Points Betting is a new way to bet on sports that has been introduced by the online sportsbook PointsBet. Points Betting gives sports bettors an alternative to fixed odds and ups the excitement level because potential winnings or losses are variable until the very end of the game.
The premise behind it is simple: The more you’re right, the more you win. Of course, the opposite is also true as the more you’re wrong, the more you lose. Points Betting is best explained with an example so let’s look back at Super Bowl LIII.
Let’s say you had a $10 bet on New England at -3 over the Los Angeles Rams at odds of -110. The Patriots wound up winning 13-3, meaning that someone who bet with traditional fixed odds would have profited $9.
In Points Betting, however, every single point matters as the original bet gets multiplied by the number of points in which the spread gets beat by. In this case, New England beat the spread by 10 points (13 points scored - spread of 3 = 10). Therefore, a $10 Points Betting wager on the Patriots would have paid out $100 ($10 bet X beat spread by 10 points = $100 win).
Of course, with the chance of a big reward comes a big risk and had the Patriots lost by 10 on the scoreboard, then the bettor would have been out $130 ($10 bet X missed the spread by 13 points = $130 loss).
Points Betting can be applied to other markets as well and the total from Super Bowl LIII gives us a more extreme look at this unique betting market, where Under bettors would have cleaned up and Over bettors would have had a rough night.
Let’s assume a Super Bowl bettor had grabbed the Under 47 on a $10 Points Betting wager. There were 16 total points scored in the game, so the game went Under the total by 31 points. Multiply 31 by the $10 bet and an Under bettor would have made $310. An Over bettor, of course, would have lost $310.
There is a stop-loss feature for Points Betting where bettors can enter the maximum amount they want to lose. Over bettors who had entered a stop-loss of 10x on Super Bowl LIII would have had their losses capped at $100. Of course, enabling a stop-loss also caps the maximum return potential and Under bettors on Super Bowl LIII would have had their winnings capped at $100 (had they enabled the 10x stop-loss).
Other Points Betting markets include time of bet props (i.e. time of first field goal to be made by a team or player in the NBA, or time of first goal in the NHL), player stats (i.e. the Over/Under for James Harden’s total points or the Over/Under for his field-goal percentage), or even multiplier bets (i.e. the Over/Under of New England’s total points multiplied by L.A.’s total points).
Points Betting is high-risk, high-reward, and not for the faint of heart. As PointsBet business partner Darrelle Revis puts it: “Make no mistake about it, Points Betting is a wild ride.”
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