PointsBet Sportsbook is coming to Colorado in partnership with Cripple Creek’s Double Eagle Hotel & Casino. Launch plans include the opening of a retail sportsbook at the Double Eagle casino and statewide mobile betting for customers 21 or older.
PointsBet Colorado has not provided a firm launch date, but the wait should not be long as the firm holds a license from the Limited Gaming Control Commission (LGCC) and has a track record of successful launches in other states.
Although PointsBet is not yet live in Colorado, we know what to expect from its operations in New Jersey, Indiana and elsewhere as a regulated sports betting operator. Today’s PointsBet review will draw partially upon its operations in other states and partially upon what we know from company statements and press releases.
Unlike its operations in other states, the PointsBet-Colorado relationship will extend beyond merely accepting wagers from residents. In 2019, PointsBet selected downtown Denver to serve as the home of its new North American headquarters and to hire between 150-200 new employees.
PointsBet was originally founded in Australia and commenced online betting there in 2017. Although PointsBet does brisk business in Australia, company CEO Johnny Aitken has stated in multiple interviews that the long term plan from day one was to target the US sports betting market. PointsBet also has a major partnership in place with NBC Sports to serve as the sports broadcaster’s exclusive betting partner across all digital and broadcast platforms.
- Visit PointsBet online at: www.pointsbet.com
- Mobile apps available for: iOS and Android
- Colorado licensing status: Approved
- Can I bet on Colorado college games at PointsBet? Yes. Colorado law allows licensed operators to accept wagers on college games, including college games involving Colorado teams.
- Who’s allowed to bet online at PointsBet? Under state law, sportsbooks may only accept wagers from customers who are 21 or older and located within state lines.
- Land-based casino partner: Double Eagle Hotel & Casino
How PointsBet Colorado Works
The PointsBet business model is unlike that of any other sportsbook. Although PointsBet offers a full menu of standard sports wagers, it is better known for its unique PointsBetting wagers that function differently than other types of bets.
Where PointsBetting differs from standard wagers is that wins and losses are variable. Rather than merely betting a set amount on the outcome, users can instead bet a certain dollar amount per point and get paid more the more they are right (and lose more the more they are wrong).
For example, a user could place a bet on the over in a points total on a Broncos-Chiefs game for $10 per point. If the total is set at 46 points and the true total finishes at 51 points, the bettor would win a payout of $50 ($10 per point at 5 points over the total). Likewise, the bettor could potentially lose $50 if the actual total came up five points short of the projected total.
The same concept can also be applied to moneylines and other types of wages. To use another example, a customer could bet $1 per point on the Broncos at -2. If the Broncos win the game by 7 points, the bettor would earn a $5 payout because the Broncos covered the spread by five points.
When it comes to PointsBetting wagers, bettors do run the risk of losing more than they wagered. This is a high risk, high reward from of betting. However, the PointsBet platform does allow customers to set maximum win/loss thresholds in order to properly manage risk.
PointsBet Bonuses and Promotions
PointsBet is investing significant marketing spend on acquiring new customers, and much of that spend goes straight to bonuses and promotions. New customers can claim free bets in return for signing up while existing customers can take advantage of the many ongoing promos PointsBet runs as a matter of course.
New Customers: Two Risk Free Bets Worth up to $200
All new PointsBet customers qualify for two risk-free bets worth up to $200 in total. Each risk free bet is offered as follows:
- 1st Regular Sports Bet: Place your first traditional sports wager at PointsBet and if it loses, your wager will be refunded with up to $100 in site credit
- 1st PointsBetting Wager: Place your first PointsBetting wager and if it loses, PointsBet will refund it with up to $100 in site credit
Ongoing Promos: New Offers Each Week
Since entering the US, PointsBet has run a heavy assortment of promotions designed to attract new customers and to keep existing bettors happy. The promotional lineup changes every week and is generally matched to the sports of the season.
For example, during the NFL betting season, PointsBet often runs odds boosts for big NFL games, extra cash for every touchdown your team scores and early payouts if your team gets ahead by a certain number of TDs. In one instance, PointsBet even hosted a promo that paid early on all NBA wagers for customers whose teams were winning at halftime.
