% that means that a Bingo player loses 30 cents on each and every average dollar invested in the Bingo game. We can state the same fact, if we’ll say that if a player will calculate all his wins and compare them to the total money spent over a long run Bingo gambling, he’ll see that he’s lost 30%.
Bingo Odds and System Players
Since all a Bingo player can do is to sit and wait for the drawn numbers and check them against the numbers on his Bingo cards, there is no skill that can be applied to the game to improve Bingo odds. Some players think that they’ll improve Bingo odds if they’ll buy more cards, because they’ll win more often. They’ll win more often, but they’ll spend proportionately more money to do that. In the end if they’ll compare more prizes won to the more money invested they’ll see the same percentage of their money lost to the house. The same result will be for all Bingo “systems” the players will come up with. Many players understand that but they still use the systems they like simply because that makes playing more interesting and gives them a psychological satisfaction of a somewhat thinking and active approach to the game.
Despite the bad Bingo odds the game of Bingo is an extremely popular game. That is due to the cheep price of a Bingo card and a huge excitement during the game when the players see that they need only one or two more numbers to cover a winning pattern on their cards and get the prize. If you don’t know what to do and need to kill a lot of time in a hurry then Bingo is one of your best alternatives.
Copyright Progress Publishing Co.