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Odds Vs. The Competition
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Bottom Line
PointsBet is part of the legion of sportsbooks that are available to Colorado bettors. It offers a betting app that only the most sophisticated statistics wizards can take full advantage of. That said, its welcome bonus is among the most generous risk-free bonuses in Colorado. So, Colorado Sharp’s PointsBet promo code offers bettors excellent value.
Its odds are fairly good, but PointsBet comes into its own with their “PointsBetting” option. It allows bettors to wager on one side of a point wager and bet on how much they’ll win their bet by. If bettors win by ten points, they’ll win ten times their stake. It’s a new type of wager that could appeal to professional bettors who can predict point spreads and point totals. They’re risky wagers, but anyone can try it. Anyone who wants to test their betting mettle should seriously consider a PointsBet account.
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See PointsBet in Action
PointsBet Colorado Promo Code October 2022
PointsBet’s bonus offer is unique in that it’s split. New accounts using our exclusive PointsBet promo code: BESTOFFER can receive two risk-free bets totaling $2,000. Bettors can use up to $500 of those credits on fixed-odds betting and the remaining $1,500 for PointsBetting. PointsBetting allows bettors to wager on how much their team will cover the spread by. Both bettors’ winnings and losses multiply depending on how close or far bettors’ estimations are when the game ends.
| PointsBet Promo Code | BESTOFFER |
| Risk-Free Bet | Two Risk-Free Bets Up to $2,000 |
| PointsBet States of Operation | CO, IL, IN, IA, KS, LA, MI, NJ, NY, PA, VA & WV |
| Last Verified | October 2022 |
One of the unique attributes of PointsBet is its special PointsBetting wager, which allows bettors to place bets on how much their team will cover the point spread by, adding a multiplier for every point the score is over the spread when the game is called.
PointsBet offers $2,000 in risk-free bets: $500 for fixed-odds betting and $1,500 for PointsBetting. It’s a good opportunity to get some hands-on experience with a totally new type of high-risk, high-reward wager.
Fixed-odds wagers are the regular bets that bettors will find anywhere. PointsBetting is a special type of wager where bettors can choose their margin of victory. Bettors have two chances to take advantage of risk-free bets, but they can still miss both chances if they’re not paying attention.
Does PointsBet Deal Competitive Odds?
Yes, PointsBet offers quality odds across a wide variety of sports, but it’s always advisable to compare odds across the sports betting industry before placing a bet.
How Do Spreads & Totals Work?
These are the basic staples of sports betting. Point spreads help adjust the playing field between two teams. Let’s examine the betting line at PointsBet on Broncos-Seahawks in Week 1 of the 2022 NFL season.
| Team | Point Spread | Moneyline | Total |
|---|---|---|---|
| Broncos | -4.5 (-105) | -191 | O 41.5 (-105) |
| Seahawks | +4.5 (-115) | +160 | U 41.5 (-115) |
Denver is laying -4.5 points on the spread. If you’re betting the favorite in this game, check the market to see if -4 is available. Elite Sportsbook was offering Broncos -4 at the time of this writing. You never bet a favorite at -4.5 if -4 is available elsewhere.
Sportsbooks charge a fee to handle your bet, and this is known as the vig (short for vigorish). PointsBet’s vig on the spread bet translated to 4.71%. When standard odds of -110 are found on both sides of a bet, the vig computes to 4.36%. As long as the vig isn’t extraordinarily high, and it’s not here, the priority is to find the best odds on your bet.
The total for this game was set at 41.5. You can bet over or under this number, which represents the total number of points scored by both teams. Again, it’s critical to scour the market for the best number on your bet. If you want to bet the under, Elite Sportsbook was offering 42.5. You’d make your under bet at Elite.
This is why it’s important to have multiple accounts at different sportsbooks. It gives you the ability to make bets at the best available odds for your plays.
What are Moneyline Odds?