Other promotions include a refer-a-friend program, daily odds boosts on select games and enhanced payout parlays. The exact offers are always changing, but customers can log in any time to see the latest offers or sign up for e-mail alerts.
Good Karma Payouts
PointsBet has a knack for marketing, and one of the most prominent examples of this is the occasional Good Karma Payout that inevitable earns favorable press coverage. Occasionally, PointsBet will announce a Good Karma refund for all customers whose bets were derailed by exceptionally bad luck or poor officiating.
In one example, PointsBet refunded all Yankees American League and World Series futures wagers with free bets after the Houston Astros’ sign stealing scandal broke wide open. Good Karma payouts are unpredictable, but they always seem to come just when bettors need them the most.
Sports Covered at PointsBet.com
PointsBet Sportsbook covers all the major sports of the world but there is definitely an emphasis on the major North American leagues. Pro and college football, basketball, baseball and hockey occupy the highest priority, but bettors will also find markets for MMA, international soccer leagues, rugby, motor racing and more.
The full list includes:
- Aussie rules football
- Motor Racing
- Rugby League
- Rugby Union
Types of Wagers Offered
The PointsBetting wagers described above are the key selling point that makes PointsBet stand out from other online sportsbooks, but customers will also find a full selection of other wager types.
In fact, PointsBet has stated in the past it still strives to offer even more standard wagers than any other sportsbook on the market. The variety includes traditional moneylines and point spreads, point totals, props, first half/second half markets and in-play betting.
PointsBet.com also supports futures and other long-term props covering events such as the NFL Draft.
Many wager types are supported by the cash out feature, which allows customers to close out bets early at a reduced payout to either lock in a win or to limit losses on a wager that isn’t panning out.
PointsBet Mobile Apps
Colorado sports fans can bet online at PointsBet.com or through one of the mobile apps issued for iOS and Android devices. In-person registration is not required in Colorado, meaning customers can sign up from anywhere within the state.
iPhone users: Visit PointsBet.com for a link to the appropriate download link or open the App Store and search for PointsBet.
Android users: Visit PointsBet.com to download the app directly from the website. The Play Store does not allow gambling or sports betting apps, even if they are offered by licensed providers. The PointsBet website provides clear instructions for downloading and installing the app directly.
The PointsBet app itself is best described as sleek. Different pages on the app load instantly, wagers are easy to place, and the design style makes navigation easy. There are no obvious weak points in terms of functionality.
App users can navigate through the various sports betting options through a dropdown menu that displays all available leagues, in-play betting events and open promotions. Tapping the odds listed next to any wager will add that bet to the betting slip where customers can select an amount to wager and combine multiple selections into parlays.
The PointsBet website provides a basic help section that answers a handful of questions and personal assistance can be reached via e-mail or live chat. Human support is available 24 hours a day, 7 days a week.
PointsBet Banking Methods
PointsBet accepts a small but effective number of deposit methods:
- Visa / Mastercard: Debit cards and credit cards with the Visa or Mastercard logo are accepted. If customers have any problems depositing with a credit or debit card, PointsBet recommends they contact their bank directly first. In many cases, the issue is due to the bank automatically blocking transactions to online betting sites.
- Online Banking: Customers can choose online banking to send money straight from their bank account to their PointsBet account.
- PayPal: Anyone with a PayPal account may also use that for instant deposits and withdrawals.
PointsBet complies with responsible gambling regulations in all states in which it operates. Additionally, the PointsBet website and mobile apps offer several ways to limit spending and/or time spent gambling.
- Deposit Limits: Customers may set a maximum amount they are allowed to deposit every 1 day, 7 days or 30 days. For example, customers may restrict themselves from depositing more than $100 a day or more than $500 a week if they wish.
- Maximum Bet Limits: Customers may also set a maximum bet limit by logging in and visiting the “responsible gambling” link.
- Maximum Spend Limits: Customers may limit the total amount they are allowed to wager each 1 day, 7 days or 30 days.
- Time Limits: Customers can set a time limit in which their accounts will be suspended for the rest of the day after spending X hours online.
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