PointsBet Sportsbook Canada Review and Sign Up Bonus

Disclaimer: PointsBet sportsbook is not currently online in Canada. This review is speculative based on what we know so far and will be updated when the operator officially launches here.

Assuming single-event sports wagering receives the green light in Canada, there is little doubt that PointsBet would be among the sportsbooks looking to open up shop. It has a leading sports betting app and offers an abundance of betting options that Canadians are likely to enjoy.

One of those betting choices is available only at PointsBet: PointsBetting. With PointsBetting, your bets are multiplied by how right or wrong they are, potentially leading to large wins and losses on relatively small wagers.

This page will detail how PointsBetting works, while also telling you how to claim PointsBet’s welcome bonus: risk-free bets worth up to $2,000. In addition, we’ll go over how to sign up, place bets, bank with the site and much more about how sports betting in Canada may work.

When will single-game betting be legal in Canada?

Single-game wagering still is not legal in the Great White North, but that could be changing very soon due to bill C-218. If passed, the bill would amend the Criminal Code in Canada and thus allow single-event sports betting to begin in earnest.

A hearing in the Canadian Senate in early June pegged Labour Day as a potential launch date. Nothing is set in stone yet as C-218 still needs to pass the Senate. Then it would go back to the House of Commons. Finally the bill would need to receive royal assent from the Governor General’s office.

If all that happens, Canada could see a very robust sports betting market. TheScore estimated that online revenues could be as much as $3.8 billion to $5.4 billion annually. Deloitte put the estimate for all online gambling in the country at $7 billion to start and reaching as high as $28 billion in the next five years.

What’s great about PointsBet Sportsbook?

  • Variety of wagering choices.
  • Fast and easy-to-use app.
  • Great promotions, including stellar welcome bonuses.
  • Chance to place single-event sports bets.

PointsBet Canada welcome bonus

Use the code BETBONUS when you register for a new PointsBet account and you will receive a pair of risk-free sports bets for up to $2,000. Your first fixed odds wager will be risk-free for up to $500, and your first PointsBetting bet will be risk free for up to $1,500.

Welcome bonus details

The most consequential fact about PointsBet’s bonus is that if the relevant bets lose, your refund is not in cash. Rather, you will receive a free bet for the same amount as the original wager.

Your free bet will expire 30 days after the sportsbook issues it. You can use the bet in its entirety or split it equally into two, three or four pieces. Lastly, you will not get the free bet value in return for any winning wagers. You only receive the winnings from such a wager.

Finally, be aware that there are a couple of rules regarding your initial bets. Wagering on both sides of a market is not allowed for either bet. And you cannot use the stop loss function for the PointsBetting wager. If you do either of those things, you will not be eligible for the refund if your bet loses.

How does PointsBet’s welcome bonus stack up?

PointsBet has one of the better welcome bonuses in the industry. That’s due to the overall value (up to $2,000), the fact you get two risk-free wagers instead of one and because you can divide your free bets up to four ways.

PointsBet Canada promo code October 2021

Online SportsbookPointsBet Sportsbook Ontario
PointsBet Ontario Promo CodeBETBONUS
Risk-Free First PointsBetting Bet Max of $1,500
Risk-Free First Fixed Odds BetMax of $500
Online Since2021 in Canada
Last UpdatedOctober 2021

PointsBet Sportsbook Canada promotions

In addition to its welcome bonus, PointsBet has several high-quality promotions going on year round, as well as daily odds boosts. Whether you’re on the PointsBet website or app, all you have to do is open the main menu and select “Promos.” This will display every PointsBet promotion that is live at that time. You can view them all at once or use the tabs at the top to sort what you can see.

