To the surprise of some, the NFL is nearly back.
The lack of preseason games means the sport is likely to sneak up on casual fans.
For the first time in decades, the NFL has flown under the radar in late summer for many Americans.
One group well aware of its return?
Easy money for Hoosiers with PointsBet Colts promotion
The promo moves the Colts-Jaguars Week 1 line one point in Colts bettors’ favor for every 200 bets.
The line, which started at Colts -7, was up to Colts +9 by Thursday evening. Expect the line to rise to an absurd amount completely out of reach for the Jaguars by Sept. 13.
For instance, the line reaching Colts +40 would mean the Jaguars would need to win by more than 40 points for bettors to lose.
As long as the Colts lose by less than 40 points (or win), bettors taking advantage of the crowd booster would profit.
PointsBet has placed odds at +100, doing bettors a nice favor.
The sportsbook, however, has set the max bet at $25, meaning bettors can at best profit an additional $25.
Booster is an example of sportsbook tactic
PointsBet is likely to see substantial losses on the deal.
A similar promo from FanDuel earlier this summer saw the sportsbook lose nearly $5 million.
In that example, FanDuel ran a national deal that moved the Lakers-Clippers line one point for every 2,500 bets. The Lakers, who started at -4 for the game, ended at +52.
The deal included a max $50 bet.
PointsBet’s decision to halve that max bet and limit it to Hoosier bettors means the sportsbook’s losses won’t near what FanDuel incurred.
Still, it is likely to be significant for a smaller sportsbook without the same consistent fan base.
What is clear is that sportsbooks have decided that “free-money promotions” are worthwhile investments.
For PointsBet, the hope is this deal will entice new bettors to download their app, along with bettors currently on other apps.
Not the only Week 1 promo available
PointsBet isn’t the only sportsbook with this idea at the outset of the NFL’s 101st season.
The laughable line has been set at +101 for the Kansas City Chiefs against the Houston Texans.
In other words, bettors win as long as last season’s Super Bowl champs don’t lose by more than 101 points.
The promo has a max bet of $50 and boosted odds of -110.
That means anyone who bets $50 will win $45.45 if the bet is a winner.