If you’re a New Yorker who isn’t familiar with the concept of points betting, you’re about to get a risk-free chance at learning all about it. Operator PointsBet New York has added to the number of active online sportsbooks in the state.
To help facilitate your education, PointsBet Sportsbook has a welcome offer that could be worth up to $2,000. It offers all the traditional moneylines, point spreads, props, and totals you’d expect in addition to its unique points betting model.
PointsBet New York launch offer details
PointsBet is the sixth active legal online sportsbook in NY. The NY State Gaming Commission cleared the app to start accepting wagers on Tuesday, Jan. 25.
That leaves only three of the nine licensees still dormant in the state. There is still no official word from Bally Bet, Resorts World, or WynnBet as to when any of them will take their operations online in NY. They may do so in tandem or separately.
With this launch, PointsBet gets live in NY not only in time for Super Bowl LVI but the AFC and NFC championship games as well. The NFL playoffs have been part of NY online betting‘s successful start.
Through the first two weekends, NY bettors have wagered over $150 million and created more than 1.2 million accounts. With PointsBet now joining the fray, those numbers stand to grow.
That growth could be spurred by PointsBet’s offering of two risk-free first bets that together can be worth as much as $2,000. It’s easy to take advantage of them, and one of them offers a different experience.
How to get in on the PointsBet New York $2,000 free bet offer
The most important consideration is whether you qualify. In order to be eligible, you need to be at least 21 years of age. You must also be new to PointsBet. If you’ve ever wagered with the app in New Jersey, for example, you can’t get in on this deal.
If you fit both of those descriptions, get the app onto your Android or iOS device. Then follow the app’s prompts to register your account. After the sportsbook verifies you, then you’ll need to deposit some funds.
How much you deposit will have a lot of bearing on the value of your bonus-free bets. Essentially the bonus works as a “mulligan” for your first fixed-odds wager and your first points bet.
PointsBet will cover your risk up to $500 for your first fixed–odds wager. In addition, it will cover your risk up to $1,500 in regard to your first point bet. So, what’s the difference? Glad you asked.
How is points betting different?
Essentially, the more right you are about the result of a sporting event, the more money you will make. However, you have to take on greater risk for that possible bigger reward. The more wrong you are, the more you stand to lose.
For example, say you want to place a points bet on the spread of a Brooklyn Nets game. You would take the sportsbooks’ traditional line on that spread and name the size of your wager per point. You would also decide on a cap based on the amount of overall money you’re willing to lose. That cap also acts as the ceiling for the amount of money you can win.
So let’s say that in the game you want to bet, the Nets are -4 on the spread. Further, suppose you want to put the cap at $200. Because the spread is -4 and your cap is $200, you’re risking $50 per point.
If Brooklyn covers in the game, you will win all of that $200. Should they win by just three, you’d win $150. If they lose by a point, the sportsbook will take $50 out of your balance. So PointsBet is willing to cover your risk in your first bet of this type up to $1,500. Here’s how that and the other free bet bonus work.
PointsBet has you covered for your first wagers
If you lose your first points bet, the sportsbook will still keep your money but will credit your account with a free bet worth the lesser of the amount you lost or $1,500. The other $500 free bet for fixed-odds markets works the same way.
If you put $100 on a total for a New York Knicks game, for instance, and lose, PointsBet will give you a free bet worth $100. The cap on the value of that deal is $500, though. It’s important to note that free bets are not free money, too.
If you place subsequent winning wagers with those free bets, you’ll only get the profit from those wagers. Be sure to check out all the conditions on the offer so you won’t have any surprises. While points betting isn’t for everyone all the time, it can be a surprisingly fun way to differentiate your plays.