These odds are offered on a team to win the game outright. The final score is irrelevant. In our example above, Denver is -191 on the moneyline as the favorite. A $191 bet will return $100 if the Broncos win the game. Seattle backers can bet $100 to win $160 on the underdog Seahawks.
Finding the Best Futures Odds on the Market
Futures odds are always available on championship-deciding events like the World Series and Super Bowl. They can fluctuate much more than spreads and totals, so be sure to compare the odds being offered across the industry. Super 57 futures odds on the Broncos looked like this in early July:
| Team | PointsBet | DraftKings | FanDuel |
|---|---|---|---|
| Broncos | +1700 | +1600 | +1700 |
These odds on the Broncos are very similar, right? But what if you want to bet on the Seahawks to win Super Bowl 57? PointsBet offered the Seahawks at +12500, but DraftKings was dealing Seattle at +15000. You’d make that bet at DraftKings if you had accounts open at both sportsbooks. That’s too much value to leave on the table.
One final note on these betting markets. Sportsbooks are always mindful of their theoretical hold. This is the amount of money they expect to keep from a betting market. Lower theoretical hold means higher odds and payouts for bettors and vice versa.
Updated 7/6/2022
ColoradoSharp.com Is Officially Licensed By Colorado Division Of Gaming Enforcement To Promote Legal Sports Betting In Colorado
Colorado sportsbooks have had to expand their selection of games to remain relevant in the pandemic marketplace. Not all of them have been able to pull it off, but PointsBet boasts a wide selection of sports and leagues, including mainstream American favorites and niche interest sports. (No one’s going to claim Aussie Rules is mainstream in the United States, right?) Within each sport and league, PointsBet has many options too. Its soccer section is a seemingly endless abyss of leagues from around the world. Each league also has several game lines set a few days in advance.
However, PointsBet is only offering game lines a few days in advance. Most Colorado sportsbooks aren’t offering game lines more than a week out. Coronavirus cases can end matches hours or days before a scheduled game. Sportsbooks know this and have begun offering fewer game lines in advance of scheduled matches. PointsBet practices this too, and bettors shouldn’t expect to see different until the pandemic ends.
Unsurprisingly, PointsBet makes it easy to move money to and from bettors’ wallets. Its deposit options include a common selection of sportsbook deposit methods:
- Online Banking
- PayNearMe
- PayPal
- ACH/E-check
- PointsBet Mastercard
- Cash at cage
While online banking is the most seamless online option, bettors can deposit funds in person at a participating PayNearMe location. Although, the other five options are better than PayNearMe.
PointsBet’s withdrawal methods are a little different. It has different withdrawal methods available for each state it operates in. PointsBet’s Colorado withdrawal options are:
- Online banking
- ACH/E-check
- PointsBet Mastercard
- Cash at cage
They’re both secure online options that comply with identity verification laws. Withdrawal options are always fewer than deposit options. Receiving money is easier for sportsbooks than paying it back out. Paying a money launderer by mistake is worth a hefty fine for sportsbooks. PointsBet’s options are as extensive as bettors should expect to find anywhere else.
PointsBet gets mad props for making a black background work. The text and numbers are legible, and they don’t strain the eyes. Switching between fixed-odds betting and PointsBetting is easy, too. Bettors can click on the lines they’re interested in and find the option in the margin between the top banner and the game lines. The different colored borders around each box make it easy to select options, too.
The hard part about the PointsBet app is the filters that automatically apply when bettors select a sport. When bettors pick a sport, the first lines that come up are the in-play lines. Bettors can then choose between featured lines and the lines that are coming up next. If bettors scroll to the right, they’ll find the filters for all available competitions and futures bets. It’s a little different from the default option of seeing available lines altogether like other sportsbooks.
However, it’s better than the menu option. It’s a mess of featured sports categories, game lines, and live games. Bettors are better off ignoring the menu option for navigation and sticking to the sports tab onwards. Overall, PointsBet has an easy app to navigate and wager on. It has a few navigational weak points, but bettors will enjoy using it.
