On Wednesday night, PointsBet Sportsbook voided the Tyus Jones double-double prop bet, citing that this market was incorrectly set at +1600. PointsBet subsequently doubled down with its decision on Friday, ahead of the Memphis Grizzles’ blowout win over the Milwaukee Bucks, releasing a statement. More information is below, including analysis on the final verdict from the recently maligned ‘book.
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PointsBet Sportsbook Prop Bet Examination
Prior to the PAPSA repeal, and even following the monumental occurrence, offshore sportsbooks have received plenty of backlash. Whether it was regarding a wager, account balance, or withdrawal issues, there was a clear lane for soon-to-be legal markets to capitalize on. However, they must treat their customers fairly, too.
In this instance, one legal operation is clearly at fault. For starters, the PointsBet Sportsbook posted a +1600 price tag for Jones to record a double-double against New Orleans Pelicans. Before the game tipped off, traders adjusted the market without voiding previous bets on it.
After Jones initially came through for bettors who took advantage of the sportsbook’s untimely miscue, PointsBet decided to void all wagers that included its blunder.
On Friday, PointsBet Sportsbook followed up on their fumbled exposure:
“At PointsBet, our NBA double-double market requires three inputs to calculate: a player’s point line, their expected rebounds, and their expected assists,” a PointsBet spokesperson said (via ESPN’s David Purdum). “On this occasion, an error resulted in this double-double being priced using only Jones’ points and rebounds line.
“Tyus Jones’ assist line did not feed into the calculation, generating an incorrect price of +1600 for a selection that was generally available around +350 across the industry.
“To further illustrate the context of this error, we can share that Tyus Jones’ double-double price with PointsBet was +200 against Orlando on March 28th +300 against the Mavericks on March 20th. The incorrect price remained on the site for nine minutes before being removed. Additionally, PointsBet removed all double-double and triple-double markets from the NBA offering on Thursday evening in order to update the data query.”
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This message reads more like an internal note. To think that it was spewed for public consumption is bizarre in its own right.
Essentially, PointsBet handed itself a free roll on this market, which is an absolute no-no among legal sportsbooks. Had Jones unsuccessfully recorded a double-double on Wednesday, the sportsbook could have just as easily let its mistake dissolve into the distance while declining the opportunity to refund bettors.
Although that notion may be considered presumptuous, then why didn’t PointsBet void the market in the first place? In a time in which state legislators — with freshly regulated online sports betting — are disapproving of offshore ‘books left and right, legal ones must be held accountable as well. The +1600 bets should have cashed.
When Does Each Party Deserve Criticism?
On a national scale, PointsBet was also vilified in July for employing Drew Brees, the record-breaking NFL QB-turned-Purdue football assistant coach, as a “prop,” in its erroneous promotional stunt. On this occasion, Brees was filming a commercial for PointsBet in Catatumbo, Venezuela, a location that has been recognized for its lightning strikes, when a bolt appears to strike Brees while knocking “wrecking” the production in the process.
Conversely, sports bettors have been heavily scrutinized over the last year for their attempts at earning refunds on their wagers that included in-game player injuries. Granted, sportsbooks delivered a false precedent by initially handing them out like candy in the first place — in attempt to both gain and retain customers.
Nevertheless, it’s the gambler who should take responsibility and recognize the potential risk in the first place.
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