Last Updated on May 8, 2020
As the online sports betting market grows in Iowa, we can certainly expect the sportsbook app options to grow quickly.
PointsBet is the latest Iowa sports betting app to go live in a state that requires in person registaration. PointsBet is partnered with the Catfish Bend Casino in Iowa, who opened their retail sportsbook in August 2019. After being approved by the Iowa Racing and Gaming Commission (IRGC) in the Spring, the state has now added PointsBet to its digital offerings. PointsBet joins an online market that already has a handle of over $50M in the few months with sports betting. Given the location and pro/college fan base, the Iowa market is expected to be a lucrative one. Expect to see DraftKings Sportsbook Iowa to enter the market sometime in 2020, providing familiar competition for PointsBet.
“PointsBetting” Differentiates PointsBet Sportsbook
PointsBet is known for their “PointsBetting” bets, where a bet can result in big wins based on exponential results.
If a bettor bets $10 on a game to go over a points total, say that total is 50 points. If the game results in 60 total points, a bettor will be rewarded with more winnings given that is over 50 points by 10. If the under hits, vice versa occurs. It is a different spin on betting, but a nice wrinkle for bettors.
Essentially, the more you are right, the more money you can win. But, the more wrong you are, the more you can lose.
An example is betting the over/under in the NBA (basketball). If the total is 200 and you bet $10 on the over, if the game ends up with 216 total points, you would win $160. Your stake ($10) is multiplied by the number of points it went over (your bet was over 200) by 16 (216). Therefore, $160 is won. However, if you bet $10 stake, and the total is 190 (and you bet over 200), you lose your stake ($10) times your points lost by (under 200 by 10 points), so $100 is lost.
PointsBetting is a unique style of betting that will help PointsBet win some market-share in Iowa and soon to be Indiana. As a marketing idea, this allows for plenty of promotions and a unique way to offer to new and experienced bettors.
How To Sign Up for PointsBet App in Iowa
In order to use PointsBet’s online platform or app, a user must register in-person at the Catfish Ben casino. This rule is an inconvenience, but is only in effect until 2021. Catfish Bend is about 2.5 hours from Des Moines, St. Louis, and four hours from Chicago.
Users must be 21 years of age or older and provide identification at the casino in-person.
A user can sign up online or in-person, once they have registered with the state in a physical casino location.
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