Pointsbet - Win More Depending On How Correct You Are
We have occasionally made comparisons between wagering with one of the online bookmaking agencies and currency or stock speculation. Join Pointsbet
Both activities can be conducted online, both involve monetary risk over an uncertain future outcome and both require patience and discipline to afford the best chance of success.
Brokers enjoyed one distinct advantage.
They took a share of any concluded trade, win or lose. A winning trade was reduced by the broker’s cut, while a losing trade hurt a trader’s account more by adding the broker’s fee to the loss.
Regardless of the outcome, the broker was paid, unlike bookmaking, where a loss was limited to the amount staked. Bookmaker margins still reduced a winning dividend, similar to how a winning trade through a brokerage firm was reduced by the fee.
Now, Australia has spread betting on offer from PointsBet, where punters can realise a larger profit if their predictions are better than the spread quoted by the bookmaker. Losses can be magnified beyond the stake risked if the punter is severely wrong.
Punters to whom this concept sounds foreign can get a free education by simply entering search terms, such as “bid/ask spread,” “arbitrage,” or “buy/sell spread.” Potential PointsBet customers should also learn the meaning of terms such as “stop loss,” and “margin,” as both those come into play with this agency.
The term margin carries a completely different meaning with spread betting, as it refers not to the fees a bookmaker will collect from a winning punt, but to the requirement for a punter to have a certain amount of funding in their account in order to make a certain size of wager.
Here is a brief examination of PointsBet for any who think this form of wagering might be an appealing switch from the status quo.
PointsBet started out in early 2017 and is granted the right to operate by the Northern Territory Racing Commission. Spread betting is not new around the world, but at this time, PointsBet is the only agency permitted to offer it in Australia.
The company is an approved betting partner of many Australian leagues, for what that approval is worth.Join Pointsbet
PointsBet Website and Mobile Platforms
We entered points.bet.com into our browser and were immediately taken to a website that one of the worst we have ever encountered. In the interest of disclosure, we should mention that we do trade financial instruments, but do not gamble, and no broker website we have ever used comes close to the horror show we found at PointsBet.
It has one of those awful scrolling slide shows that stop just this side of inducing nausea. The colour scheme is black, white and grey with a little red thrown in.
Would we use that as a reason to avoid PointsBet?
Not if we were interested in spread betting and since we speculate on financial instruments, we obviously are.
PointsBet has mobile platforms for Android and iOS, but after the website, we were unwilling to fiddle with the mobile apps.
Spread Betting Basics
When we clicked on a market, in our case, the upcoming 2018 FIFA World Cup Finals match between Australia and France, the bet slip opens right in the middle of the screen, but the slide show rolls on.
The important thing to learn right away is that PointsBet does offer Fixed Odds betting and those odds are comparable to what we have seen from the other bookies. They had France priced at $1.22 and Australia at $13.00, more or less in line with other conventional bookmaker odds. PointsBet had 83 markets on offer for the fixture, for any who have to have such things as First Goalscorer, Correct Score, etcetera.
If you want to look at spread betting, however, you have to click on the “Spreads” tab, which is to the right of the “Fixed Odds” tab, but is greyed out and easy to miss.
Soccer is a tough venue for spread betting as the scores are typically low, but for the sake of example, we clicked on the -2 line PointsBet was offering on France and learned that in order to place a $100 bet, PointsBet would withhold $300 of our account balance to accept the bet, with a maximum win of $500, but a maximum loss of $500 as well.
The potential loss of $500 from a $100 punt is new and slightly disturbing to punters who might take the same bet with another agency, secure in the knowledge that if they were wrong, their loss would be limited to $100.
Picking Australia at the +1.8 line showed the same maximum win and loss levels of 5x the stake.
We decided to try and have a look at other markets.
We could not find any thoroughbred racing markets for Australia/New Zealand beyond what PointsBet described as “Next Few Days.”
This is when we noticed a three red horizontal line icon at the very top left corner of the screen. Clicking this showed us all the racing markets PointsBet had on offer.
We are glad to report that we found the upcoming AFL fixtures, so we randomly selected the Port Adelaide Power versus the Western Bulldogs. Again, to engage in spread, rather than fixed odds betting, we had to click on the spreads tab. We did observe that there were 69 markets on offer, so, more than enough.
We learned that the line for Port was -39 and that the line for the Dogs was +36.
Notice that three-point differential? That sums up spread betting. In casinos, that differential would be known as the House Edge.
If Port does not win by at least 39 points, the wager would lose. If the Dogs do not lose by at least 36 points, the wager would lose.
The maximum loss or win on a $1 wager would be 75x and PointsBet would withhold $75 from the wagering fund. Here is where the Stop Loss feature comes into play. A slider at the bottom of the bet slip allows for adjusting the degree of risk from 75x all the way down to 10x. Comforting, but remember, that reducing the risk also reduces the reward, so taking the minimum risk would limit the maximum win to $10 on a $1 wager.
Other PointsBet Details
Minimum account size, minimum bet size and all that sort of thing is in line with the other bookmakers.
You need to sign up with PointsBet to see their other promotions.
We do not intend to send anyone running away from considering PointsBet and spread betting. The website we found so abhorrent will change, as do they all, from time to time.
Financial instrument brokers offer potential clients the opportunity to practice trading with simulated funds, something we have never seen any bookmaker offer.
Using one of these simulated trading programs that supplies real-time data would give you the ideal opportunity to watch what would happen with a PointsBet punt gone awry.
For instance, if you back a stock to rise and it instead falls, with each point in decline, your losses increase. Seeing your funds evaporate, often in a matter of minutes and seconds, is a true introduction to spread betting. The advantage is that you get to do it with pretend money.
Spread betting is much more complex than fixed odds betting. It requires an ability to quit while you are ahead, or quit before you are wiped out. That is much easier written than it is to actually execute. Exercise caution.