There is nothing new about betting on the total number of points in a match, but PointsBet takes this type of sports betting to a new level with its Points Betting market.
With Points Betting, you can make your total bets worth even more than before, as every extra point scored in the game will earn you another betting unit.
Players that sign up to PointsBet can use their app in a variety of states — the operator is live in Pennsylvania, Michigan, and New Jersey, among others (check out this PointsBet review for more details}.
This type of betting is currently unique to PointsBet and so sets it apart from other US sportsbooks, which is why it’s worth having a closer look at. It also makes them stand out from the crowded market of sports betting apps in Ontario, PointsBet’s latest market (it launched there on April 4).
Keep reading to learn how Points Betting works and how you could profit from it by betting on your favorite NBA, NFL, and MLB games.
How Points Betting Works in Practice
The Points Betting market is pretty simple to understand, especially for bettors who are used to betting on totals.
In a classic totals bet, you are given a line and bet on over or under. If you bet on over, you need more points to be scored than the line, and if you bet on under, you need fewer.
With Points Betting, you are also betting on a predetermined points line. However, the more you are right, the more you win, and the more you are wrong, the more you lose.
Let us imagine you bet on an NBA match ending with over 210 points. In classic totals betting, you would be given odds on this, winning the same amount regardless of whether the final score was 211 or 300 points.
With Points Betting, you will earn an extra betting unit for every additional point scored, but will also lose an extra unit for every point you come up short.
If you make a $10 Points Bet on this, you will win $10 if the total is 211 but $100 if the total is 220. However, you will also lose $100 if the total is 200.
Points Betting is an extremely exciting way to bet on sports, as it allows you to win big if the game goes precisely the way you imagined it. Savvy sports bettors are rarely that far off that such a bet would result in a considerable loss, but let’s talk about the potential wins and losses and how they work.
Market Caps, Stop Loss, and Balance Withholding
PointsBet offers hundreds of betting markets with Points Betting options for major NBA, NFL, and MLB games. The operator places a market cap in each market, representing the maximum win and maximum loss you may incur.
For example, your winnings and losses may be limited to 200x your initial stake. These numbers are usually very far from the initial betting line, and it’s nearly impossible to hit the market cap in a Points Betting market.
Since the results of Points Bets are variable, the operator will withhold a piece of your balance to settle the bet should you lose.
For example, placing a $10 bet on one of these markets can result in the operator withholding $300 out of your balance for the game’s duration.
If you win, the $300 balance and any winnings you earned are returned to you. If you lose by less than $300, the remaining withheld balance is returned to you. If you lose by more than $300, which is very improbable in this case, the operator will charge the remaining funds from your balance.
PointsBet also allows players to place a stop loss on their Points Bets, which means you can decide your maximum win and loss. For any extra points, either way, you will not get paid the extra winnings or charged the additional cost.
For instance, if you bet on an NFL player’s passing yards and the line is set at 250 passing yards, you may decide to put a stop loss of 10 yards. In this case, the player ending with 225 passing yards would only cost you 10x your initial betting unit, while your maximum win would also be 10x your betting unit, regardless of whether the total number of yards was 260 or higher.
With the Points Betting stop loss, you can limit your losses and make sure you have enough balance to cover if your bet goes wrong while still winning a decent amount if your bet goes the right way.