The latest betting phenomenon to hit the ever growing U.S gambling scene is points betting. Aptly named, sportsbook ‘PointsBet‘ are the worldwide leaders in the art of points betting, and it is quickly becoming one of of the most popular and most interesting ways to watch and stay interested in a sporting event!
If you’re unfamiliar with the term ‘points betting’ then don’t worry, we have a full guide to what it is and how it works below!
What is Points Betting?
To put it as simply as possible, points betting is a form of bet that allows you to win more money depending on how right your selection in a sporting event is. On the flip side, it also means you can lose more money if your selection turns out to be completely wrong.
Basically, a points bet is wager you place on a particular outcome of a sporting event or a play within a sporting event where the more right you are, the more money you win. The bet doesn’t always have to be on the result of the game, points bets are available on anything from stats within the game to a particular time in the game where something takes place.
How does it work?
To understand how points betting works, we need to understand the differences between a standard ‘fixed bet’ and a ‘points bet’.
Let’s say the Patriots are playing the Texans this week in the NFL and the Patriots are favoured by three points. If you place a standard $10 fixed bet on the Patriots to cover the spread at +100, you’ll need the Patriots to win by 4 points or more to win your bet. Regardless of if the Patriots win by 4 or win by 30, your winnings will remain ‘fixed’ at $10. On the flip side, if the Texans cover, you’ll only lose $10 regardless of if they cover by a solitary point, or 30 points.
Now, let’s say you want to place a points bet this week instead of just betting on the Patriots to cover the -3 point line. If you place a $10 spread bet on the Patriots at -3 and they win by 4 points, you’ll cover your bet and win $10. However, every extra point the Patriots win by, will be an extra $10 in your pocket. For example:
- Patriots win by 4 points (cover spread by 1 point) 1 x $10 = $10 winnings
- Patriots win by 10 points (cover spread by 7 points) 7 x $10 = $70 winnings
- Patriots win by 15 points (cover spread by 12 points) 12 x $10 = $120 winnings
This seems like a no brainer right? The more you are right, the more you win. HOWEVER, there is a flip-side. If you are wrong about the Patriots this week, your losses wont be limited to just $10. Just like the calculations above, you’ll also be risking $10 for every point you are wrong. For example:
- Patriots win by 2 points (Texans cover spread by 1 point) 1 x $10 = $10 loss
- Texans win by 5 points (cover spread by 8 points) 8 x $10 = $80 loss
- Texans win by 10 points (cover spread by 13 points) 13 x $10 = $130 loss
Capping Your Losses
As with any form of betting, there are risks to take into account, and points betting increases the risk if you are wrong by a wide margin. However, there are some ways to ensure that you cap your losses at a level that you are comfortable with.
You can naturally cap your losses by simply betting on a market that has a floor or a ceiling. If the total point line in the Patriots/Texans game this weekend sits at 50 and you like the over, then your losses are automatically capped at 50 units, because even if the game ends in a 0-0 tie, the lowest possible outcome, you will only lose 50 units. If you have a loss cap of $200 for this game, then you you should be placing a $4 bet on the over, because if the game does end in a 0-0 tie, you will lose 50 units and 4 x 50 = 200.
PointsBet are the world wide leader in points betting not only because of their name, but also because they allow everyday gamblers the thrill of points betting without as much of the risk with the ability to manually cap your losses. Say you like the OVER in the Patriots/Texans game but you aren’t willing to risk losing the full 50 units in the case of a 0-0 tie. You can manually cap your losses at 20 units, meaning that any score under 30 points in the game won’t incur extra losses. NOTE that ff you decide to cap your losses, your winnings will also be capped at the same level.
Popular Types of Points Bets
We have used just a few basic examples of points bets in our guide above, but when points betting really starts to get interesting is when you delve deeper into some of the stats and time based markets that are on offer! If you’re looking to place a points bet on an NFL game this weekend, some of the types of markets you will come across at PointsBet can be seen below.
You can view our full review of the PointsBet Sportsbook here! Or click the banner below to head directly to the PointsBet website and sign up for an account today! If you enter any of the PointsBet Promo Codes made exclusively for Total Sports Picks readers, you can score yourself a fantastic bonus on sign up.
PointsBet Promo Code 1 – FREE100 – Deposit $50 and receive $100 in bonus bets, giving you a total of $150 to bet with!
PointsBet Promo Code 2 – 2FREEBETS – Recieve two risk free bets up to $1,000 (1 x $500 fixed bet and 1 x $500 points bet)
PointsBet Promo Code 3 – BONUS2020 – 4 risk free bets up to $1,000 (2 x $250 fixed bets and 2 x $250 points bets)