Why bet with PointsBet?
PointsBet is the only Australian betting site that will allow you to place spread bets. PointsBet also offers all the betting markets that other betting agencies do to and, they do not disappoint when it comes to offering eligible customers valuable betting promotions. Like all promotions, they are not available to residents from NSW and WA. As if there weren’t already enough reasons to bet with them, PointsBet also offers the Best of the Best product, something that fellow newcomer BlueBet does not.
The sign up process
Become a new Palmerbet member
Deposit some funds
Start betting with the PointsBet
PointsBet is the only spread betting bookmaker that is licensed and regulated in Australia. PointsBet formed in 2017, and they are endorsed as an official betting partner of Australia’s major sports codes including the AFL and Cricket Australia. Spread betting allows you to place bets based on the points margin of a match involving two teams. It is a volatile form of sports betting as your final win or loss result is not determined until the end of the match and; you can lose more than your stake. PointsBet also offers traditional fixed odds betting and horse racing betting.
The ability to participate in spread betting is one of the major advantages of becoming a PointsBet account holder. In addition to this, be able to bet on the horses using conventional bet types. Betting with PointsBet is very similar to wagering with any of the top Australian betting sites, only you have the added bonus of being able to place spread bets.
How spread betting works
To explain how spread betting works, we will use an example from an AFL match between Collingwood and Melbourne. For the sake of this example, let’s assume the line is zero, and both teams are at odds of $1.92 to win the match. If you back Melbourne to win, and you stake $10; you will receive $10 back for every point that Melbourne wins by. If Melbourne wins by 20 points, you will receive $200. If Collingwood wins, you will lose $10 for every point they win by. A 25 point Collingwood victory would result in a $250 loss.
The PointsBet platform allows you to limit your losses from spread betting. For example, you could limit your losses in the event of a Collingwood victory by placing a $250 maximum loss level. However, your potential winnings are also capped, it is likely that they would also be capped at $250. Setting limits gives you more control over your bets and can reduce your risk substantially.
PointsBet withheld amounts
When you place a spread bet with PointsBet, you will see a withheld amount for the bet. PointsBet needs to withhold an amount from your account balance as the potential loss of the bet is unknown. You need to have enough funds in your account to cover the withheld amount. If you want to place another spread bet on a different market with PointsBet, you will need to have sufficient funds to cover both withheld amounts.