Legalized in 2019, the sports betting industry is developing quickly in Colorado. Driving the expansion of sports betting, is a new top dog entrant – PointsBet.
PointsBet is an Australian owned company, with a wealth of experience in the betting market, in particular Australian horse racing. It now brings its expertise over here to Colorado.
Just like its unique offering of points betting, it is investing big with hopes of big returns. Like a boxer, looking to land the knock out punch and be a winner, it has already forged strong partnerships with the University of Colorado, the Denver Nuggets, Colorado Avalanche and Colorado Mammoth.
PointsBet is not holding back, in what has become an extremely competitive market in Colorado.
Since the opening of Colorado sports betting, retail sportsbooks have been launched at the major casinos located in Black Hawk, Central City and Cripple Creek. In addition, the mobile app platforms has seen more than ten (10) flood the State, and PointsBet is one of them.
In fact, the PointsBet app is the fastest downloaded sports betting app in the US.
We review what makes PointsBet so popular among U.S. Sports Bettors, discuss their presence and plans in Colorado and specifically Denver, their unique betting feature of points betting, the PointsBet betting site and mobile app, promotions and lastly their history.
Popularity of PointsBet
There is no doubt that PointsBet is becoming hugely popular in the U.S. with many analysts regarding it as the fastest growing sportsbook. Not only is it present in Colorado, but also found in Illinois, New Jersey, New York, and Iowa. In the September 2020, it formed a partnership with NBC Sports which permits PointsBet to access digital media platforms across the country.
With the NBC sport partnership alone, PointsBet will have exposure that no other competitors would have.
Specifically in Colorado, it is the first sports betting company to form a partnership with a University (in fact the first in any state of the US). No it is not targeting underage gambling, since the laws in Colorado requiring a minimum age of 21, but it is developing a bond with alumni and hoping that this translates to a better experience.
In other smart moves, it has partnered the Avalanche, Nuggets, Mammoth and Altitude TV – all whom have home games at The Pepsi Center. The Pepsi Center has recently increased the speed of its Wi-Fi, which will enhance further the usability of the PointsBet app.
Though we’ve touched on the strategic partnerships and marketing moves that PointsBet has conducted to raise its profile, it’s their unique betting feature and quality of its sport betting site and mobile app that bettors are drawn to.
Points Betting – only offered by Pointsbet
All sportsbooks in the US offer fixed odds betting. This is a traditional form of betting whereby, if you place a bet, the outcome of winning or losing is fixed at a particular amount. As an example: you wager $100, if you win, you get $50. And if you lose, you lose $100. The return is fixed.
Points betting will increase your winnings and losses depending on the margins.
So, the more you win by according to the scoreline, the bigger the return. Conversely, the more you lose in relation to the scoreline, the bigger your loss.
Points betting, is therefore a much riskier form of betting when compared to traditional fixed odds betting.
It is with this form of betting, that many bettors are attracted to Pointsbet.
In particular the bettors that love to analyze odds, and create various forms of betting structures, use points betting to multiply winnings while keeping losses to a minimum. No other sportsbook in the US offers points betting, only Pointsbet.
But that’s not to say that Pointsbet doesn’t offer fixed odds either. It offers both forms of betting and plenty of it.
Oddly, PointsBet has yet to launch its mobile app in Colorado, even though it is up and running in Illinois and is doing extremely well. We suspect that it is only a matter of months (if not weeks) that the app will become available to Colorado residents.
If Illinois is any guide, the mobile app will be available both on iOS and Android.
It will be simple yet intuitive to use, with not being overcrowded with functions that bettors do not often use.
Sports Betting Online Site
Although, most sports bettors prefer to place a bet via a mobile app, I personally prefer to place a bet online. Betting online allows me to easily transfer betting odds to my trusty Microsoft Excel model and calculate probabilities. I wouldn’t say I’m any good at it, but I do enjoy the analysis. The PointsBet site is easy to use, copying numbers across to Excel is a breeze, and it works on any browser – Chrome, IE, Firefox and Opera.
Sign Up Risk Free Betting
Sportsbooks are fiercely competing against each other with offer promotions to bettors, and this translates to a great win for us. As a result, PointsBet is offering the best Risk Free Betting promotions for new bettors.
New bettors are offered up to $1,000 in risk free bets. $500 is for fixed odds betting, and $500 is for points betting.
This promotion (currently) more than doubles the amount of risk free betting than its competitors.
If you are a new bettor, you’ve got nothing to lose with playing with PointsBet.
PointsBet is a legitimate onshore sportsbook that has acquired licenses in US States to expand its existing market share in Australia. Floated on the Australian stock exchange as a publicly listed company, it is required to meet strict Australian regulatory requirements. Its origins began in the Australian horse betting industry, which has since expanded to sports betting and now venturing into the US.
Its recent announcement with NBC Sports has seen its share price soar by over 100%.