Usually 43 numbers are pre-drawn at the start of a bingo session. Players can purchase sealed bingo cards which are then matched against the predrawn numbers. At a specific time, the bingo caller asks if anyone has bingo/housie. If no one does, the caller then draws an additional ball.

Bonanza bingo is commonly played as a progressive bingo game, where the jackpot increases as more cards are purchased. If no one has achieved bingo after the 44th ball has been drawn, players then keep hold their cards for the next bingo session which may take place the following day/week etc. Thereafter, during each session a single ball is drawn and players may continue to purchase additional bingo cards until someone achieves a full house. This version of bingo also awards prizes to players who do NOT have a single number matched from the initial 42 numbers drawn.