Types of promotions at PointsBet

Here are some of the offers you’re likely to come across at PointsBet:

  • Risk-free promos: The welcome bonus is not the only risk-free offer at PointsBet. Every so often, you’ll see promos for risk-free parlays and single-game parlays. These deals are capped at $25 usually and have requirements for number of legs and minimum odds.
  • Insurance promos: These deals are much more common and typically are for parlays. You place a parlay with no fewer than four legs. All the legs have to have odds of -200 or longer, and if your bet fails by exactly one leg, you’ll receive up to $25 back.
  • Boosted parlays promo: Each day at PointsBet you’ll receive one token for boosting a parlay and one token for boosting a single-game parlay. The only requirement for using a token is that your parlay must have a minimum of three legs. However, there are no minimum or maximum requirements for overall odds, and the tokens increase your payouts by right around 10%. You cannot carry tokens over, so you will never have more than a total of two tokens a day.
  • Karma Kommittee: When there’s an especially bad beat or something crazy happens, the Karma Kommittee may step in. For instance, when Naomi Osaka withdrew from the 2021 French Open, the Kommittee elected to refund all future wagers on Osaka as free bets.

PointsBet booster odds

As is the case with many online oddsmakers, PointsBet also offers daily odds boosts. You can find each day’s boosted bets by selecting “Booster Odds” from the PointsBet menu. You’ll be able to see what the original odds were and of course what the boosted odds are. PointsBet caps wagers at $50, and you can only place single wagers, not parlays.

PointsBet VIP program

In addition to its promotions, PointsBet also offers a loyalty club. You’ll receive rewards points for each bet you make, and you can redeem those points for free bets.

You’ll receive one rewards point for every dollar you win or lose with PointsBetting, for every dollar you bet on parlays and for every $5 you bet on straight, fixed odds wagers. Points never expire, and every 100 points is worth a $1 free bet. Though you must have at least 200 points in order to redeem them.

While it might feel as if it takes a lot to receive even a $1 free bet, the fact is many sportsbooks don’t offer anything in terms of rewards programs, so this still is a plus for PointsBet.

Is PointsBet legal in Canada?

No, at this time PointsBet is not legal in Canada. That’s due to the fact that single-event sports betting still is illegal in the Great White North. However, if C-218 passes, it will amend the Criminal Code to allow for single-game wagering in Canada.

Then PointsBet would need to receive the go-ahead from any Canadian province that decided to allow online sportsbooks to operate. As a sign that PointsBet is committed to operating in Canada, it hired Nic Sulsky, the former president of Monkey Knife Fight, to lead its Canadian expansion.

How to create a PointsBet account in Canada

Creating an account with PointsBet is fairly easy and should take no longer than 10 minutes, max. To begin, head to the PointsBet website and click “Sign Up,” which will open a window asking which province you are located in. After selecting the appropriate one, you simply have to supply the following:

  • First and last name
  • Address
  • Phone number
  • Email
  • Birthdate

Once you’re done there, your PointsBet account will be operational and all that remains is making a deposit before you can start placing bets.

PointsBet Sportsbook app

As a PointsBet user you will be able to run your account and place bets using the PointsBet website or app. The app is a convenient way to bet if you have an iOS or Android smartphone or tablet.

PointBet’s app is effectively the same on both Apple and Android devices, and it is one of the fastest sports betting apps we’ve had the pleasure of using. To install it, head to the PointsBet website and scroll down until you see “Download on the App Store” and “Download for Android.” Click on the appropriate button and follow any additional prompts from there to download and install the app.

Location restrictions for using the PointsBet app

Despite having the app on your phone, you only will be able to use PointsBet in provinces in which PointsBet has gotten the OK to operate. Each time you log in using the app or website, PointsBet will check your location. If you are not in a province where PointsBet is legal, you will not be able to place wagers or cash out bets early.