PointsBet is one of the most interesting newcomers to the Colorado sportsbook landscape. It offers a new type of over-under betting. Between PointsBetting and fixed-odds betting, PointsBet offers new ways to bet. Its odds, welcome bonus, and depth of choices are competitive. Its deposit and withdrawal options are on par with industry standards. There are only a few shortcomings with its app. However, no sportsbook app is perfect, and PointsBet makes it easy for newcomers and sports betting pros alike to find their way. It’s a strong addition to a competitive industry.
How To Register For A PointsBet Sportsbook Account
PointsBet has an easy signup process. Bettors hit the signup option and fill out two pages. The first page begins by asking for a bettor’s state, name, and email. The second asks for a bettor’s preferred salutation–odd to ask for on the page after a bettor’s name. But the date of birth, cell phone number, and the last four digits of a bettor’s Social Security number continue the standard sportsbook signup process. Bettors finish signing up by entering their address and checking a few terms and conditions boxes. Signing up is not a fussy process.
Is PointsBet Legit?
Yes. PointsBet is a legitimate company that doesn’t engage in illegal practices. It seems like a low bar to clear, but many other sportsbooks aren’t accountable to any authority. Here are five reasons PointsBet stands out from the crowd of illegal sportsbooks.
Terms And Conditions
There’s an email phishing scam that pretends to be Microsoft asking for personal information. One of these scams tells is its terms and conditions. The terms aren’t linked to any terms or conditions. It’s just black text at the bottom of the email. That’s because the scam has no rules that it abides by. In contrast, PointsBet has a terms and conditions page that outlines their commitments to their bettors. It’s the first sign of a legitimate business, and it shouldn’t be taken for granted.
Colorado Limited Gaming Commission
The Colorado Limited Gaming Commission oversees all gaming in Colorado, so PointsBet is under their jurisdiction. The Gaming Commission can issue fines, suspend licenses, and even remove major players from the marketplace. They’re a powerful check on the gaming industry and keeps every sportsbook from wronging their patrons.
Colorado Sports Betting License
PointsBet’s Colorado gaming license forces it to adhere to industry rules. It’s what makes it subservient to the Colorado Gaming Commission. By applying for a license, PointsBet has agreed to:
- Undergo an independent pre-launch security audit.
- Submit background checks from executive management.
- Provide three years of financial statements.
The Colorado sports betting license sets the stage for sportsbooks to compete and take care of their customers.
Customer Growth Strategy
PointsBet can’t go into new states if it has a black mark in several others. Since it’s decided to play by state rules, it must follow them to continue expanding. Everyone wants to be the next first sportsbook in the states preparing to legalize sports betting. PointsBet’s reputation is critical to its success, and it’ll behave well to preserve itself.
Track Record
PointsBet’s news history includes several industry awards and optimism about its future. By itself, it’s not a guarantee of good behavior. However, its track record makes it staggeringly unlikely that it’s a bad actor in the United States’ heavily regulated market. So far, it doesn’t have scandals. Combined with its praise from the industry, bettors can feel secure betting at PointsBet.
Why Choose PointsBet Over An Illegal Betting Site?
PointsBet is subject to strict rules and powerful oversight. Bettors can be reasonably sure that if they wager at PointsBet–or any licensed Colorado sportsbook–that they’ll:
- Have strong security protecting their personal information.
- Receive winnings according to their sportsbook’s terms.
- Be able to wager without being in debt to a shady bookie.
While licensed sportsbooks are accountable to local governments, illegal sportsbooks are under no obligation to anyone. There’s no authority for bettors to appeal to, there are no industry regulations, and there’s no government that can easily shut an illegal sportsbook down.
Lacking a complaint department may be the least of a bettor’s problems at an illegal sportsbook. However, the complaint department’s absence is more serious than bettors may think. Not only do illegal sportsbooks have no reason to address bettor problems. But Colorado does not offer legal recourse for bettors who’ve been stiffed by illegal gambling operations. That means there’s no avenue for taking legal action against an illegal sportsbook. Bettors may help shut down an illegal gaming operation, but they won’t get their money back.
