Whether you love football betting or casino gambling, you can find your place on online sportsbooks. And with the growth of online betting platforms, sports betting has become increasingly popular over the years. Since gambling has become a fast-growing sport of its own, several platforms have been developed where individuals can place bets, both locally and overseas. So what’s the difference between the two, and is one better than the other? Let’s find out…
What Is The Difference Between US-Regulated And Offshore Sportsbooks?
Regulated and offshore sportsbooks are both online sports betting platforms that allow users to place bets on their favorite teams and enjoy the rewards that come with winning those bets. However, the main difference between regulated and offshore sportsbooks is seen in their regulatory monitoring and the degree of consumer protection provided. Essentially, the platforms offer very similar services, but hold their licences from different jurisdictions.
Is Sports Betting Legal In The US?
Yes, it is, and there are 30 states in the US that are marked as legal and live to all gamblers. This is why there are numerous regulated sportsbooks available to all customers interested in gaming and gambling. These sportsbooks have become well-renowned among many customers because of their rules and safety of funds and other confidential information.
Before sportsbooks can operate, they need to be approved by the state, which checks for the level of safety of the platform. Regulated sportsbooks go through an extensive process of being verified before they can operate, thus they are the best websites to use for sports betting in states where betting is legal.
So, there are still many states that don’t allow gambling and therefore don’t have locally-licenced sports betting sites available to residents yet.
What Are Offshore Sportsbooks?
Offshore sportsbooks are those that are based and operate outside the US, but welcome gamers and gamblers who are based within the US (or elsewhere). Offshore sports betting is available to those in states without local betting options, as these sites operate outwith US laws – they’re in a gray area in most states. That’s not to say they’re unlicenced: most of these platforms are based in Curacao or other overseas iGaming-friendly locations. Users of such offshore sportsbooks need to find the best betting regulated outside of US borders platforms to enjoy their betting experience and ensure they are playing safely.
Which Is A Better Option: Regulated or Offshore Sportsbooks?
Both offshore and regulated sportsbooks come with their benefits and challenges, which customers may enjoy or find to be risky. They are different and can offer different benefits to customers, thus the choice to use either or lies entirely up to individuals.
Advantages of Choosing Regulated Sportsbooks
Regulated sportsbooks can offer a wide range of benefits to their loyal and new customers. Some of the benefits that customers can enjoy when using regulated sportsbooks include:
- Deposit and withdrawal options are the generally accepted options such as credit cards, Payoneer, and PayPal.
- Your funds are protected and remain safe.
- Greater protection in the event of a dispute.
Advantages of Choosing Offshore Sportsbooks
Although offshore sportsbooks are unregulated in the US, they may offer customers some benefits that regulated sportsbooks cannot offer. Here are some of the advantages of using offshore sportsbooks:
- A wider range of deposit and withdrawal methods are accepted, such as cryptocurrencies.
- Offer customers a chance to bet on more sports and other events.
- Reduced taxes on winnings, and other costs.
- Bigger bonuses, as US state limits on what can be offered do not apply.
Offshore Sportsbooks Can Offer You Great Benefits Just Like Regulated Sportsbooks
There are several US- regulated sportsbooks that individuals can use to place sports bets, but there are also trusted offshore sportsbooks that individuals may be tempted to use. To figure out if platforms are reliable to use, individuals need to check out their ratings and reviews to avoid losing their funds to scams or other safety compromises.