Safe Sportsbooks PointsBet

Is PointsBet safe?

3 May 2021

The Aussie sportsbook has taken the US by storm since it launched its online product in 2019. But is it safe to wager with?

Safety Inspector 🕵️

Safety Inspector 🕵️

Jacob Ljunggren

BettingScanner's resident safety expert goes through the various factors that make PointsBet a safe sportsbook to use in the US.

Licenses PointsBet is regulated in six states.

Safe deposits and withdrawals PointsBet offers PayPal as a payment option

Trustworthy welcome offer The online sportsbook provides and honest and genrous welcome offer to new customers.

Reliable odds PointsBet consistently offers high/value odds.

PointsBet: A safe and trusted sportsbook

It's only been two years since the online sportsbook first set up shop in the US, but already it is one of the biggest brands in the country.

PointsBet is a fully regulated, legal and safe online sportsbook for US bettors. The following state bodies regulate the sportsbook:

  • The New Jersey Division of Gaming Enforcement
  • Indiana Gaming Commission
  • Illinois Gaming Commission
  • Michigan Gaming Control Board
  • Colorado Limited Gaming Control Commission
  • Iowa Racing and Gaming Commission

This means that it is perfectly safe and legal in those six states to sign-up, deposit, wager, and withdraw with PointsBet.

When an online sportsbook is regulated by a state gaming commission it means that it has been approved by a committee and is liable within the state. It also means that the online sportsbook has paid a license fee and pays tax on its revenue. How much the fee and the tax rate is depends on the state.

A license is an absolute must for a US based sports bettor. It means that the sportsbook has a legal responsibility to its customers, and every wager is legal and sanctioned in the eyes of the law.

PointsBet welcome offer

Is it safe to use PointsBet outside of these states?
Nils Edmondson

Nils Edmondson

Since the online sportsbook is legal and licensed in the US, it is entirely safe to sign-up to PointsBet anywhere in the country. However, you will not be allowed to deposit cash and wager unless you are within state lines.

It is common practice for residents of a state where PointsBet is not live - such as New York - to sign-up at home and then make a journey into a state - such as New Jersey - to place a wager.

Safe deposits and withdrawals with PointsBet

A license is a crucial factor when defining whether an online sportsbook is safe, but payment options are also critical.

This is largely down to the fact that the US banking system is not in line with the current legislation around sports betting in the US. This makes traditional Visa or Mastercard transactions risky for two reasons:

  1. Your deposit can be blocked by your bank even though your sportsbook officially accepts Visa and Mastercard payments.
  2. You can deposit funds using your debit or credit card but are unable to withdraw any winnings. This is because almost no bank allows a withdrawal from an online sportsbook via Visa or Mastercard, and if they do, you will face some hefty fees.

Fortunately, PointsBet offer several safe alternatives of which PayPal is the most widely used and the most reliable.

If you are in a state where PointsBet has a physical presence, such as Illinois, then you can also head down to their sportsbook in-person and deposit in cash with no fees.

PointsBet and PayPal
Nils Edmondson

Nils Edmondson

PointsBet were one of the first online sportsbooks in the US to offer PayPal as both a deposit and withdrawal option for all of its products.

PayPal is the safest payment option in the industry.

The payment service allows you to circumvent the blocks on Visa and Mastercard transactions. It also adds an extra encrypted layer of security to your deposits and withdrawals.

When using PayPal with PointsBet, you can expect a 10 minute transfer time and a deposit fee of 2.9% of your total amount with an added $0.30.

When withdrawing cash with you will not pay any fee; you can expect a 3-4 working days processing time.

PointsBet's trustworthy welcome offer

Is it possible to have an unsafe welcome offer? Yes, it is!

Welcome offers, also known as new player bonuses, are marketing campaigns used by online sportsbooks to pick up new customers. These offers can be beneficial to both parties, with the sportsbook picking up a new customer and that customer getting a nice load of free bets to wager. However, like many marketing campaigns, there a number of misleading claims being advertised in the US, which encourage bettors to wager repeatedly.

At first sight, the latest PoinstBet welcome offer looked to good to be true: 2x risk free bets worth $2,000!

However, on closer inspection, this offer does what it says on the tin. It is split into two:

  1. A $500 risk-free bet for a fixed-odds wager. This means that you get your original wager back in the form of a free bet if you lose your first standard bet.
  2. A $1,500 risk-free bet for a points bet. This risk-free bet is for a wager with the sportsbooks unique form of points betting.

So why is this a 'safe' welcome offer? Well, first, it does not encourage you to spend more than your initial deposit to win. Secondly, it does not have a high turnover requirement.

A turnover requirement is the number of times you need to win with your free bet before it is yours in cash. So, for example, with DraftKings, you have to win with your free bet 25x before the money is yours.

PointsBet's reliable odds

Odds are another crucial factor when picking a reliable sportsbook. Illegal offshore sportsbooks can often offer the most attractive odds because they do not have to pay the hefty license fees and state taxes, making them liable. However, since they are not accountable, they are not obliged to payout.

Fortunately, PointsBet is both regulated and offers high-value odds. Of course, you may find slightly better odds for several events with other sportsbooks, but on average, PointsBet is on par with the other high-value sportsbooks such as FanDuel, DraftKings, 888Sport and Unibet.