PointsBet

PointsBet is an Australian-founded sportsbook that has made a major impact in the US market. It distinguishes itself with a proprietary high-risk, high-reward betting format called "PointsBetting." In this format, your winnings or losses are variable; the more right you are, the more you win, but the more wrong you are, the more you lose (e.g., if you bet the Over and it goes over by 10 points, you win 10x your stake).

Alongside this unique feature, PointsBet offers a traditional fixed-odds sportsbook and an online casino in select states. The platform is known for its sleek, fast app and competitive odds. It is a legitimate, licensed operator in multiple US jurisdictions and Canada, recently selling its US operations to Fanatics Betting and Gaming.

Frequently Asked Questions

1. What is PointsBetting?

PointsBetting is a unique wager type where your payout is not fixed. If you bet $10 per point on the Over, and the score is 10 points over the total, you win $100. Conversely, if it is 10 points under, you lose $100. It amplifies the excitement and risk of every play.

2. Can I set a stop loss?

Yes, due to the high volatility of PointsBetting, the platform allows you to set a "Stop Loss" limit to cap your maximum potential loss on a wager. This is a critical risk management tool that bettors should use to protect their bankroll.

3. Is PointsBet legal?

Yes, PointsBet is fully licensed in numerous US states including Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, Virginia, and West Virginia. It is also legal in Ontario, Canada.

4. How fast are withdrawals?

PointsBet processes withdrawals quickly, typically taking 1-2 business days for online banking and PayPal transfers. They do not charge withdrawal fees. Users must verify their identity before the first withdrawal is approved.

5. What is the Karma Kommittee?

The "Karma Kommittee" is a unique promotion where PointsBet refunds bettors in Bonus Bets if a "bad beat" occurs (like a star player getting injured early in the game). It is a goodwill gesture that builds loyalty among users.