Amaya’s BetStars announced a new sports betting product today, called Spin & Bet sports wagering.
Spin & Bet, at a glance
The product is an unusual twist to straight sports betting. Players will have an additional choice available only at BetStars when placing money on a game beyond the typical offerings.
Spin & Bet wagers add an additional gambling element. Players can receive up to 10 times the original bet if they win by choosing this feature.
The potential payouts are 1x, 1.5x, 2x, 5x or 10x the wager. Players will pay an additional 10 percent in juice for the opportunity to play this sports betting lottery.
The multiplier only applies to the portion of the wager that goes toward the payout. For example, a bet that would pay $10 without juice will pay $9 in the Spin & Bet format. If a player hits the 10 times jackpot, he would receive $90 if the bet wins.
More about the launch
“We’re really excited by the launch of Spin & Bet, which we believe is set to be the game-changing innovation in sports betting this year,” said Guy Templer, Director of Group Business Development and Strategy for Amaya.
“We’re convinced our customers will love the new product as it brings a new and exciting dimension to betting for sports fans around the world,” Templer continued. “This is only the first in a number of exciting, unique products that we expect to introduce in 2016 to distinguish the BetStars brand from its competitors.”
Spin & Bet is a variation of Spin & Go tournaments available at BetStars’ sister site, PokerStars. In these three-handed sit-and-go poker tournaments, a lottery feature determines a potential prize pool multiplier. A prize pool of 12,000x is the Spin & Go jackpot.
PokerStars is the world’s largest poker site. It is seven times larger than its closest competitor, according to PokerScout. BetStars is a new sports betting brand connected to PokerStars; both are under the Amaya umbrella.