Donald will stop by your dorm and ask you and Virgina if you want to play Bingo. If you choose yes, you will lose 5 dollars and then he will take you to Logan. You have to pay an entrance fee of 5 dollars. It IS possible to win, but it is completely random. This is gambling. There is nothing you can do (other than constantly reloading) to make yourself more likely to win. That's the whole point.
You will be visited again and asked to play another Bingo game with different rules. This time there's 5 games; each game you win you get 8 dollars. The entrance fee is still 5 dollars. An easy way to win all 5 games is to save right before the first game starts. Keep reloading before you win the first game until you win the first game. Once you win the first game, save. Keep doing this until you win all 5 games. If you win all the Bingo events you will get a tidy sum of 70 dollars.