PointsBet welcome bonuses come in the form of risk-free bets, but they are for two different types of wagering. One is for fixed odds betting and the other is for PointsBetting wagering, but we will examine each of these PointsBet welcome bonuses thoroughly.
You can take advantage of two PointsBet welcome bonuses, and while they may be similar, there are a couple of key differences to keep in mind when trying to use them.
The two welcome bonuses PointsBet users will see are the $500 fixed-odds risk-free bet and the other is the $500 PointsBetting risk-free bonus.
Each one of them can only be redeemed once, but with both bonuses offering risk-free bets worth up to $500, it means new users can bet up to $1000 and feel confident in their wagers. The money will be awarded as Bonus bets within 24 hours after the wager is settled.
We’ll break down each one further so that you don’t run into any trouble when trying to take advantage of these promotions.
PointsBet $500 Fixed-Odds Risk-Free Bet
For this PointsBet welcome bonus, the key thing to keep in mind is the betting line you put action on.
For example, you can’t put $500 on live betting odds as your first bet and expect to receive this amount in bonus funds in the event that your live bet loses.
Instead, for your first bet, you can be reimbursed up to $500 if you laid that amount down on a team or player to beat the spread, moneyline, or hit the over-under before the match begins.
PointsBet can change these rules at will so you will always want to read the terms and conditions.
PointsBet ‘PointsBetting’ $500 Risk-Free Bet Explained
The PointsBet welcome bonus for PointsBetting is something that absolutely has to be something sought out by those who are looking to use this feature for the first time.
For those unfamiliar with PointsBet, ‘PointsBetting’ is a staple feature of the platform.
When betting on the Over/Under you can be rewarded substantially more for how right you were, or punished heavily for how wrong you were.
For example, let’s say that the Over/Under for a Lakers vs. Celtics Game is set at 212 points and you bet $10 on the Over. Let’s then say that the combined final score of the game ended up being 218.
You would then win $60. This is calculated by your original wager multiplied by the number of points you were correct by.
Alternatively, if the final combined score was only 200 and you took the Over, you’d owe $120 instead of losing your original $10.
You can set limits for how much you can win/lose manually, but having $500 in bonus bets in case your first PointsBetting wager is a loser provides an extra layer of security and reassurance for trying a sports wager that is significantly riskier than most.
How To Use PointsBet Welcome Bonus Funds
The next phase of this PointsBet welcome bonus is knowing how to actually cash out these bonus funds. A few rules to keep in mind are:
- Once you receive your reimbursement, you can not immediately withdraw that money back.
- Bonus funds will have to be used to bet on something within seven days, otherwise, they will be forfeited.
- You also can’t transfer bonus money to someone else.
- The odds you use bonus funds on have to be -200 or more. This is to stop people from hammering heavy favorites.
- If you lose a bet with your bonus funds you will not get them back.
- If you win a bet using bonus money, you will only receive the winnings from that wager and not the original amount you staked.
- Bonus funds cannot be used to bet on both sides of the lines, hedge bets, or for any complicated wagers.
After examining the stipulations that come with bonus funds gained through PointsBet’s welcome bonuses, you’ll see there is still a bit of risk involved. This is true with any sportsbook sign-up bonus.
However, these risk-free betting opportunities still provide bettors with a sizable cushion in the event their first bet loses and still provides an extra chance to recoup any lost amount from that original wager.