PointsBet Online Sportsbook Promo Codes & Review
PointsBet first launched in the US in New Jersey in January 2019, through a partnership with Meadowlands Racetrack. The company is based in Australia, and in addition to having very good fixed odds pricing, has brought a unique type of high-risk, high-reward sports betting to the U.S. that it calls “PointsBetting.”
After extensive testing, we give PointsBet Sportsbook extremely high marks overall. There are areas for improvement, of course, but the excellent user experience on both mobile and desktop, combined with the great pricing and overall betting options, make this a very desirable legal online sportsbook.
In what states is PointsBet Sportsbook legal?
PointsBet is expanding aggressively in the US, but is currently legal only in the following states:
|State||Bonus||Casino Partner||Launch Date|
|New Jersey||Get Bonus||Meadowlands||January 2019|
|Colorado||Get Bonus||Double Eagle Hotel & Casino||November 2020|
|Iowa||Get Bonus||Catfish Bend||November 2019|
|Indiana||Get Bonus||Hollywood Casino||March 2020|
|Illinois||Get Bonus||Hawthorne Race Course||September 2020|
Bonus/welcome package for new customers
|PointsBet Sportsbook Welcome Bonus|
|New Player Bonus||Up To $1000 in Risk-Free Bets|
|Launch Date||January 2019|
New registrants from Sports Handle are eligible for not one, not two, not three but four risk-free bets (up to $1000 total). Just follow the links on this page or use the promo code above when creating your account.
1. Two $250 risk-free fixed odds bets: For this bonus, you make a traditional fixed odds wager, such as a spread or moneyline bet, up to $250. If you win, excellent, the winnings are yours to keep. If you lose, you get the amount of your wager — up to $250 — refunded to your account as a bonus bet. If you bet the full $250 and it was refunded, you have the option to divide the $250 refund into either 2, 3 or 4 equal bets such as 2 $125 bets or 4 $62.50 bets. One the first bet is done, you can complete the same process over again on your second wager as well!
2. Two $250 risk-free PointsBetting bets: For this bonus, you make a PointsBet (explained below) and if you lose, you will get refunded up to $250 each on your first two bets. PointsBetting is distinguished from fixed odds betting but the same bonus rule applies: You don’t absorb the loss, rather, if your PointsBet goes kerplunk, the sportsbook will issue you up to $250 (corresponding to the amount of your actual PointsBetting loss) in the form of bonus bets. The site will process bonus refunds as bonus bets within 24 hours of bet settlement. The refund does not need to be used on a Pointsbetting bet, but rather on any bet offered on the site.
PointsBet Sportsbook basics
Some basics for starters, you must be located in a state where PointsBet is legal in order to bet real money at the book. The law requires that PointsBet (and other licensed sportsbooks) use geo-tracking technology to make sure players are physically inside the state. You must also be 21 years old to use legal U.S. online sportsbooks.
PointsBet offers a robust menu of sports betting options — for the most part, similar kinds of wagers that you’d find at other U.S. sports betting sites and available with regulated operators overseas, with some added creativity. Here’s what you’ll see, all of them discussed in greater detail below in the “betting options” section.
- Live and in-game wagering
- Moneyline wagers
- Spreads and totals (fixed odds on team and game totals, quarters, halves, etc.)
- Alternate spreads and totals
- Props: player, team and scoring props
- Futures: such as who will win the World Series, NBA MVP, and over/under NFL win totals, for example
- PointsBetting: discussed in detail below.
- Multipliers: discussed in detail below.
Overall it’s an appealing and impressive book that brings something different to the table; of course that something different is high-risk and potentially high-reward, and should be understood and appreciated as such. In other words, it can be a wild ride, so bet wisely.
The app and web-platforms are fast, smooth, intuitive and easy to learn. The sportbook has a contemporary and professional design that rivals FanDuel’s as the best in the U.S. online sports betting market in those regards (and others). There’s no clutter and account information is clear and accessible. We really like the look of this sportsbook and give it a high recommendation.
PointsBet mobile app
- Availability: The app is available on both Android and iOS systems.
- Speed: It’s super fast (best to use on WiFi versus data).
- Stability: Testing repeatedly on an Android system, we found the app maintained its level of performance consistently. The app did not crash or stall during any of our testing.
- View: Game spreads, totals and moneylines are displayed in one single frame, so you don’t have to toggle through different dropdowns as in other sportsbooks, which is annoying and can get you lost.
- One thing we don’t like: The home team is listed on the top and away team at the bottom. This is the opposite of what you’ll see in box scores and other sportsbooks. An example, you’ll see New Orleans Pelicans @ Indiana Pacers, but underneath, Pacers -6 then Pelicans +6. Be careful you don’t hit the wrong button and review your betslips. Same issue on the web platform.
