PointsBet Launches High-Risk, High-Reward NJ Online Betting Platform
Global sportsbook operator PointsBet on Thursday launched its online sports betting platform in New Jersey and it has a feature that is quite different — and risker — than the other NJ online sportsbooks on the market. Here’s how the company describes the “PointsBetting” feature:
On top of all traditional bet types, they will offer a new kind of wagering not seen in the U.S. — PointsBetting — rewarding players with more money the more they are correct. With the high-risk, high-reward offering of PointsBetting, how much users win or lose is determined by how accurate they are. For example, if a user bets $10 on the over, and the total ends 10 points over, that nets users $100. Stop-loss settings are able to be set by a bettor if they wish to limit their win and loss position. Users will still be able to make fixed odds wagers, which give a simple win-or-lose scenario.
Interesting twist and indeed pretty risky.
The Australia-based company probably will lean on this to differentiate itself in a crowded field. It’s operating through an agreement with Meadowland Racetrack, which is also partnered with FanDuel Sportsbook in New Jersey.
But in addition to the scaled wins/losses, PointsBet is offering reduced juice that indeed stands out: For example, for Sunday’s NFL Conference Championship games, the sportsbook has the Patriots +3 at the Chiefs with both sides priced at -105. Most sportsbooks in New Jersey (and elsewhere in the U.S.) are around -110.
“We’re extremely excited to bring PointsBet’s premium and game-changing sportsbook and signature betting options to the U.S.,” said PointsBet U.S. CEO Johnny Aitken. “By offering some of the world’s sharpest betting offers and prices, we have the back of all sports bettors, no matter how sophisticated they are, and we’re serious about offering a one-of-a-kind VIP betting experience.”
To help build its branding in the United States, PointsBet signed NBA Hall of Famer Allen Iverson and former NFL All-Pro cornerback Darrelle Revis to promote its products. When gearing up for its New Jersey launch, PointsBet released an advertising campaign named ‘The Answer,’ featuring Iverson.
Read our full PointsBet review and get access to our exclusive PointsBet promo code!
“We’re over-the-moon to work with an athlete of Allen’s caliber,” Aitken told SBC News back in October. “When people think of AI, they think of a renegade and cultural phenomenon that was known for his flash and style on and off the court. For those reasons, we saw the partnership with Al as a perfect fit to represent the PointsBet brand.”
PointsBet gives New Jersey residents an eighth mobile sports betting option, along with DraftKings, FanDuel, Caesars, 888 Sport, playMGM, SugarHouse, BetStars and William Hill.