Virginia sports bettors today have another option when it comes to placing wagers via a mobile betting app.
PointsBet launched statewide this morning, giving Virginians 11 sports betting apps to choose from. As with most sports betting apps, new users can get a generous bonus offer by signing up with PointsBet Virginia.
New users can get two risk-free bets of up to $2,000. The first $500 comes in the form of a standard risk-free bet. The second is a $1,500 risk-free Pointsbetting wager that is explained below.
That’s a mind-boggling number for sports bettors who have that kind of cash. It does not, however, have to be that high. If you want to make your first bet of $50, you can do that, too.
A risk-free bet offer that high makes PointsBet stand out, but it’s not the only thing about PointsBet that is unique.
The Concept Of PointsBetting
With every other sportsbook, if you place a bet on a side or total, your bet is graded as a win, loss, or push no matter the number of points by which you were right or wrong.
PointsBetting at PointsBet, however, gives you the opportunity to win (or lose) more based on how good (or bad) your wager was.
Consider the following example:
You place a $10 bet on the Washington Football Team to cover 4.5 points against the Philadelphia Eagles on Sunday. At other sportsbooks, it wouldn’t matter if Washington lost by four points, three points, two points, or one point, or even won the game outright. You would profit $10.
Conversely, if Washington loses by any number five points or above, you would lose your $10 wager.
With Pointsbetting at PointsBet, though, it is not straightforward like that. If you make the same $10 bet you would win $10 if Washington loses by four points – the maximum number of points Washington can lose by for you to win your bet. If Washington loses by three points, you would win $20. If Washington loses by two points, you would win $30.
On the other hand, if Washington loses by six points, you would lose $20. If Washington loses by seven points, you would lose $30.
Simply put, if your bet wins by one point (or unit) you would win 1x your bet amount (stake). If your bet wins by two units, you win 2x your stake. If your bet wins by 10 units, you win 10x your stake. It’s the same rules if your bet loses.
The good news is that if you’re not quite that risk-averse, you do not have to use PoiintsBetting. You can use PointsBet as you would any other sportsbook.
PointsBet In Virginia
PointsBet previously launched in seven other states before Virginia. It gained access to the Virginia market in November 2021 by partnering with the Virginia Lottery. PointsBet also partnered with Colonial Downs.
“Being awarded the opportunity to offer PointsBet’s market-leading speed and ease of use, unrivaled slate of betting options, and overall in-play excellence to the people of Virginia is a great achievement and responsibility,” PointsBet USA CEO Johnny Aitken said in a statement.
PointsBet’s odds are not the best among all legal sportsbooks, but they are competitive. In addition to the large welcome bonus risk-free bet, one of PointsBet’s best attributes is its deep selection of sports and leagues to bet on.
There are convenient deposit and withdrawal options, too, as well as an above-average app.