- Bet Slip: Make your pick, then you’ll get a menu showing the wager (so you can be sure), and underneath you can use the premade increments (from 50 cents to $500), and either add to your betslip for a parlay, or just continue going through the slate of games or menu.
- ‘Bet Now’: You can also choose to “bet now,” which bypasses the usual confirmation process. It’s helpful if you’re betting in-game and want to make sure you get place the bet in time.
- Design: Account-related and functional screens are easily accessible and give identical information on the app and web platform. Hit your username on the web or your balance and the arrow on the app, and you will see a dropdown showing:
- Your balance
- Bonus bets available
- Rewards balance
- Deposit options: Multiple funding options are available.
- Account details
- Transaction History
- Pending bets
- Settled bets
- Account history (sortable, showing bets made and details on the bet by hovering over, without having to scour through sub-menus, deposits, withdrawals)
- Withdrawal option
- Log out
Overall it’s a breeze and stands out from competitors.
It’s pretty much a mirror image of the app, with a broader display showing more of the menus in one view. And it’s fast. If you’ve used the app, you should be able to easily navigate the web version. The platform is stable and didn’t stall or crash during any of our testing. Not much else to say here that isn’t covered in other sections.
Pricing and betting options at PointsBet
Pricing on fixed odds markets is very good. During the NFL season, we often found reduced juice on NFL games: -105 on both sides. For regular season basketball, they post standard 20-cent lines with -110 both sides or -105 and -115. Moneylines are comparable with the other best-priced options in legal markets. That said, we noticed at one point during the AAF season (Alliance of American Football) that spread prices were -112 all around, likely because the AAF is an “inefficient” market.
From our testing, in-play wager pricing showed 20-cent lines almost all around (mostly -110). Compare that with DraftKings, which has in-play pricing anywhere from 25 to 30 cents or even higher. For example, -119 and -112.
PointsBet’s moneyline in-game pricing is generally commensurate with what you see on pre-game pricing.
Parlay pricing is standard: +265 on two-leggers and +595 on three (assuming -110 individual wagers). As for teasers, while PointsBet has said that traditional teasers will be coming in the near future, you cannot right now bet traditional teasers, such as 4 or 5 points basketball teasers, 6 points football or otherwise. What you can do, also an option at other books, is navigate to “Pick Your Own” menus for most games and basically construct homemade teasers/parlays, by combining multiple alternative spreads. PointsBet has added in-game parlay betting to their extensive repertoire of betting options as well.
For example, the spread might be Raptors -7.5 (-110) with an available alternate spread at Raptors -3.5 (-200). And then the Thunder are -4.5 (-110), let’s take that to +1.5 (-223). Combine these, and the resulting “2-leg parlay” gets priced at +118, or bet $10 to win $11.80.
Pricing on futures bets is pretty consistent with what you’ll see elsewhere. Some future markets showed better odds, and in some cases, lower odds. For example, for World Series futures, we found that both DraftKings and FanDuel were offering slightly better odds on the frontrunners. This just depends on exposure and perhaps the book’s position, so as always, best to shop around.
- Live and in-game wagering: The live menus update quickly, are clean and they make it easy to enter a wager quickly, which is essential in live betting. PointsBet also recently added in-game parlays!
- Moneyline wagers.
- Fixed odds on spreads and totals (team, quarters, halves, etc.)
- Alternate spreads and totals.
- Props (player, team and scoring props).
- Player assists, player rebounds, player points (individually)
- Kawhi Leonard under 38.5 points * rebounds * assists (-115)
- Pascal Siakam to get a double-double (+210)
- Chris Paul to get 14+ points and Rockets to win (-112)
- Player to score the most points amongst a field of options, including for example James Harden -400 and Brandon Ingram +3300.
- Futures: Such as who will win the World Series, NBA MVP, and over/under NFL win totals, for example. Other examples include team win total over/under, or individual futures such as Corey Kluber (+800) to have the most wins among pitchers.
- PointsBet has offered NFL Draft futures and a full menu of Oscars betting, indicating they’re willing to offer as many options as regulators will allow.
- Some other pretty creative markets you’ll find are: Justin Verlander and Gerrit Cole to combine for 500+ strikeouts (+110), and Aaron Nola to win 20+ games.
- PointsBetting: Referenced above, discussed in detail below.
