MathCurious
MathCurious
Joined: Nov 27, 2020
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December 2nd, 2020 at 5:24:38 PM permalink
Hi guys. I'm studying bingo and I'm really lost in how to calculate its RTP. If there are 100 cards given. The possibility of winning is 1/100 right? Losing would be 99/100, but having a tie is also a possibility, or having 3 winners, 4 winners, Ö, to all the players winning (somehow). So I don't really know how to calculate this. Do you guys have any idea how? Suppose the payout ration is 1:1.
ThatDonGuy
ThatDonGuy
Joined: Jun 22, 2011
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December 2nd, 2020 at 6:01:27 PM permalink
I assume that if there is a tie, the prize is split equally. In that case, the expected return = the prize divided by the total number of cards in the game.
USpapergames
USpapergames
Joined: Jun 23, 2020
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December 2nd, 2020 at 6:15:47 PM permalink
Quote: MathCurious

Hi guys. I'm studying bingo and I'm really lost in how to calculate its RTP. If there are 100 cards given. The possibility of winning is 1/100 right? Losing would be 99/100, but having a tie is also a possibility, or having 3 winners, 4 winners, Ö, to all the players winning (somehow). So I don't really know how to calculate this. Do you guys have any idea how? Suppose the payout ration is 1:1.



So your probability of winning bingo with 1 card is always going to be the ratio of 1 (or yourself) to the total number of card entries + the probability of a tie. So I've seen bingo played with 20 by 20 cards which are crazy but if your standard bingo card is a 5 by 5 then there are 53,130 winning combinations. This means you would need to buy all 53,130 unique bingo cards to ensure a win. Ties can only be calculated per total of cards and the number of turns that go by. The more turns it takes to obtain a winner the odds of a tie increase vice versa.

So the formula is p = c/o + t
p = probability
c = # of your cards
I = # of opponents cards
t = probability of tie

*note that if the sum of c + o = 53,130 then t = 0
*note that this formula doesn't apply to bingo games that sell repeated cards without first giving out all 53,130 possible winning combinations. This usually doesn't happen.
Math is the only true form of knowledge
Vegasrider
Vegasrider
Joined: Dec 23, 2017
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December 2nd, 2020 at 6:38:38 PM permalink
Itís the number of cards in play vs how many cards you possess. There will always be a maximum and minimum buy in amount for each player. You also have to factor in the cost of each card or pack and itís pay out, as many bingos are not paid equally. Nor the sessions will be the same as certain rooms will offer double or even triple bingo payouts. Believe it or not, you can find an AP even in Bingo. I am most likely responsible for Stations revising its coverall game almost 2 decades ago and I know I am definitely responsible for one bingo room to revise its maximum buy in amounts at one the Northern Nevada casinos.
USpapergames
USpapergames
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December 2nd, 2020 at 6:46:05 PM permalink
I think the important message about bingo is that you can't gain an edge no matter what because the operators just collect from the paid winnings. So even if it's just you and 1 other person you can't gain an edge because if the buyin is $5 the winning price will be less than $10 but must be greater than $6 to be considered a win, to begin with. But most likely the operators are taking 10-20% so you could get $8 for winning against 1 person but you are risking losing $5 or losing $1 if you tie lol.
Math is the only true form of knowledge
Vegasrider
Vegasrider
Joined: Dec 23, 2017
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December 2nd, 2020 at 6:51:57 PM permalink
Quote: USpapergames

I think the important message about bingo is that you can't gain an edge no matter what because the operators just collect from the paid winnings. So even if it's just you and 1 other person you can't gain an edge because if the buyin is $5 the winning price will be less than $10 but must be greater than $6 to be considered a win, to begin with. But most likely the operators are taking 10-20% so you could get $8 for winning against 1 person but you are risking losing $5 or losing $1 if you tie lol.



You are incorrect. Casinos can lose money during a session. Does not happen too often, but they can. Even to a point that they have the right to cancel a session as well.
USpapergames
USpapergames
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December 2nd, 2020 at 8:39:14 PM permalink
Quote: Vegasrider

You are incorrect. Casinos can lose money during a session. Does not happen too often, but they can. Even to a point that they have the right to cancel a session as well.



Wow really, I've never played bingo at a casino before so I must have the payout structure wrong. How is it possible for a casino to lose money on bingo? I could see casinos losing money because there aren't enough players to skimp from the winning payouts. For example, it's much easy to take $2 from a $5 buyin if there are 200 entries as opposed to just 2 people. A $400 loss doesn't seem like a lot when you're making a $595 profit as opposed to a $2 loss and $3 profit ;)
Math is the only true form of knowledge
Vegasrider
Vegasrider
Joined: Dec 23, 2017
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December 2nd, 2020 at 9:27:38 PM permalink
Quote: USpapergames

Wow really, I've never played bingo at a casino before so I must have the payout structure wrong. How is it possible for a casino to lose money on bingo? I could see casinos losing money because there aren't enough players to skimp from the winning payouts. For example, it's much easy to take $2 from a $5 buyin if there are 200 entries as opposed to just 2 people. A $400 loss doesn't seem like a lot when you're making a $595 profit as opposed to a $2 loss and $3 profit ;)



Payout structure is the magic word. The casino I play must have a minimum of 10 players in order for the session to be played. On rare occasions, I would be fortunate enough to play with only a dozen players. I purchase the most expensive packs worth the highest payouts and max out with 240 cards knowing that most people in the room don't buy the max and a couple playing paper only. I hit 70% or 7 out of ten games that paid $100 each. But in general, most bingo rooms will have enough players to pay out all bingos and post a profit. But with some casinos offering 4 chance $1000 coveralls, if they have a small turnout, that could be hard to overcome.
terapined
terapined
Joined: Dec 1, 2012
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December 3rd, 2020 at 2:12:19 PM permalink
I played bingo at the riverside in Laughlin
Huge room.
They removed half the seats for social distancing
I played
Nobody near me
But
I had the urge to cough
Not a good sound to hear these days
I think the ventilation was terrible
I thought I really took a risk.
I heard the Tropicana laughlin had a new bingo room with good ventilation. I checked it out. A lot smaller then riverside. No seats removed, they added dividers.
No thanks
At red rocks.
Bingo room huge with high ceiling and excellent ventilation. Hslf the seats removed. They said not busy so I'll probably play for a little fun
"Everybody's bragging and drinking that wine, I can tell the Queen of Diamonds by the way she shines, Come to Daddy on an inside straight, I got no chance of losing this time" -Grateful Dead- "Loser"
Vegasrider
Vegasrider
Joined: Dec 23, 2017
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December 3rd, 2020 at 4:55:01 PM permalink
Quote: terapined

I played bingo at the riverside in Laughlin
Huge room.
They removed half the seats for social distancing
I played
Nobody near me
But
I had the urge to cough
Not a good sound to hear these days
I think the ventilation was terrible
I thought I really took a risk.
I heard the Tropicana laughlin had a new bingo room with good ventilation. I checked it out. A lot smaller then riverside. No seats removed, they added dividers.
No thanks
At red rocks.
Bingo room huge with high ceiling and excellent ventilation. Hslf the seats removed. They said not busy so I'll probably play for a little fun



There are good and bad sessions, make sure you pick a session that offers double or triple payouts or a 3 chance $1000 coverall. Never play during the weekend, way too many players. With many of the casinos not reopening who had bingo, such as Texas Stations, Rampart, all those players have migrated to other rooms. Kind of like poker, players will just find another place to play.

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