Pointsbet article
Article

How to collect your PointsBet risk-free bet

15 March 2021

Pointsbet may only have arrived in the US a couple of years ago, but it’s already cemented its place as one of the most popular online sportsbooks in the country. In this article, we will walk you through the Pointsbet risk-free bet rules and where and how to collect the welcome offer.

Nils Edmondson

Nils Edmondson

Payments Expert

PointsBet Sportsbook → Why is the Aussie sportsbook proven such a big hit in the US, and where is it live.

PointsBet Welcome Offer → What does this popular risk-free bet really offer you as a new customer?

PointsBet Free Bet Rules → What does a free bet mean, and how can you use them?

Step 1 → Create an account

Step 2 → Make a deposit

PointsBet Risk-Free Bet Deposit Options What is the most effective, secure and reliable way to fund your account?

FAQs The most common questions regarding PointsBet risk-free bets.

pointsbet sportsbook

The Aussie online sportsbook first arrived on US shores in January 2019 and proved an immediate success. This was largely down to its PointsBetting function, which allows bettors to be rewarded or punished on a scale of how wrong or write their wager, and revolutionized the burgeoning US sports betting industry.

The online sportsbook would soon demonstrate that it was not just a novelty sports betting format but a reliable and slick product that had been developed and perfected over many years as Australia’s number one sportsbook.

It was New Jersey, the new home of American sports betting, that the sportsbook chose as the location for its launch, but it wasn’t long before the sportsbook began its relentless expansion across the country. They are now live in the following states:

  • New Jersey PointsBet first launched in the Garden State in January 2019
  • Indiana PointsBet are one of the states most used sportsbooks and also sponsor the Colts.
  • Illinois The sportsbook launched their online product in 2020 and since signed a partnership deal with the Bears.
  • Iowa PointsBet are one of only three licensed sportsbooks in the Hawkeye State.
  • Colorado The state has proven an unlikely sports betting hub, and the local bettors have certainly taken to PointsBet. The University of Colorado recently signed a partnership deal with PointsBet.
  • Michigan The state went live in 2021, with PointsBet one of the first online sportsbooks to launch in the Wolverine State.

Despite its success, PointsBet has had to contend with some stiff competition. The big two online sportsbooks DraftKings and FanDuel, currently dominate the online sports betting industry in the US. This may, in part, be due to the large number of existing customers who have signed up for their daily fantasy sports product, but it is also because they have a fantastic product with high-value odds.

One way in which PoinstBet can compete with these giants is to offer a highly competitive welcome offer that can lure potential customers away from the likes of FanDuel and DraftKings.

PointsBet’s current welcome bonus certainly does that. In addition, the promos are not only generous but also trustworthy, which is an important if not often underlooked factor that should be considered when signing up to any sportsbook.

pointsbet welcome offer

We can start with the good news. The current PoinstBet welcome offer is one of, if not the best new customer promos on the market, as we explain below.

The bad news is that this type of offer cannot be sustained forever. The online sportsbook is currently on a marketing drive looking to capitalize on its success and popularity. Put simply, if you are interested, then we suggest you sign up now as this offer is not going to stick around.

PointsBet Risk-Free Welcome Offer

2x risk free bets worth $2,000

So, why is this welcome offer arguably the best on the market? Well, here are three main reasons:

The huge amount of money

Unless you're Bill Gates or Jeff Bezos, $2,000 is a huge amount of money. So to be able to place up to $2,000 in wagers knowing that you’ll get the same amount back in the form of free bets should you lose is a big deal.

Two risk-free bets

Almost every risk-free bet promotion requires that you place only one risk-free wager. This promotion, however, allows you to place one risk-free bet with standard odds and other risk-free points bet wager. This allows you to place two risk-free wagers, so in reality, this is two welcome offers rolled into one.

Another reason why we like this split promotion is because it splits the total sum, and we would never encourage you to place a wager of $2,000. It’s an enormous amount of money to risk over one wager (and yes, it is still a risk because you get your money back in the form of free bets and not cash!) So, with this promotion, you can place two wagers at amounts smaller than £2,000 and hedge your bets.

Trustworthy

The first thing you should always check when adjudicating if a new sportsbook is safe or not is whether it is fully licensed in your state. It is an offshore sportsbook if it is not, which means it is not liable or licensed and can not be trusted.

Pointsbet is licensed in many states, which means that you can legally sign-up to the sportsbook anywhere in the US, but you need to be in a state where it is licensed to deposit, withdraw, or wager.

Secondly, you should look at how honest sportsbooks promotions are, and we find out this by looking at the small print.

With this particular welcome offer, the team at BettingScanner have taken a look and can confirm that there are no misleading claims.

The most common misleading claim comes in the form of a high turnover requirement on the free bets. This means that you must win a certain amount of times before the money is treated as cash. DraftKings is a good example of this, as they require you to win with your free bets 25 times before you can count the money as yours. Unfortunately, this means that a $2,000 risk-free bet with a high turnover requirement is of very little value as it is extremely unlikely that you will win over and over again in succession.


pointsbet free bet rules

Now, let’s walk through the promotion again, so we can really understand how you claim your free bets and how you use them.