- Multipliers: As PointsBet explains in an example, if you think two football teams are going to score a lot of points, instead of just betting the Over on fixed odds, you can bet a “multiplier,” which is a kind of PointsBetting. For example, the outcome of one such multiplier bet, on a $10 wager, may be calculated by multiplying both teams’ total points scored. So let’s say the Saints score 20 and the Rams 30, that’s 600. If you bet the Over on 560 total points, you’d be a winner by a margin of 40. You bet $10, that would return you $400. And of course if the the score was 36 to 20, that’s 520, that’s also a margin of 40, and you’d lose $400 in that case.
- Other examples of multiplier markets:
- Player points multiples (Q1 pts multiplied by Q2 points)
- Paul George * Donovan Mitchell cross points (Under 688, Over 792)
- Player rushing yards * player receiving yards
- Other examples of multiplier markets:
What is PointsBetting?
This will be a new concept for most U.S. bettors. PointsBetting works on a scale that rewards or penalizes bettors relative to where the number lands — whether it’s the spread, total points, player yardage, etc. For example, if you use PointsBetting to take the Over on Warriors’ total points at 113, and they score 123, you would win 10x your wager (the difference between 113 and the final 123).
If your wager was $5, x10 means you’d win $50. But if the Warriors scored only 103 points, you would lose $50. Now if the game went to overtime and the Warriors ended up dropping 143, you’d win 30x your wager on the $5 bet, or $150 (with a caveat that you may limit your potential loss and win, discussed below).
Basic overview and PointsBetting options
Separate from basic PointsBetting offerings on standard fare such as game totals and game spreads (or half or quarter spreads), you can PointsBet on such propositions as:
- LeBron James total points: Under 27 or Over 28.5
- LeBron James total points * assists * rebounds: Under 2,181 or Over 2,509
- Kyle Kuzma points * rebounds: Under 101 or Over 117
- Chicago Blackhawks performance (Under 28, Over 32): It’s a bet on this team’s overall performance in the game, with 25 points awarded for a win and 5 points per goal scored by this team.
- For example, a bet on Over 30 means that if the team wins and scores 4 goals, the bet results at 50 and you win 18 times your wager (Over 32). So a $10 wager would win $180).
- Other generic examples of PointsBetting markets:
- Player shooting percentages (field goal %, free Throw %, 3Pt %, etc.)
- Time of first basket by player (90 seconds)
- Quarterback completion %
- Time of first touchdown (in seconds)
- Longest made FG distance in feet
- Time in minutes played for players to pass 5pts/10pts/15pts etc,
The sun, not the sky, is pretty much the limit here. Sort through the options, do your homework, and choose your own adventure.
- Note 1: If you’re betting a player prop, and your players gets injured, in an individual PointsBet or a multiplier, you’re in trouble. Because it’s not binary O/U: You’re going to lose by a big margin. Of course, you can cap your loss or potential win.
- Note 2: There’s no vig on losing wagers. Meaning if you bet $10 and your pick loses by 3 points, you’ll drop $30, not $33.
- Note 3: There is a gap between the O/U that decreases or increases in size depending on the range of outcomes. So you’ll be starting a bit behind on these PointsBets. This is just part of the house advantage.
- Note 4: From a personal perspective, one of our staff members focuses on NFL and the MLB, and probably will not wade into PointsBetting in his “secondary” sports. One way he’ll get some long-term excitement out of PointsBetting is by studying all the MLB teams and betting Over or Under on their team totals. So this is basically a futures bet that won’t settle until late September. If he picks Yankees over 94 and they reach that with 10 games to go, on a $50 bet, he’s got 10 shots to win $50.
How to protect and build your bankroll PointsBetting
“Stop loss” and corresponding “cap” on winnings: For PointsBetting, you’ll have the ability to reduce your potential losses on a wager. This feature is accessible with an adjustable bar.
For example: Suppose you backed Minnesota -5 and you set a “stop loss” at 12 points on a $5 wager. If they lost by 20 points on the spread, you wouldn’t lose 20 times your wager. You would lose only 12x (or $60), thanks to the “stop loss.” But note that the stop loss margin also acts as the cap win margin, so if Minnesota won by the same range, your win would getting capped at 12x the bet.
When you make a PointsBet, your potential win or loss is variable. The range of outcomes might be 50 yards (points) Over 90 yards receiving for Odell Beckham Jr. or 50 yards (points) Under 90. Suppose you bet $10. You might lose $500 (if he records 40 yards receiving or less) or win $500 (if he reaches 140). At the time of placing the bet, however, you won’t need to have a full $500 (the potential loss) deducted from your account. Rather, it would be something more like $300, or 60 percent of the maximum total exposure ($500 loss).