Unregulated sportsbooks can also run out of money. This was a common complaint when Coloradans used bookies. Poor cash management could result in bettors winning, but not getting paid their winnings. However, bolder illegal sportsbooks will simply refuse to pay winnings. It’s lucrative, and there aren’t any agencies that bettors can turn to for help.
This is especially true with offshore sites. All the components of the website may be spread across different countries. A server can be in one country and the staff in another. That makes it easy for a shady site to return repeatedly and difficult for any single government to shut it down. Bettors sacrifice the safety net of licensed sportsbooks at their own peril.
Why Bettors Can Trust PointsBet With Their Money
There are a few reasons bettors can trust PointsBet with their money, bank accounts, and Social Security numbers. First, PointsBet has undergone a security audit before launching in Colorado. That means an independent security auditor studied PointsBet security systems about three months before the sportsbook went live in Colorado. The auditor submitted its findings to PointsBet and the Colorado Gaming Commission. If the report included recommendations, PointsBet would have to implement them before allowing bettors to wager.
However, there’s a more subtle form of security that bettors will likely miss. In the terms and conditions, PointsBet declares that bettor winnings and operational funds will be held separately. That’s critical to PointsBet’s business integrity. If bettors wagered $100,000 and PointsBet had to pay $75,000 to staff, they can’t pull from the bettor’s $100,000. PointsBet must wait until they’ve paid winnings to use any bettor money to pay operational expenses. That does two important things for bettors:
- It makes sure bettors have the amount of money to wager that they thought they expected.
- It makes sure PointsBet doesn’t run out of money to pay winnings.
PointsBet’s adherence to state security standards and common business practices like keeping bettor money and business money separate make it a trustworthy enterprise. Bettors can feel secure depositing and withdrawing money from PointsBet.
PointsBet Fact Sheet
| Legal Betting Age | 21 |
| Legal States | CO, IL, IN, IA, KS, LA, MI, NJ, NY, PA, VA & WV |
| PointsBet Colorado Partner | Double Edge Casino |
| Colorado Launch Date | 11/17/2020 |
PointsBet Sportsbook FAQ
Yes. If bettors have a Colorado account, then they must be in Colorado to wager at PointsBet. When bettors create their account, they select which state they’re creating the account for. The geolocation will probably choose the state for them. However, the dropdown box is available if bettors are registering for an account out of state.
No. Bettors can create an account from anywhere. PointsBet needs the same information regardless of the state the account is created in. However, bettors won’t be able to wager on PointsBet unless they’re in the state that matches their account. PointsBet uses smartphones’ location technology to determine whether bettors are in-state. They can also figure it out if a laptop or tablet is connected to the internet. The geofence may be fidgety near Colorado’s border. But anyone in the middle of the state should be fine.
Yes. It’s the first category that pops up when bettors select a league on PointsBet. Game lines are arranged by:
- In-play lines
- Featured lines
- Upcoming lines
- All competition lines
- Futures
Some of these categories may be unavailable for certain sports and leagues. The in-play category won’t be available if there aren’t any live games. Upcoming lines won’t be available if only futures are available. However, featured lines, all competitions, and futures are ubiquitous.
Yes. It has an esports category available on its full list of sports.
Direct banking. PointsBet integrates it into their app, so bettors can make their first deposit instantly. Bettors select their bank, then get redirected to their bank’s login page. At this point, PointsBet doesn’t see any of the information that bettors type in. (PointsBet even has a little message that says so.) Bettors can make the deposit, then get redirected to the PointsBet app with money in their sports betting account. It’s easy, convenient, and instantaneous–easily the best option.
By withdrawing funds. If bettors click the drop-down arrow in the top-right corner of the screen, they’ll find the option to withdraw under the deposit option. Bettors select withdraw, then enter the amount they want to send to their bank accounts. One to three business days later, bettors should see their winnings in their accounts.
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