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Long ago, horse racing promoters realized that competitions between mismatched opponents were boring. Meanwhile, bookies learned that it is difficult to coax bettors to wager when the odds are long. In other words, sports fans and bettors like evenly matched competitions. That’s why there are weight classes in Taekwondo, MMA, and other sports. Points in sports betting are used to even two unmatched competitors. In this guide, you will learn what points betting is, how it works, and expert tips to avoid rookie mistakes.
Points Betting: Short History
As mentioned earlier, early horse racing promoters were the first to realize they could save more interest by making the race between two heavily mismatched horses more competitive. Some genius came up with a great idea to add weights to the faster horses to slow them down. The idea was a boon to the industry as handicapping horses resulted in more closely contested races. As a result, fans and bettors were more drawn to the races, earning race trackers more money.
The handicapping system does not only apply to horses and does not stop at the race tracks. There is a system of handicaps in the game of Golf where two amateur golfers with varying skill levels compete; the better golfer’s score will be adjusted in a standard way. The same scenario applies to chess players, where a higher-rated player must start without one of their pawns or bishops.
And now, the whole story brings us to bookies, who use point spreads to create an artificial even bet between two mismatched players or teams.
Point spreads and spreads betting is pretty popular among sports bettors. The popularity and the profit associated with it led to an innovative feature inspired by the concept. Points Betting is an innovation in sports betting, making every point count.
Let us see how points work and count in this betting market.
What Is Points Betting And How Does It Work?
Innovated by PointsBet, points betting has become a popular way to gamble on sports. Hence, the number of online sportsbooks offering this unique feature is growing. It is a high-risk, high-reward sports betting market in which you win as much as you get the points right. In other words, your win or loss depends on the number of points by which your bet win or loses. The more you are right about a particular bet, the more you win.
When you points bet, the amount of money you win or lose depends on the game’s final score; if your bet wins by 2 points, you’ll win 2x your bet amount. Conversely, if your bet loses by 2 points, you’ll lose 2x your bet amount.
Points Betting 2 Most Common Bet Types
When it comes to sports Points Betting, the following bet types are the most common. Oddsmakers set these lines to determine the baseline for which the game’s final score will be measured. Remember, all markets have a cap or max win and max loss levels displayed in the bet slip at the time of bet placement.
1. Point Spread Points Betting
Suppose you points bet $10 on the Los Angeles Rams, who are 3 points favorite over the Cincinnati Bengals in the Super Bowl. If LA Rams wins the game by 7, covering the spread by 4, your winning will be 4x your bet amount, which is $40. Meanwhile, in this example, if you points wager on the Bengals, who are +3, you lose $40 because they lost by 4 points.
2. Over/Under Points Betting
Let’s say you believe an NBA game between the Golden State Warriors and Los Angeles Lakers will fall below the projected total of 274, so you place a $10 points bet on the under. The game ends in 260, so you will win 14x$10= $140. Conversely, if the game ends in 285, you will lose 11x$10= $110.
Fixed Odds Vs. Points Betting
Points betting fans say fixed odds are boring. The reason is that in fixed odds betting markets, like moneyline, you are stuck with the odds you locked your bet on. For example, if you wager $20 on a moneyline bet of -120 odds and the number dips to -125 before the match, you will get paid according to the -120 fixed odds.
Points betting, on the other hand, offers more excitement as every point matters, and your winning changes up until the very last second of the game.
Points betting is so much fun but involves a more considerable risk than fixed odds betting markets. Your loss depends on points, and you would lose your entire bankroll. For this reason, if you are new to sports Betting or have a limited budget, avoiding overinvolvement in points betting is suggested.
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Points Betting Pros & Cons
Every betting market and option comes with its hits and misses. There are several benefits and a couple disadvantages that come along with Points Betting. In this section, we take a closer look at some of the biggest pros and cons associated with this type of sports wager:
Points Betting Pros
1️⃣Extra load of excitement: every point matters until the very last moment. In other words, you must follow the events until the end because every point changes your net win or loss. The uncertainty and unpredictability add a ton of excitement to your gambling experience, and an extra amount of adrenaline will be pumped into your blood!
2️⃣Higher payouts and bigger profits: the idea behind points betting is the more you get it right, the higher your payout will be. This means you have a chance of winning BIG in this betting market. Imagine wagering $20 and getting paid 20x your initial stake based on the game result. Wow!
3️⃣Stop loss adjuster: PointsBet helps you minimize your possible amount of loss with a unique feature allowing you to adjust your maximum payout or loss by dragging the selector between 10x and 50x, as shown in the picture below.
For example, if you do not want to risk losing 50x, drag the slider to 30x max. This way, you will only lose 30x your stake if you lose by that amount or more. At the same time, you can only win a max of 30x your bet with these options selected. It goes both ways.
4️⃣Longer lasting bets: the outcome of your bet will not be determined until after the game ends. This means the game stays interesting down to the final play.
Points Betting Cons
1️⃣High chance of losing it all: like any form of gambling, the other side of winning big is losing it all. In this betting market, where your payout or loss is determined by points multiplied by your initial wager amount, the risk of losing all your money is high.
2️⃣Limited betting opportunities: unlike other Betting markets, like moneyline, limited sporting events are available for points betting.
3️⃣Limited online sportsbooks offering Points Betting: the market is pretty new and there are not many legit and trusted online sportsbooks offering points betting opportunities.
4️⃣Balance withheld: when placing a points bet, you will see a balance withheld. This is the amount required in your account to cover a percentage of your max possible loss should your bet lose. For example, you may bet $1, but the possible win or loss can be up to 40x in that particular bet. So, PointsBet holds a balance equal to a certain percentage of your max loss, depending on the market volatility. This makes it difficult to manage your bankroll and prevent big losses, especially for trouble gamblers and novice sports bettors.
Expert Tips For Points Betting
Points betting is mainly based on luck; hence, you don’t have much to say about the outcome. This betting market aims to have extra fun and higher chances of winning big. Still, this does not mean you should leave it all up to fate. Below are a few pro tips to keep in mind while placing a points wager:
- Study the game well. Don’t place wagers on random events you don’t know anything about. Being prepared and having knowledge is power, even in the case of the most unpredictable events.
- Take advantage of the stop loss adjuster to minimize your potential loss.
- Only points wager on the legit sportsbooks, like Bovada and PointsBet.
- Never gamble more than what you can afford.
- Never chase your losses.
- Look for high volatility and variance games, teams, and players. These are more solid betting options.
To Sum It Up
Sports betting is fun and exhilarating. New betting markets and opportunities, such as Points Betting, add to the excitement due to the extra level of unpredictability and higher payouts. Novice and pro sports bettors can enjoy the points bets alike. But knowing your limits, studying the sports Betting basics, and researching before placing a point bet is recommended.
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