What a time to go deep.
The off-season football analogy concerns PointsBet. The NJ online sportsbook answered the COVID-19 pandemic with an aggressive play call, and, figuratively, a touchdown, by unveiling Parlay Booster this week.
The new app feature delivered a substantial early score, rewarding a bettor with a bonus of nearly 40% on an eight-team, table-tennis parlay.
The prop involved a $100 bet and had a pre-booster return of $5,085. But, with the boost, it produced a profit of $6,951 — extra winnings of $1,866.
That’s a substantial bonus for being right.
It also brings odds boosting to a whole new realm.
What is the PointsBet Parlay Booster?
The product is the first of its kind in the US sports betting market, according to a press release.
It allows clients to build a personal parlay of choice each day, thereby receiving a significantly boosted price.
The more teams played, the larger the bonus on any props between 3-12 legs using Parlay Booster.
How does the Parlay Booster work?
Parlay Booster is a one-time use token that allows a client to select any 3- to 12-leg parlay they choose and get a boosted/enhanced price.
Clients use the token on their parlay of choice by ticking the “Parlay Boost” box that will automatically appear when building the parlay.
Every promo-eligible client can receive one parlay booster per day, with the potential to receive more.
Clients can receive additional daily parlay boosters the more loyalty they demonstrate with PointsBet.
Additionally, the parlay booster is completely customizable and can be placed on any parlay a client would like to create.
The boosted price is based proportionally on the individual parlay you are choosing to boost. The more legs and longer the odds, the more of a boost you will receive compared to a parlay with less legs and shorter odds.
PointsBet: ‘We are thrilled’
The company has not released official information regarding the boost percentage, but if eight legs returns 40%, 10-12 would likely exceed 50%.
“Initial response has been terrific,” a company spokesman said Thursday. “We are thrilled.”
The strategy will become interesting to bettors.
With one Parlay Booster opportunity available per day, does one seek better odds of hitting with a five- or six-team play or try for a monolithic 12-team boost?
If action like the win mentioned earlier stems just from table tennis, a sport with newfound betting popularity during the pandemic, imagine its impact should traditional sports such as baseball, hockey, basketball, and football regain their foothold.
With this product, PointsBet continues to make the bold move of investing in the market while some of its counterparts cut back to preserve cash.
This unveiling further reflects the company’s aggressive, non-traditional market presence.
PointsBet making its mark
PointsBets works much like a standard sportsbook, but a fraction of its operations resembles one gigantic prop.
Its PointsBetting platform, for instance, generated industry headlines during the NFL and college football season, dramatically enhancing wins and losses.
Clients were rewarded or docked by how right or wrong they were. The prop play made every yard, touchdown, and basket important.
Innovations have ensued. PointsBet Sportsbook has become noted for bettor-first initiatives including Good Karma payouts, which provide bettors relief in the event of a bad beat that affected a high number of gamblers.
Johnny Aitken, PointsBet USA CEO, said clients have strongly resonated with Quick Parlay Builder and In-Play Parlay features. PointsBet’s Parlay Booster will be the next step.
Company officials say the parlay booster was made possible by its in-house technology platform.
That product model allows innovations to reach the market more quickly than if they were produced by an outside entity. It also allows for seamless cohesion between products.