What PointsBet Is

PointsBet is a sports betting platform where you place wagers on the outcomes of sporting events through a mobile app or website. Unlike some sportsbooks that offer fixed odds only, PointsBet lets you choose how much you want to win or lose on a single bet — a feature called PointsBetting — alongside traditional fixed-odds bets. The company operates in multiple U.S. states where sports betting is legal and holds licenses from state gaming regulators in those jurisdictions.

When you open a PointsBet account, you deposit money, browse upcoming games and matches, and place bets on outcomes like which team wins, the final score, or individual player performance. If your bet wins, PointsBet pays you the winnings to your account. If it loses, your stake is gone. The platform charges no fee to place a bet; it makes money when bettors lose.

Key Takeaways

  • PointsBet operates only in states where sports betting is legal, and you must be at least 21 years old and physically located in one of those states to place a bet.
  • The platform offers both traditional fixed-odds bets and PointsBetting, which lets you set your own potential win or loss amount rather than accepting preset odds.
  • You fund your account with a debit card, credit card, bank transfer, or other payment methods PointsBet accepts, and withdrawals go back to the same method you used to deposit.
  • PointsBet does not hold your money in a separate account; your balance is a liability on the company's books, so the security of your funds depends on PointsBet's financial stability and state regulation.
  • Responsible gambling tools like deposit limits, self-exclusion, and cooling-off periods are available if you want to restrict your own betting.

How to Create an Account and Deposit Money

To open a PointsBet account, read the app or visit the website, enter your email address, create a password, and provide your full name, date of birth, and physical address. PointsBet will verify your identity using information from public records and may ask for a photo ID. You must be at least 21 years old and located in a state where PointsBet holds a license.

Once your account is open, you can deposit money using a debit card, credit card, bank transfer, or other payment methods the platform offers in your state. The minimum deposit varies but is typically $10 to $20. PointsBet does not charge a fee to deposit. The money appears in your account when ready for card deposits and within one to three business days for bank transfers. You can then use that balance to place bets.

Fixed-Odds Bets vs. PointsBetting

Fixed-odds bets work like traditional sportsbooks: you pick an outcome, see the odds PointsBet is offering, and decide whether to accept them. If you bet $10 on a team at -110 odds (a common number), you risk $10 to win about $9.09. The odds are set by PointsBet and do not change once you place the bet.

PointsBetting is PointsBet's signature product and works differently. Instead of accepting preset odds, you choose how much you want to win if you are right — say, $50 — and the platform calculates your stake based on the odds. If you win, you get your $50. If you lose, you lose your stake. The key difference is that your maximum loss is your stake, but your maximum win is what you chose. This appeals to bettors who want more control over the risk-reward balance on a single bet.

Both bet types are available on most sports and events PointsBet offers. You can use whichever suits your preference for each bet you place.

How Withdrawals Work

To withdraw money from your PointsBet account, go to the withdrawal section of the app or website, choose the amount, and select the payment method. PointsBet will send the money back to the same card or bank account you used to deposit. Withdrawals typically take one to three business days to appear in your account, though the exact timing depends on your bank.

You can withdraw your full balance at any time, including winnings. PointsBet does not require you to play through your deposit before withdrawing, and there is no fee to withdraw. If you have an outstanding bet that has not settled, you can still withdraw the rest of your balance.

Where PointsBet Is Legal

PointsBet operates in a growing number of U.S. states, but not all. The states where you can use PointsBet change as new licenses are granted and old ones expire. Before you open an account, check PointsBet's website or contact customer service to confirm whether the platform is available in your state. If you try to place a bet while outside a licensed state, the app will block the transaction.

PointsBet is regulated by state gaming authorities in each state where it operates. These regulators set rules about how the company handles customer money, what bets it can offer, and how it must advertise. Regulation does not mean the state endorses PointsBet, only that it meets minimum standards to operate.

Responsible Gambling Tools and Limits

PointsBet offers tools to help you manage your betting if you want to set boundaries. You can set a daily, weekly, or monthly deposit limit, which caps how much money you can add to your account in that period. Once you hit the limit, you cannot deposit more until the period resets. You can also set a loss limit, which pauses your account if you lose a certain amount in a given timeframe.

If you want to stop betting entirely, you can use self-exclusion, which closes your account for a period you choose — typically 6 months to 5 years. During self-exclusion, you cannot log in or place bets. You can also request a cooling-off period of a few days to a few weeks if you need a break without fully closing your account.

If you are struggling with gambling, the National Council on Problem Gambling runs a helpline at 1-800-522-4700 and offers resources at ncpg.org. Many states also have their own problem gambling programs.

What Happens to Your Money If PointsBet Fails

When you deposit money with PointsBet, you are not opening a bank account. Your balance is a debt PointsBet owes you, not money held in a separate trust account. If PointsBet goes out of business or cannot pay its debts, your balance may be at risk. The Federal Deposit Insurance Corporation (FDIC) does not protect sportsbook balances the way it protects bank deposits.

Your protection comes from state regulation. States that license PointsBet require the company to maintain certain financial reserves and to report its condition regularly. If PointsBet fails, state regulators may require the company to return customer funds before paying other creditors. However, this is not may provide, and the process can be slow. For this reason, many bettors withdraw their winnings regularly rather than keeping large balances on the platform.

Frequently Asked Questions

Can I use PointsBet if I live outside the United States?

PointsBet operates in some countries outside the U.S., but the rules vary by location. If you live in the U.S., you must be in a state where PointsBet holds a license. If you live outside the U.S., check PointsBet's website to see whether it operates in your country and what the local rules are.

What sports can I bet on at PointsBet?

PointsBet offers bets on major U.S. sports including the NFL, NBA, MLB, and NHL, as well as college football and basketball, soccer, tennis, golf, and other sports. The exact sports and events available vary by state and change based on the sports calendar. Check the app to see what is currently available in your state.

Is there a bonus for new customers?

PointsBet periodically offers promotions for new customers, such as bonus bets or deposit matches. These offers change frequently and vary by state. When you open an account, the app will show you any current promotions. Read the terms carefully, as bonus bets usually come with restrictions on how you can use them.

What if I think I made a mistake on a bet I just placed?

Once you place a bet, it is final and cannot be canceled or changed. If you placed a bet by accident, contact PointsBet customer service when ready — some sportsbooks will cancel a bet within a short window if you ask right away, but this is not may provide. In the future, review your bet slip carefully before confirming.

How do I close my PointsBet account?

You can close your account by going to the account settings section of the app or website and selecting the option to close or delete your account. You must withdraw any remaining balance first. Once closed, you can reopen an account later if you choose, though some states have rules about how long you must wait.