Australian-based PointsBet is one of the fastest growing online sportsbooks and has been on a mission to expand its userbase globally. Founded in 2017, the company made its American debut in January of 2019, announcing the launch of its Denver-based U.S. headquarters a few months later. PointsBet is now looking to stake its claim in the Colorado sports betting market.
Despite its relatively new footprint abroad, PointsBet has made considerable progress towards becoming a household name in legal sports betting states in the U.S. The company signed NBA Hall of Famer Allen Iverson as well as NFL All-Pro cornerback Darrelle Revis to serve as prominent figureheads of the company and help them navigate the newly legal sports betting scene domestically. More recently, PointsBet inked a multi-year partnership with the National Basketball Association, giving them access to official NBA betting data and league marks.
The partnership strategy seems to be working, as their revenue has grown 126% over the past 12 months to $27.4 million.
When Will PointsBet Launch in Colorado?
In Colorado, sports betting was legalized on Nov. 5, 2019 after voters narrowly passed historic Proposition DD. The referendum allows sports wagers to be placed as of May 1, 2020. While PointsBet recently received their license to operate its online sportsbook within the state, CEO Sam Swanell says a May launch is “unlikely.” An official launch date has not been confirmed.
Where Is PointsBet Sports Betting Currently Available?
PointsBet started its betting operation in Melbourne, Australia in 2017. Two years later, the company partnered with the Meadowlands Racetrack in New Jersey, introducing their online and mobile sports betting experience to the U.S. market for the first time. Pointsbet is also available in Iowa and Indiana.
Who Is Partnered With SportsBet In Colorado?
Besides its strong partnerships with globally recognizable former athletes, PointsBet has made great connections within Colorado. The company announced its partnership with Double Eagle Hotel and Casino in Cripple Creek in late 2019, bringing its retail and mobile sportsbook operations to the state. They will work together to build out “a multi-faceted sports entertainment venue” including “a sports bar, multi-screen video and odds display wall, additional casino gaming options and on-site viewing parties for major sporting events.”
What Sports Are Available On PointsNet?
PointsBet offers a wide range of lines on 17 sports. This includes all popular domestic sports such as basketball, football, hockey, and baseball. Additionally, the company offers wagers on a plethora of different international sports and sports leagues such as rugby, cricket, and Australian football (AFL).
The following sports are available for wagering on the PointsBet platform:
- Mixed Martial Arts
PointsBet also promises the most markets on all four major U.S. sports leagues (NHL, NBA, NFL, MLB) of any company in the world. While this is certainly true for popular domestic professional sports, the number of lines available on comparable college events pale in comparison. Depending on the sport, NCAA games can include anywhere from three to 30 betting options.
Multiply Winnings With PointsBetting
In addition to the traditional betting experience, PointsBet offers PointsBetting, a way to boost your winnings if your team wins big. This method of betting is unique and only available on this platform. In a nutshell, PointsBet will multiply your stake as you win. For example:
- If a wager wins by one (1) point, a bettor would win 1x the original wager.
- If a wager wins by two (2) points, a bettor would win 2x the original wager.
- When a wager wins by wins by 10 points, a bettor would win 10x the original wager.
When using PointsBetting, the same multipliers would apply if you were to lose a wager by those amounts. Due to the dynamic nature of the option, potential winnings are not calculated before bets are placed and results are not finalized until the end of the game.
How Do You Deposit Funds Into Your PointsBet Account?
Depositing funds into your PointsBets account is quite simple. They offer a simple list of options that bettors are likely to be familiar with.
- Credit or Debit ($5 minimum, up to $50,000)
- ACH (eCheck)
- PointsBet Card
How Do You Withdraw Your Earnings On PointsBet?
Cashing out your earnings on PointsBet is just as easy as depositing funds. However, they only offer one option for withdrawals currently.
- Bank Transfer
What Can You Expect When Betting With SportsBet?
- Large number of markets for popular domestic sports PointsBet offers a plethora of betting lines to choose from when betting on basketball, football, hockey, and baseball.
- PointsBetting wager option PointsBetting allows for bettors to win big bonuses in the event of an unexpected blowout performance from a team or individual athlete.
- Great Customer Care While PointsBet does not offer phone lines currently, their customer service email and live chat options are very helpful. Agents are readily available to answer your requests promptly.
- Local Headquarters With the announcement of their U.S. headquarters in Denver, it’s clear the company has its sights set on making a huge impact in the Colorado sports betting market.
- Spanish language website PointsBet is one of the few websites to offer full betting support in Spanish, signaling the company’s mission to several different demographics within the country.
- Live Betting Unavailable Currently, PointsBet does not offer live betting on its platform.
- Single Withdrawal Option While a bank transfer is not the worst way to cash out funds, allowing for different withdrawal methods would be more convenient.
- Minimal lines on NCAA games In the U.S., NCAA’s March Madness gets better ratings than its professional counterpart, the NBA Playoffs. With between three to 30 lines depending on the event, collegiate sports bettors may have a hard time settling with PointsBet.
- Lack of PayPal support PayPal has become another wallet for many people to purchase products, games, and services online. If PayPal is your preferred method of depositing funds or cashing out, you are out of luck on PointsBet.
Will PointsBet Succeed in Colorado?
PointsBet is a fierce newcomer to the American market who will be looking to skim market share from industry front runners DraftKings and FanDuel. While this will not be an easy task for the Australian-based sportsbook, they are already making their mark in the states of Iowa, Indiana, and New Jersey with their revenue doubling over the past 12 months.
Unlike their competitors, however, PointsBet is laser-focused on providing a premium experience for the Colorado market. After announcing their U.S. headquarters will be based in Denver, it is clear the company has big plans for its operations within the state. While an official launch date for the platform has not yet been announced, PointsBet will be more than ready to compete with industry leaders in the Colorado market when it is finally available.
PointsBet Sportsbook in Colorado FAQ
By all accounts, PointsBet is a reputable U.S. sportsbook. The Australian-based brand controls its U.S. operations from offices in Jersey City, N.J., and Denver, Colo.
You must be 21 years of age or older to bet on sports using PointsBet in Colorado.
Cripple Creek’s Double Eagle Hotel and Casino has partnered with PointsBet to bring their online and retail sportsbook operations to the state.
Live betting is currently not available on the PointsBet platform in other legal sports betting states. However, the functionality may be implemented by the time it launches in Colorado.
There are a wide variety of different sports you can bet on using PointsBet. To date, the platform offers 17 different sports across several different countries, such as soccer, cricket, tennis, and all major domestic sports.