Jonathan Bachman/Getty Images. Pictured: Matt Corral.
Points Betting can seem intimidating to a casual bettor, but most feel that way because they don’t know exactly how it works.
Once you know what to look for, though, it can be one of your best bets because of the excitement and potential profit it brings to the table. That’s why I have a fun pick down for Week 1 of college football.
Making a standard pick with Points Betting is something a bettor should look to do when they think one team will cover the spread by a lot more than the listed number. If the bet wins by two points, they’d win two times their stake.
For example, if a bettor places a $10 wager on Team A as a 5-point favorite and it wins by 10 points, they’d win $50.
On Sunday, I had my eyes on Florida State, which was a seven-point underdog on PointsBet. If the Seminoles won by 14 points, I would’ve won 21 times my stake. A $10 bet would’ve netted me $210. If the Noles lost by 10, I would’ve lost $30.
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All markets have maximum win and loss levels in the slip when you place your bet, so you’ll always know what your potential winnings could be, as well as your losses.
PointsBet will withhold an amount when you place the bet to cover a portion of the risk. This withheld amount is displayed in the bet slip before you place the wager. The amount must be present in the bettor’s account when placing the bet, or the wager will not be accepted. After the bet is placed, that amount is unavailable to be used on any other market until your Points Betting wager is settled.
So, the worst-case scenario would be a 50-point loss, which would crush a bettor. If that occurred, the withheld amount would be forfeited. Since that’s only half the loss, the remainder will be taken from the bettor’s account.
If the bettor doesn’t have that amount available, pending bets from your account may be held to make up the difference. Don’t be worried about the potential for greater losses than your original stake, but be aware of your exposure and pick an amount to risk that fits your profile.
In certain markets, PointsBet will offer the chance to reduce potential losses from a bet, which would also reduce potential winnings.
For example, if you were on Florida State +7 and you set up a maximum of 20 points, that’s the most you can either win or lose. If the Noles lost by 30 points, you would only lose 20 times your wager.
Another bet type on PointsBet is the multiplier option.
For Monday night’s Ole Miss vs. Louisville matchup, I’m on the win margin multiplier, which is a bet on the margin of victory squared. A bet on over 125 means that if the winning margin is 15 points, the result is 225, and you’d win 100 times your stake. So a $1 wager would win $100. The maximum win/loss is capped at 1,500 times your stake, and the final result will include any overtime.
For Monday night’s game, the win margin multiplier line is 280, so our win margin will be 16.75. Let’s say we bet $1 and Ole Miss wins by 28 points.
Let’s do the math: 28 squared is 784, and 784 minus 280 is 504. So our $1 bet would win $504.
Clearly, Points Betting can get very intense very quickly. It’s a higher risk, but the potential for a higher reward is there as well. Make sure you’re clear on the rules of the wager and know how much you can win or lose. Compare the potential loss to your bankroll to ensure it suits you.
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