WHAT IS POINTSBETTING?
Unlike traditional fixed odds betting, Pointsbetting builds excitement until the clock hits zero. Every single point matters. Your payout changes up until the last second of the game.
PointsBetting takes a traditional wager like a spread (which requires the favored team to win by a predetermined number of points), a total (the cumulative number of expected points in a given matchup) or a prop (a wager related to player performance) and adds a unique twist whereby a bettor’s potential winnings or losses aren’t fixed, but variable right until the end of the game.
If your bet wins by one point (or unit), you would win 1 multiplied by your bet amount (wager).
If your bet wins by 2 units, you win 2 times the wager. If your bet wins by 10 units, you win 10 times the wager.
Conversely if you lose by 1 unit, you would lose 1 times the wager. Lose by 10 units, lose 10 times the wager.
WHAT IS THE STOP LOSS SLIDER?
All pointsbetting wagers have your max win and max loss levels displayed in the betslip when you go to place a bet. This shows your potential winnings, as well as potential losses should your bet miss.
For certain markets we offer the ability to limit your risk of potential losses from a bet with the stop loss slider. This will also limit your potential winnings.
Risk-averse bettors have the option of choosing their own customized multiplier caps — or “stop losses” — which limit the potential win/loss multipliers for a specific wager. So if a bettor chooses a stop loss of 5x and makes a PointsBetting wager of $1, he or she can win or lose no more than $5 regardless of the outcome of the game.
In addition, this also affects how much you can win on the bet. Using the above example, if you choose a Stop Loss of 5x, your max win will in turn also be 5x.
WHAT IS THE BALANCE WITHHELD?
When placing your a Pointsbetting bet, you will also see a balance withheld. This is the amount required in your account to cover a percentage of your max loss should your bet lose.
Depending on the multiplier cap of a given market, part of a bettor’s balance is withheld to cover potential losses. Regardless of the cap, bettors are always shown the “Balance withheld,” “Max win level,” and “Max loss level” of a market before finalizing a PointsBetting wager.
A majority of the time your 'Withheld Balance' will be 80% of the potential Max Loss on the bet. You must have this amount available in your balance in order for it to be accepted. If you do not have the Withheld Balance available, your bet will be rejected or re-quoted to an acceptable amount.
If you win the Pointsbetting bet, the withheld balance is returned to your account and the winnings are added on top of that amount. If you lost the Pointsbetting bet, a portion of the withheld balance may return to your account based on the amount you lose.
You are able to see the Withheld Balance in your normal balance section of the app by clicking the arrow in the top right corner.
WHAT ARE WIN / LOSS CAPS?
Each market available for wagering has its own unique “multiplier cap,” which varies based on the volatility of that specific market. For example, some markets may allow for a win/loss multiplier of up to 250x, while other markets could be capped at 10x.
This is preset when the market is made available on site and cannot be adjusted by our Sports Analysts. You are able to adjust your own 'Stop Loss' based on these caps.
The Max Win and Max Loss cap are the maximum amount of funds you can win or lose on the market. If you hit the Max Win amount those are the funds that will be credited to your account. Anything additional is not added.
Similarly with Max Loss, if you hit the maximum amount those funds will be subtracted from your balance. Any additional losses are not incurred and that amount is written off by PointsBet.
Consider a bettor who wagers $1 on Team X as a favorite of 7 points. If Team X wins by 13 points — covering the spread by 6 points — that bettor will earn a profit of $6 (or 6x his or her original $1 stake). Conversely, if Team X wins by just 1 point — failing to cover the spread by 6 points — that bettor will lose $6 (or 6x the original $1 stake).
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