Best features of the PointsBet Sportsbook app

Here are some of the things we particularly like about using PointsBet:

  • Top-notch promos: When you sign up with PointsBet, you receive $2,000 worth of risk-free wagers. Then, as an existing customer, you’ll be privy to frequent new promotional offers. PointsBet offers daily boosted odds wagers, allows you to boost two parlay bets a day and even runs “Double Your Money” bonuses at times. These promos are capped at $10 bets, but the wagers are virtually guaranteed, so you’ll end up doubling your money, hence the name.
  • Betting markets: While it’s not a scientific study, we’re confident that PointsBet has more betting options than most other online sportsbooks. PointsBet offers multiple spread, total and moneyline bets for games, it also has myriad player, team and game props. And then there’s PointsBetting, which you can’t find anywhere else.
  • Fast app: Whether you’re trying to place a wager before the odds change or simply engaging in live betting, seconds matter. That’s why the fact that PointsBet has one of the speediest apps in the industry is so vital. And don’t worry if you plan on using PointsBet’s website because it is just as fast as the app.

How could PointsBet improve?

While it’s a strong sportsbook overall, PointsBet still has some areas where it could do better:

  • More customer service options: In a perfect world this won’t be an issue because you’ll never experience any problems with PointsBet. Nevertheless, if you do, it would be nice if in addition to emailing and live chatting you could also call. Right now that is not an option.
  • Huge loss possibility: This isn’t necessarily an area that PointsBet needs to improve upon as much as it’s something you should be aware of when it comes to PointsBetting. With typical sports bets, you always know what you’ll lose if a bet is wrong. With PointsBetting, though, a $1 bet can lead to a $2,000 loss, so pay close attention when placing PointsBetting wagers.
  • Poor prop odds at times: Overall the odds at PointsBet are great. In fact its spread and total odds are often the best in the industry. Unfortunately, the same isn’t always true for PointsBet’s prop odds. In particular, home run markets for MLB games tend to be the most off from other online sportsbooks.

PointsBet Sportsbook features and benefits

When you click on games at PointsBet, you’ll find a preview of that particular matchup. The preview will recap how both squads have been playing and also focus on specific players who have been struggling or excelling of late. This is great if you like researching bets but don’t have tons of free time to do so.

Another major benefit at PointsBet is the fact that you’ll receive rewards as you bet. We also love that PointsBet’s rewards points don’t expire, so you’ll never need to make extra bets to be able to redeem the points you have before they vanish.

What exactly is PointsBetting?

PointsBetting is only available at PointsBet, and it is a completely different way to bet on sports than you are used to. With standard fixed odds wagering, it doesn’t matter if your team covers by one point or 30, you win the same amount. With PointsBetting, however, the more you’re right, the more you win. And the more you’re wrong, the more you lose.

Let’s take our example of your team covering by one or 30 points to illustrate how PointsBetting works. If you placed a $10 PointsBetting spread wager and your team covered by one point, you would win $10. However, if it covered by 30 points, you would win $300. That’s because your bet amount is multiplied by how many units right or wrong your bet is.

Max loss and max win levels

As you can see, PointsBetting can cause dramatic wins and losses with pretty small stakes. That’s why every PointsBetting wager you place includes a max loss and max win level. Sometimes these levels can be 2,000 times your stake. Whenever you place a PointsBetting wager, make sure you’re comfortable with these numbers.

Additionally, some PointsBetting markets include a stop loss adjuster. This adjuster allows you to lower the max win and loss levels concurrently with each other. This can be a great device to use if you want to bet on a specific market, but don’t want to risk losing thousands of dollars.

Is PointsBetting right for me?

Only if you’re not worried about suffering some pretty tremendous losses and instead enjoy having a chance to win a boatload of money, then PointsBetting may be right for you.

Types of bets at PointsBet sports betting

On top of PointsBetting, you can make all the standard sports wagers that you would expect from a top-flight online sportsbook.

Moneyline bets

A moneyline wager is when you bet on one side to win, no point spread involved. The odds are shorter and thus you’ll win less when betting on the perceived favourite. Conversely, when betting on an underdog, you’ll win more if your bet is right. For instance, if the Toronto Maple Leafs are -400, that means they are the favourite and for every $4 you bet you stand to receive $1 in profit. If the Vancouver Canucks are +400, then they are underdogs and for every $1 you bet you’d potentially win $4 in profit.

