PointsBet offers new customers a very enticing risk-free first bet bonus worth up to $2,000. That is larger than the risk-free bets provided by all of its rivals, but how does it work? Read on to learn more about this exciting promo.
A Two-Part Welcome Bonus
If your best bets win, you keep the money. If they lose, you get a full refund, paid in site credit. Your site credit has a 1x playthrough requirement, and any winnings you earn will be paid in cash, which you can either withdraw or wager again.
The first part of the welcome bonus is simple, as it applies to a standard, fixed-odds event. For example, you could bet $500 on a team to cover the spread in an NFL game and receive a $500 free bet if you are unsuccessful.
A Risk-Free PointsBetting Wager
The second part of the bet is a little more complicated, as it applies to a Points Betting market. Points Betting is different from fixed-odds betting because your potential profit or loss is not fixed. Essentially, the more right you are, the higher your profit.
For example, you might find the Total Game Points option for a game between the Seattle Seahawks and the Los Angeles Rams set at 46-48. If you think there will be fewer than 46 points, you sell at 46. If you think there will be more than 48 points, buy at 48.
Your profit or loss is then determined by how astute your prediction is. For example, if you buy at 48 for $20 and there are 58 points in the game, you will earn a $200 profit. That is because the result would be 10 higher than the price you bought at, and that difference is multiplied by your bet amount to calculate your profit.
If there were 49 points in the game, you would earn $20. If there were 50 points, you would earn $40, and so on. If you bought at 48 for $20 and there were just 40 points, you would lose $160, as the total would be 8 lower than the price you bought at.
As you can see, nothing is fixed, so it is difficult to ensure you will lose $1,500 with your risk-free bet if it is unsuccessful. However, you can take steps to ensure the maximum you will lose is $1,500.
Choosing Your Bet Amount
For example, if you were to buy at 48 for $31.25, the maximum you could lose would be $1,500, as 48 multiplied by $31.25 equals $1,500. However, there is never a 0-0 tie in an NFL game. The lowest scoring NFL game thus far in the 2021 season was the Saints’ 9-0 win against the Bucs at the weekend. You might therefore decide to buy at around $38.50, ensuring you would lose $1,500 and get the full amount refunded as a free bet if there were just 9 points.
You can also place larger wagers, safe in the knowledge that if you lose, for instance, $1,700, then $1,500 of it will be returned as a free bet.
There is no precise way to ensure you hit that $1,500 figure on the majority of Points Betting options, but that illustrates some ways in which you can maximize the potential of this second part of the welcome bonus bundle.