You can win a lot of cash when you play bingo for money. Therefore, it’s extremely important to understand proper money management skills so that you utilize your winnings.
It’s very possible to win upwards of $20,000 in online bingo tournaments on sites like Bingo Hall and South Beach Bingo. Managing that much money is a big responsibility, that’s why we’re here to teach you what you can do when you play bingo for money and win. You’ll understand what to invest and what to replay. It’s a simple formula that can help you out in the long run. If you want to play bingo for money, then you can’t skip this article. Keep reading to find out more.
How much of your bingo winning should you re-play?
After you’ve made your first few deposits and begin to start playing bingo, chances are you’re going to start winning money. When you win that money, it’s vital to re-invest a proper amount back into bingo. A proper investment of half your earnings can boost your winnings into the stratosphere.
For example, if you play in the Team Bingo Smackdown Tournament on the popular bingo site Bingo Hall and your team wins the money, what do you do? The total pot sum of the tournament is $3,000, which is split amongst a 4 player team. If you win the $750 in cash, a great thing to do would be to take a chunk of that money and re-invest it into more upscale bingo games.
With winnings of $750 in cash you can use the money to purchase bingo cards in the rooms that may have initially been out of your price range. Bingo Hall has their Supernova Room that has a total card cost of $3. Use half of your winnings from the Smackdown Tournament and buy up cards in the Supernova Room. That’s a total of 125 bingo cards that you can play with!
If that doesn’t sound motivating enough for you, then we recommend that you use that money to play bingo for money in more tournaments. Wait until you see a worthy tournament with a big cash prize, and use your previous winnings so that you can buy into the promotion. You don’t even have to play for cash either. South Beach Bingo has given away incredible prizes this year, including 2 cars, a cruise vacation and 3D HD Smart TV’s.
Put some of the winnings into savings
We’ve mentioned above how you can make more money, off of the money that you’ve already won. It’s very important to play bingo for money and stash some cash away for a rainy day. Before doing this, make sure you read the withdrawal policy of the respective site you play on. Each site has a different policy when it comes to withdrawing money, so be sure to stay informed!
There you have it folks! When you play bingo for money and win, make sure to play with at least half of your money in other great bingo tournaments. Don’t forget to put a little money away at the end of the day either!
Take care and remember to play responsibly.