PointsBet aims to take on black market with $10k guarantee

PointsBet has announced a new ‘Game Day Guarantee’ that will see all customers allowed to bet to win up to $10,000 on main markets on the major US sports.

As the name suggests, the guarantee will be valid on the day of the event, with PointsBet pledging to keep the guarantee in place until at least the end of the NFL season in 2020.

To support the guarantee, PointsBet said it will be offering the lowest margins in the market, with lines at -105 or equivalent on main run lines and totals line for all MLB games from later this week, with the same pricing for the NBA and NHL playoffs.

PointsBet US CEO Johnny Aitken told EGR the guarantee was one way to compete with black market books targeting US consumers.

“We are still fighting a battle against offshore operators who are active in the market and have clear advantages because they pay little tax so can offer better odds and can offer things like credit betting,” he said.

“By guaranteeing all clients, sharp or recreational, a good bet at really good odds, you’d hope that will be extremely well received on all fronts and bring bettors back into the fully regulated market.”

Aitken said the offer would also “thwart a full European risk model” where clients that win are simply shutdown.

“We’re bookmakers at heart and accepting action from sharp bettors is in our DNA,” Aitken added.

This type of minimum bet guarantee has been implemented by some bookmakers in Europe, albeit to lower stakes.

The guarantee was also endorsed by pro bettor an NJ resident Jack Andrews, who added: “As a professional gambler, I’ve been disappointed as sportsbooks continue to lower the bar as to what is acceptable behavior towards sharp betting action.

“However, PointsBet guaranteeing a game day minimum bet raises that bar. Their innovation in New Jersey is setting a standard for other sportsbooks to follow.”

For more details on PointsBet’s early success in New Jersey read EGR’s recent profile on the business.