Offshore SportsBooks Will Always Be Around
What is the future of Offshore Sportsbooks? When the U.S. Supreme Court rescinded the Professional and Amateur Sports Protection Act (PASPA) in 2018, it opened the door for legal sports gambling in the states. Several states have legalized sports gambling, but bettors all over the country still utilize the services of unregulated offshore sportsbooks.
Why?
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It’s a great question and the answers will prove that offshore sportsbooks aren’t going anywhere. They will always be around.
Competitive Pricing
In the US states where sports betting is legal, fan viewership is up as is fan engagement. More people are placing legal wagers and the states’ revenues are up.
The problem is that in these regulated markets the best prices are not always available. When it comes to setting competitive odds and lines, you can’t beat over three decades’ worth of experience.
Offshore sportsbooks have been doing this for a long time. Not only do they offer better pricing, but they also offer a wider range of bets. You will find more markets available at an offshore book compared to a legal one in the US.
Interestingly, a recent survey showed that over half of all bettors will choose an offshore sportsbook even when a legal book is available.
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Offshore SportsBooks – The Only Option
There are times when an offshore book is the only option for a bettor. Even with the rescinding of PASPA, there are still states where sports betting is illegal. The only option for those bettors is to use an offshore book.
There are also times when the wager you are looking for is not offered at your local legal sportsbook. It can only be found at an offshore book.
Habit
Humans are creatures of habit. We drink the same coffee, eat the same foods, visit the same websites for our gambling news and watch the same TV shows over and over. When you get in the habit of working with an offshore sportsbook – especially one that takes great care of you – it’s hard to break that habit.
Why change sportsbooks just because it’s now legal? For many bettors, it would be like trying to fix something that isn’t broken.
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Deposits & Payments
The methods of funding your sportsbook account and how you can withdraw from it are another reason why bettors will always use offshore books.
In addition to some of the more traditional methods of deposit and withdrawal – credit card, for example – offshore sportsbooks accept a number of different cryptocurrencies. Bitcoin is, of course, the one that most bettors are familiar with.
Using these cryptocurrencies also allows bettors to maintain some form of anonymity. There are bettors that like to remain anonymous. Betting at a legal sportsbook, bettors would have a hard time remaining anonymous.
Offshore sportsbooks have been around for a long time. They have an advantage when it comes to setting lines and odds. They also offer a wider range of betting markets than regulated sportsbooks.
Bettors like using offshore sportsbooks and will continue to do so regardless of how many US states legalize sports gambling. Offshore books will always be around.