This withheld amount is based on previous statistics and historical results of that particular market in order to cover nearly all possible results. Each market has different volatility and range of results which affects the withheld amount. Note that the withheld amount cannot exceed what you have in your account; in other words, the account cannot go into the negative.
Closing thoughts on PointsBetting from Sports Handle contributor Steve Morris
“There’s a certain satisfaction to playing ‘action points’ compared to traditional point spread plays. Point spreads and totals bets are binary; either you win or lose and close doesn’t count. As in you lay 9.5, your team wins by 9; you lose. Action Points are more like a stock trade — if you’re right you get rewarded and conversely, you don’t. If the game lands close to the spread or total, your result will be commensurately small. And if you’re spot-on in your handicapping, by a big margin, you’ll have a big payday.”
“I’d like for the action points model to succeed and look forward to it spreading to other jurisdictions. It’s most laudatory for PointsBet and U.S. regulators to develop, offer and allow other types of bets and betting models besides the traditional point-spreads, sides, and totals. This includes the recent DraftKings handicapping tournament, warts and all, which, with a few adjustments and better management, can be a wildly successful recurring event.”
Separate from the features described in the above sections, we have some additional observations about the PointsBet online sportsbook user experience. You can chat 24/7 with a real, human person. The chat function works well on both the web and mobile versions. The queue wasn’t long — not more than 3 people or a 5-minute wait in the tests we conducted — and the agents were responsive and helpful.
PointsBet has been known for aggressively offering a variety of promotions daily. This Includes freebies from the “Karma Committee.” For example, when Duke’s Zion Williamson went out with an exploded Nike sneaker in the first minute of a Duke-North Carolina tilt, PointsBet refunded all Duke spread and ML wagers and Zion prop bets. They did this not only for their own users, but offered a free bonus equal to wager up to $100 for newcomers — for bets made at other legal NJ online books. (Notice the image shows a losing ticket from DraftKings.)
Did you bet on Duke with another legal NJ book?
Sign up for PointsBet with code “KARMA” and DM us with your bet slip + your new PointsBet username. We’ll give you whatever amount you bet (up to $100) in Bonus Bets!
— PointsBet Sportsbook (@PointsBetUSA) February 21, 2019
Other types of promos include instant (early) payouts on moneyline wagers if a certain team mounts a big enough lead. For football this might mean 14+ points. Or it could be on a futures market: PointsBet once paid out bets on James Harden to win 2019 NBA MVP about three months prior when the hardware will actually get handed out.
One more promo example: “No juice” has offered no juice spread lines in the past on certain teams or events, with a max wager on those offerings of $200. So, on a $200 wager, that’s a potential extra $18 win at even money versus a -110 price, for which a $200 bet would return about $182.
Something else we haven’t seen at other sportsbooks: PointsBet has allowed users to actually cancel a bet. Per site terms & conditions: “A bet can be canceled as long as a request is made via 833-338-PBET. All cancelation requests must occur within 15 minutes of placing the bet, and are at the discretion of the PointsBet management team.” We’re not aware of any other legal books where you can do this, so if you fat-finger a wager, it’s nice to have a way to get out of it if you catch it in time.
PointsBet also offers a “betting preview’ for certain games, basically a matchup preview. If you’re coming in cold and just want some basic intel on the game, it’s nice to have the quick primer.
Finally, “rewards points”: For every $5 in fixed wagers, you get one point redeemable for bonus bets. For example, $5,000 dollars wagered would be 1,000 points, which corresponds to a $10.00 bonus bet. For PointsBets and parlays it’s 1:1. So, you get one bonus point for every dollar wagered. You’re betting anyways, so it’s nice to rack up these points for additional free bets for later.
Banking options may vary per state and include:
- ACH/eCheck: Pretty easy to deposit with ACH via your online bank system. Link up your bank once and you can use it and re-use it for both deposits and withdrawals. Once we linked up an account, making a deposit after the initial one was very, very fast and easy. Likewise, a withdrawal hit the account about 36 hours after requested.
- PayPal: You probably already have a PayPal account. Now you can use it to make deposits at PointsBet.
- Credit and debit card: Deposit with your Visa or MasterCard, although some issuers may still opt to decline. You’re more likely to have success with a debit card/account.
- PointsBet Card: Basically you apply for a Mastercard through a bank, subject to deposit limits and withdrawal requirements. We have not yet attempted to fund PointsBet in this way.
- Online banking transfer: Only available if you can set up Bill Pay through your bank. Eligible banks include Bank of America, Chase, Wells Fargo, PNC Bank, USAA, and more. For this method, you don’t even have to provide an ACH number; simply log-in through your bank portal from the PointsBet interface and conduct the transaction from there.