Opening an Offshore Online Sports Book
— Serve many US states and Canadian provinces
— Avoid state regulations
— licensing requirements that are Light Cons
— Either prohibited or a grey area in many countries
— Bad reputation due to nefarious sportsbooks
— Licenses aren’t always reputable
— Prosecution is a potential
Where are Offshore Sportsbooks Legal?
Offshore sportsbooks aren’t technically legal anywhere. They operate in a gray area, serving lands and countries that don’t have regulated markets or rigorous online gambling legislation.
Most sportsbooks operate in Caribbean nations and Central America. Antigua, Costa Rica, Curacao, and Panama function as popular licensing jurisdictions for offshore operations.
The US and canada are popular targets for offshore sportsbooks. The reason why is because the two countries are mostly unregulated and don’t take much legal action against overseas operators.
But most sports betting sites avoid the next American countries:
Delaware — Regulated online gaming market. Kentucky — Has taken action against gaming websites. Maryland — Has legal actions against gambling websites. New Jersey — Regulated online gambling market. New York — Has actions against gambling websites. Nevada — Regulated online gambling marketplace. Washington — Felony laws against online operators & gamblers.
What to Expect
Offshore sportsbooks are a good way for businesses and people .
Most offshore betting websites obtain licensing from and base themselves from the aforementioned jurisdictions.
The good thing is that licensing isn’t as expensive as what you’d pay in the UK or Malta. The good thing is that offshore authorities have very little oversight over their clients and don’t inspire much confidence.
This has resulted in terrible incidents, where sportsbooks treat players badly, refuse to cover certain wins, and/or close down without repaying player funds.
World Sports Exchange (WSEX) and Wager506 are two examples of offshore sportsbooks that closed without honoring player funds
The picture of the offshore industry has hurt. But Americans, Canadians, and other people with no additional controlled options are still making online wagers.