There are two potential outcomes to your risk-free bet. One is that you win, and you, therefore, do not receive any compensation in the form of free bets.

The second is that you lose and receive your original wager back in the form of a free bet.

As we discussed earlier, PointsBet does not attach a multiple turnover requirement. This means that you can treat your free bets as a voucher you can spend once.

With the current welcome bonus promotion, you are eligible for two free bets. One for a standard odds risk-free bet and one for a PointsBet risk-free bet.

If you lose your risk-free bet wager, you should receive your free bets within 24 hours, and you will need to spend them within 14 days after they are issued.

Step 1: PointsBet sign-up

Right, let's walk you through exactly what you need to do to collect your risk-free bonus.

  1. Click on the claim button above. This will direct you to the promotional sign-up page.
  2. Click on the green sign-up now button.
  3. You will now need to choose what state you are currently located in. Remember, you must be in a state where PointsBet is licensed.
  4. You will now be at the create account page. Here you will need to enter some basic information, including your name and email.
  5. Click continue.
  6. You will now need to enter your personal details. These include your DOB, last 4 digits of your SSN, cell number, address and password.
  7. You will also need to tick the first tick box, which acknowledges you have read the terms and conditions and the third and fourth tick boxes, which stipulate that you agree with the basic rules. The second tick box is optional as it relates to marketing communication.

Step 2: Make a deposit

Now that you are all signed up, you will have to put in your first deposit to qualify for the risk-free bonus.

Here it would help if you thought about how much money you want to wager as a risk-free bet.

The offer stipulates that you can receive up to $2,000, not that you will receive that total just by signing up. Your risk-free bets will be matched to your two risk-free wagers.

So, for example, if your first wager is $200 on a standard odds money line and your second is $500, and you lose both, you will receive $700 in free bets.

Therefore we recommend that your first deposit consider how much you are willing to spend on these wagers.

We do not recommend that the average bettor place $2,000 in risk-free bets. As we explain above, you will still need to win once with your free bets, so it is by no means guaranteed money back.

pointsbet risk-free bet deposit options

To qualify for your risk-free bets, you must first deposit money into your sportsbook account.

The minimum deposit you are allowed is $10, but if you're signing up for the welcome promotion, then you are more than likely to be putting in a much higher amount.

This means that you will need a reliable payment method which can be a slightly tricky business when it comes to depositing to a sportsbook.

Visa / Mastercard

You might think that a Visa or Mastercard transaction would be the easiest, but this is often not the case. Firstly, it can be difficult to get the transaction approved by your bank as legislation has moved so fast across the country. Many institutions have not caught up with the speed at which new licenses are issued, and these transactions are routinely blocked.

Secondly, if you get your Visa or Mastercard payment approved, you will not be allowed to withdraw your winnings from PointsBet using the same method.

Lastly, registering your bank details with your sportsbook is not the most secure way to transfer funds. If hackers were to make their way into your sportsbook account, they would have access to some important information.

So what are the other options?

PayPal

The most popular deposit method for PointsBet and most other online sportsbooks is PayPal.

Millions of people worldwide use the payment platform, so it makes sense that many new customers and sportsbooks trust PayPal for these forms of transactions.

The platform also acts as a trusted middleman between banks and customers. The bank sees money going into your PayPal account and not where it is spent; this means that it is the perfect way to circumvent the restrictions on transactions to and from sportsbooks legally.

Finally, the additional layer of encryption that PayPal offers adds extra security to your transactions.

PointsBet Mastercard

If you're looking for the easiest and fastest way to deposit money into your account, then we recommend the PointsBet Mastercard.

To qualify for your PointsBet Mastercard, you will need to apply for it on their deposit page. It will take between 7 to 10 days to arrive.

Once you have your card, you can top it up using your normal Visa or Mastercard. Once your PointsBet card is topped up, you can make instant deposits.

You can also use your PointsBet Mastercard anywhere that accepts Mastercard.

ACH Transfers

This pulls funds directly from your checking account. This is a secure but definitely, old school method that can take a little more time than other online methods.

With these methods, you will be able to transfer much more money at once than other methods, and there are no additional fees associated with the transactions.

faqs

Is PointsBet safe?

Yes. PointsBet is a fully licensed and legal online sportsbook in the US. It is operational in a number of states including:

  • Illinois
  • Iowa
  • Indiana
  • New Jersey
  • Michigan
  • Colorado

For information on the subject check out our article Is PoinstBet Safe?

Is PointsBet risk-free bet legit?

Yes. The risk-free welcome promo offered by the online sportsbooks is a trustworthy bonus that is available to new customers.

The risk-free bet is split into two. One (up to) $500 standard odds risk-free bet and an (up to) $1,500 points bet risk-free bet.

Is PointsBet risk-free bet available in Illinois?

Yes, The PointsBet risk-free bet new customer promo is now available for residents of Illinois or visitors currently residing in the state.

Is PointsBet risk-free bet available in Indiana?

Yes, The PointsBet risk-free bet new customer promo is now available for residents of Indiana or visitors currently residing in the state.

Menu