What is Pointsbetting?
PointsBet offers a different bet type than other sportsbooks called PointsBetting. The guide explains what it is and strategies to hedge their Risk Free PointsBet.
How It Works
If your bet wins by one point (unit), you would win 1 multiplied by your bet amount (wager). If your bet wins by 6 units, you win 6 times the wager, and so on.
Conversely, if you lose by 1 unit, you would lose 1 times the wager. Lose by 10 units, lose 10 times the wager.
See the screenshot below where $10 is bet on Under 235 points.
- If 225 points are scored, you win $100
- 235-225 = 10. 10x$10 = $100
- If 240 points are scored, you lose $50
- 235-240 = -5. -5x$10 = -$50
Not all PointsBetting lines use whole numbers. The example below shows a $10 bet on over 5.8 goals in a hockey game.
- If 7 goals are scored, you win $12
- 7 - 5.8 = 1.2. 1.2x$10 = $12
- If 4 goals are scored, you lose $18
- 4 - 5.8 = 1.8. 1.8x$10 = -$18
In your bet slip you can see your max winnings and max losses. Certain markets offer the ability to limit your risk of potential losses from a bet with the stop loss slider. This will also limit your potential winnings. The example below has a max loss and winnings level of 20x the bet amount.
In other markets, you can artificially implement a stop loss without restricting the max winnings. This is by betting on a market with a limited downside but no limit to the upside. An example is the total goals in a period of a hockey game. If you bet $833.33 on over 1.8 goals the worst case scenario is 0 goals are scored and you lose 1.8 units, or $1,500. However, the max winnings implemented by PointsBet is 10x, or $8,333.30.
When placing your bet, you will also see a balance withheld. This is the amount required in your account to cover a percentage of your max loss should your bet lose.
Hedging a Risk Free PointsBet
DarkHorse does not directly support hedging Risk Free PointsBetting. There are a few approaches most matched bettors take.
NOTE: These have the risk of losing money.
Also, be aware that, as of the time of this article, PointsBet Terms and Conditions state that the Stop Loss Adjuster cannot be used in conjunction with a Risk Free Bet.
- Place a bet with limited downside that is set to match the Risk Free amount and higher upside. If you lose on PointsBet, convert the Free Bet and recoup ~70% of your losses.
- Adjust your bet amount so you will not lose more than the Risk Free amount. If you lose on PointsBet, convert the Free Bet and recoup ~70% of your losses.