Point spreads

For spread betting the team you are wagering on will have points added or subtracted from its score at a game’s conclusion. If your team is leading after this adjustment, your bet wins. For example, if the Ottawa Senators are listed as -1.5, that means 1.5 goals will be removed from their score, so if they win 4-3 they would fail to cover the spread. But if the Montreal Canadiens are listed at +1.5, they would have 1.5 goals added to their score. If they lost that game 4-3, they would still cover the spread.

Totals

Also called over/unders, totals are wagers on the combined total score in a game. If the total line for an Edmonton OilersCalgary Flames game is 7.5, you could wager that the actual total will be over or under that line. If the final score is 5-3, wagers on the over will win.

Prop bets

Props are simply wagers on whether player-, team- or game-related events will take place. Odds depend on the likelihood of said events happening. For instance, during a Winnipeg Jets game, you could see prop bets for Mark Scheifele to score a goal; for any period to be scoreless; or for the Jets to outscore their opponent in the second period.

Futures bets

Futures refer to long-term bets, generally over a whole season. A very common futures bet would be betting on a team to win the next Stanley Cup, with odds becoming available before the season starts. If you don’t see a certain option listed for a certain futures market, you can message PointsBet and its analysts will often add that option.

Multi-bets

At PointsBet you also can create simple and complex parlay, teaser and round robin wagers. For both parlay and teaser wagers all your selections must be correct in order for you to win, while round robins allow you to miss a pick and not lose your whole bet.

PointsBet allows you to create single-game parlays where you can place multiple wagers that all involve the same game. To see all your single-game parlay options, you’ll select a game and choose the single-game parlay tab at the top.

To create teaser bets at PointsBet you also will select individual games and then choose the teasers tab. From here, you can choose alternate spreads and totals. Simply select the lines you want for multiple games and then create a parlay out of those lines.

Live wagering

Lastly, there is live betting, which refers to any bet you place on a game that it taking place at that very instant. With live betting, you don’t have to worry about placing bets before the action starts. But bear in mind that if the team you want to bet on gets off to a great start, its odds will shorten dramatically.

Live betting at PointsBet will vary based on how popular games are, how close they are and how much time is remaining. For instance, if a hockey team is up by four goals with less than two minutes to play, you likely won’t be able to place a moneyline wager on that side.

Sports you can bet on at PointsBet Canada

PointsBet offers wagers on pretty much every major professional sport you could ask for, along with the top US college options. It also has markets for some smaller sports leagues.

You’ll be able to wager on the NHL, NFL, NBA, MLB, CFL, PGA Tour, UFC and both US college basketball and US college football. You also will find bets for top international sports leagues in soccer (Champions League, EPL, World Cup), hockey (KHL), basketball (EuroLeague) and others.

We’ll be paying attention to whether PointsBet adds markets for popular Canadian sports like lacrosse and curling in the future.

How to deposit and cash out on the PointsBet app

While none of these methods will be official until PointsBet debuts in Canada, these are the most likely deposit and withdrawal options you will have.

Deposits

Deposit MethodMinimum AmountProcessing Time
Online Bank TransferNo Minimum1-2 Days
ACH (e-check)No MinimumInstant
Debit/Credit Card$10Instant
PayPalNo MinimumInstant
Play+ Prepaid Debit CardNo MinimumInstant
PayNearMeNo MinimumInstant

Withdrawals

Withdrawal MethodMinimum AmountProcessing Time
Online Bank TransferNo Minimum1-2 Days
ACH (e-check)Limit Set by Bank1-2 Days
PayPalNo Minimum1-2 Days

History of PointsBet

PointsBet was founded in Australia, launching in 2017.

By January 2019, it had launched its first online sportsbook in the US in New Jersey. Since then, PointsBet has opened books in Iowa, Colorado, Indiana, Illinois and Michigan. Chances are that PointsBet will debut in other US states by the time it goes live in Canada.

As far as a home base is concerned, PointsBet established a home in North America when it opened its US headquarters in Denver, with office space just under 16,000 square meters.

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