PointsBet Sportsbook in New Jersey, launched in mid-January, has proven by far the most aggressive NJ online sportsbook in the state in terms of promotional offers and bonus packages for new customers (full review here).
The sportsbook’s latest offer — to both existing and newcomers — centers on the ACC, Big Ten, and Pac-12 conference tournaments, and then all March Madness games (including the First Four). In a nutshell, if you make a minimum $100 spread bet, you’ll collect $3 for every three-pointer your team sinks in that game. Although the ACC tourney tipped on Tuesday, there’s still a lot of games to be played in these run-ups to the NCAA college basketball tournament. And then, of course, 67 tournament games.
Let’s take a look at this offer and some additional March Madness promotions for the second-biggest sports betting event of the year.
PointsBet NJ ‘Make It Rain’ rules, opportunity
– You can’t bet both sides of the same game — an angle some middlers may have looked to take;
– Again, minimum bet to activate promotion is $100 (we asked – you don’t have to enter that code “THREE”);
– Again, existing PointsBet customers are eligible;
– It’s an uncapped promo — meaning you’re eligible to receive the $3 bonus on any game meeting the promotional criteria on any/all games through the National Championship on April 8.
Now that we’ve covered ground rules, how to maximize this promotion? Most important, don’t get reckless and simply hammer the board. If you were going to bet a certain side anyways, this is just gravy.
If not, you can get into +EV territory and overcome the 4.55% house advantage (assuming -110) if you find promising sides in games with higher totals (look at team and game totals) involving a good three-point shooting team, even better against a team that defends poorly on the perimeter.
Once the bracket is set this coming Sunday night and the lines begin popping, it’ll be time to dig in and find advantageous spots. Again, don’t simply bet it for the opportunity at an extra $18 to $40-something dollars… when you’re risking $100. And if you bet in $25 units, we don’t recommend quadrupling up to grab the promo. But if you avoid those pitfalls and pick the right spots, this is a really sweet and exciting promotion.
Also: ‘Cinderella Heartbreak promo’:
Another PointsBet offer: make a fixed odds moneyline bet on a team seeded 10-16 (playing against a higher seeded team), and if they lose by 3 points or less, get your money back — as bonus bet(s) up to $100.
Again, if you’re already going to bet the ML on a certain side, this is great. If you like the ML you probably also like the spread, so you can sprinkle (or douse) the ML, and if it lands as a 3, 2 or 1-point loss, win your spread bet and up to the $100 Cinderella consolation (assuming your team wasn’t a 2.5 ATS dog or less).
This gets interesting in games where it’s a good 10 seed against a weak 7 in the first round. Off the top of my head, there have been some under-seeded 10s in recent years to go off at, or near, a pick’em. To scoop a potential $100 for up to a 3-point loss when you’re backing a team getting 2 or 1, or potentially even a short favorite, is pretty nice.
One more: 4+ leg parlay insurance:
Place a 4+ leg parlay on any March Madness tournament game and if exactly 1 leg loses, get your money back as bonus bets up to $100. (Maximum one parlay refund per day). This goes for ML wagers, sides, and totals.
The odds requirements on these are that each leg can be a max of -500, and the total parlay must have odds of +100 or less.
Generally a 3-leg parlay (with -110 legs) pays about 6:1 and a four legger 10-1. We don’t recommend parlay wagering in general, but obviously they’re popular and to each his own… so if you’re so inclined, have at it.
For a look at March Madness promotions at other/all NJ sportsbooks, check out Eric Raskin’s article at NJ Online Gambling.