Licensed in Colorado
You are forgiven if you don’t know PointsBet. It’s an Australian company that has only been around since 2017, and it doesn’t have nearly the name recognition of many of the larger domestic and international sportsbooks.
But it’s now in the European and American markets, and it is so committed to its offerings in Colorado that it’s built its western U.S. base of operations in downtown Denver.
Not only is PointsBet new, but it’s also introduced an entirely new approach to sports betting. All of the traditional ways of betting are available.
But with what it calls PointsBetting, you can place wagers on games that come with different payouts based on the margin of victory. When your bet wins by three points, get a payout for three times the bet amount.
It’s a new way for a new company to spice up the old and traditional way of sports betting, and it has come to Colorado on the web and your favorite mobile device.
Sign Up and Deposit Bonus
There is no deposit match offered by PointsBet, but in terms of risk-free bets, this is one of the better offers around. You can earn up to $1,000 worth of risk-free bets, but with a wrinkle that is better for the customer.
Most sportsbooks offer you a single risk-free bet, and the only way you’d get $1,000 in value is if you placed a single $1,000 bet. With PointsBet, however, you can qualify for four separate risk-free bets of up to $250 each. You get two offers for your first fixed-odds bets and two more offers for your first PointsBetting wagers.
It’s a generous offer, and since PointsBetting is new to most customers, it’s a good way to experiment with these types of bets without the normal risk. A deposit bonus or registration gift is always nice, but this offer is also quite good.
Bonus Offer Terms and Conditions
Bonus wager amounts will only be awarded if the original qualifying bet loses. Once a bonus bet is put into a customer’s account, they will have seven days to use it; otherwise, it’s forfeited.
Bonus wagers must be used on odds of -200 or more, and only the winnings from these wagers will be added to a customer’s account. The amount of the bonus stake will not be included and will not be eligible for cash out.
PointsBet Rewards Club
While most online and mobile sportsbooks won’t offer a loyalty program, PointsBet gives its customers free membership into PointsBet Rewards. You will have to sign up – membership isn’t automatic – but it’s easy to do, and all PointsBet customers are eligible.
Rewards points are earned in the following ways:
- 1 Point for every $5 in fixed odds bets
- 1 Point for every $1 in parlay bets
- 1 Point for every $1 won or lost on PointsBetting
$250 BONUS MATCH
ON FIRST DEPOSIT – T&C’S APPLY
Customers at PointsBet will find several great features that keep them happy and engaged throughout the sports calendar.
$25 Money Back Parlay: On any four-leg parlay, if three of your legs win, but one leg loses, you will be refunded the entire $25 bet.
Soccer Bonuses: PointsBet offers a pair of soccer bonuses – an early payout on any bet that goes up by two goals, and a first goal bonus that allows you to cash out your bet if your team finds the net first.
Refer a Friend: A popular and easy way to put money into your account is a refer-a-friend bonus. For every friend you refer to PointsBet that deposits $50 into their account, you will get $50 in bonus bets.
And don’t worry if you have a lot of friends that want to join. You can get bonus money for up to 50 friends ($2,500) per year.
PointsBet also features parlay boosts, early cashouts, in-play wagering and parlays, and a feature called Name a Bet. If you can find a bet that isn’t offered by PointsBet, send them a tweet with the details. They will get back to you with odds and a price.
BANKING WITH POINTSBET
Even though it is newer to the sports betting market, PointsBet customers in Colorado will have the same banking options they would find with any other sports betting provider.
Making Account Deposits
The following deposit types are available.
- Online bill pay
- Credit and debit card
- PayNearMe (available at area 7-Eleven stores)
- Cashier’s check
PointsBet has a signed deal with EML (Entertainment, Meal, and Living) that also allows account deposits using an EML card.
Making Account Withdrawals
Most deposit options can be used for withdrawal, including online bill pay and PayPal. You can also return money to your credit or debit card, but for the security of the transaction account, verification will be required. You can also have a check sent to your mailing address, but that comes with delays for processing and posting.
One thing to note about withdrawals – because PointsBetting wagers can lose money in greater amounts than originally wagered, you will not be allowed to make a withdrawal while any wagers remain open and unresolved.
Wagering Options at PointsBet
Whether you are online at PointsBet.com or on the PointsBet mobile app (available for iOS and Android), all of the wager types you can imagine are available.
The available sports offered by PointsBet looks exactly like a company formed in Australia and now operating on multiple continents.
- Aussie Rules
- Motor Racing
- Rugby League
- Rugby Union
- Table Tennis
If there is a sport not listed on the website or app and you want to play it, through PointsBet’s Name a Bet feature, you can send them a tweet and request odds and a price.
Available Wager Types
The types of fixed-odds bets that are offered by PointsBet include:
Point Spread: The most popular and basic of all sports bets. The point spread represents the margin of victory in which the favorite must win by to “cover the spread.”
Moneyline: The moneyline represents the odds of a team winning the game outright without the use of a point spread. For example, if the moneyline reads -115, that is the favorite, and to win $100, you must bet $115.
Totals: This is a bet on the combined total of points, runs, or goals scored by both teams in a single event, regardless of which team wins. It’s also called an over/under bet.
Proposition Bets: These are bets that focus on the outcome of small events within a game. Prop bets are offered on team and individual results, like which team gets the most hits, who throws for the most passing yards, and who makes the most three-point shots.
Futures Bets: A futures bet is a bet on an event typically far in the future, such as the winner of the Super Bowl or FIFA World Cup.
Live Betting: Also called in-play wagering, these are bets placed on events already in progress. They feature constantly changing spreads and odds, quarter and halftime lines, and multiple buyout options.
It’s fast and furious and has become incredibly popular. It works best with a quick and responsive app, which PointsBet has.
What sets PointsBet apart from its competitors and the entire industry is its unique PointsBetting offerings. The greater margin of your winning bet, the bigger the payout.
Let’s say you take the Steelers +3 against the Ravens for $10. And lucky you, not only do the Steelers cover, but they win the game outright by three points. That’s a six-point win on your bet, meaning that the $10 wagered will win you $60 in profit.
For each point or unit in which you win your wager, you will be given 1x the value of your bet. Win by two points, and your wager is doubled. Win by three points, and it is tripled. And on and on it goes.
As you can imagine, if you can find favorable point spreads that are exploitable, big profits can be made.
Of course, PointsBet isn’t in business because it’s handing out big checks to all its customers. There is a flip side to this equation.
When you place a PointsBetting wager, you not only agree to the possible bigger payouts, but you also agree to potentially bigger losses.
Lose your bet by two points, and you lose double your wager. Lose by three points, and it’s a loss of triple your wager. And on and on it goes.
So it’s not all profits and good times. But considering how popular it’s been with new customers at PointsBet, the excitement of the possible big wins appears to be worth the risk.
Anyone legal to place sports wagers in Colorado is eligible to open an account and place bets with PointsBet. As long as you are at least 21 years old and inside the Colorado state lines when placing a wager, you qualify. It’s important to note that Colorado residency is not required to place legal sports bets.
Yes, you can go into a negative balance because of losses incurred with PointsBetting. You will need to return your balance to even within 24 hours if you wish to keep betting with PointsBet.
If this happens repeatedly, PointsBets may withhold 100% of the maximum loss amount of your wagers. So be sure to have enough money in your account to cover any possible losses.
PointsBet has a help page that contains a series of articles on the various problems you might encounter. It’s not the most comprehensive help section you’ll ever use, but it gets the job done for most of the questions you’ll have.
For anything not covered in the help section, PointsBet does offer 24-hour online chat. You can also contact customer service via email for problems or questions that are less time-sensitive.