Online Offshore Sports Betting Guide
Offshore sports betting has long been a go-to option for many gamblers looking to wager on sports, poker, casino games, and more. While these betting sites offer flexibility and convenience, choosing a safe and reputable sportsbook is essential to ensure a secure betting experience. With so many offshore sportsbooks available, knowing which ones are trustworthy and which to avoid can make all the difference.
In this guide, we break down everything you need to know about offshore betting, including its advantages, drawbacks, and the best sportsbooks we’ve tested. Whether you’re looking for better bonuses, a wider selection of betting markets, or cryptocurrency-friendly platforms, offshore sportsbooks provide plenty of opportunities for savvy bettors.
Offshore Sports Betting
What Is Online Offshore Sports Betting?
Offshore sports betting refers to the location of the sportsbook’s operators and servers. Many offshore gambling sites are located in the Caribbean or Central America. Although, lots of “offshore betting” sites are in Canada or Asia.
The term is more of an all-encompassing one, for sites that offer online betting to U.S. residents.
Bonuses
Sportsbooks Bonuses are much better for U.S. sports bettors than they are for international bettors, even in regulated climates. Offshore betting sites operate in countries where they pay little to no taxes and overhead is quite cheap.
There are no bonuses when you bet with local bookies. Bonuses are one of the critical advantages of offshore betting and online betting, in general.
Online offshore sports betting bonuses will give your bankroll an immediate boost in the range of several hundred dollars to several thousand.
Reliability
There are some great local bookies out there, but they are still not as trustworthy as most offshore betting sites.
Not only that, but there are usually far more betting markets, along with bonuses and other perks when it comes to offshore gambling.
There are several things you can try to do to get a payment out of an offshore sportsbook that isn’t complying, but it’s going to be a lot harder to force an old Italian guy to pay up.
Crypto-Revolution
Payment processors were a significant issue for offshore sportsbooks, but that has changed drastically in recent years due to crypto-currencies, such as Bitcoin or Litecoin.
Sportsbooks accept other cryptos and are adding more regularly. This has stabilized the offshore business and allowed sportsbooks and players to take advantage.
Still Not Regulated
There are plenty of positives about offshore betting markets, but lack of regulation is ultimately an issue with being paid.
In countries such as the United Kingdom, bookies bets are guaranteed to be paid, or they would be forbidden from operating within the country because their gaming license would be revoked.
The upside to lack of regulation is bigger bonuses and more deals, but they don’t offer the same level of security as legal, regulated climates.
Funds Must Be Deposit to Bet
It’s tough to call this one of the drawbacks of offshore sports betting, but when you bet with local bookies – you’re typically betting “on credit.” Which means you don’t have to deposit the funds before you can place bets.
This can put some bettors in dangerous situations, where they bet money that they don’t have, but it would be nicer, if you have the bankroll (and self-control), to settle up each week, without having to put the funds up first.
Lower Betting Limits for Key Markets
The best use of a local bookie or offline betting options compared to offshore betting is larger limits on proposition bets or smaller markets.
Most offshore sportsbooks won’t allow more than $500 (some limits are as low as $50) or so on proposition bets and smaller markets.
Lots of locals will take far more money on props and obscure markets compared to online offshore sportsbook.
This is a significant advantage due to the extra amount you can get down on weaker or softer odds before being noticed or limited.
Is Offshore Betting Legal?
Offshore betting is not always legal, but most countries don’t punish players for using these sites. Some places have strict laws against this kind of sportsbooks, while others allow them to operate.
In the US, for example, offshore betting is technically not allowed, but no one gets in trouble or has ever been prosecuted for placing bets.
The risk is more about site reliability. Some offshore sportsbooks are trustworthy, while others aren’t.
Paying Taxes On Offshore Sports Betting Wins
Just because offshore betting falls outside the legal and U.S. banking system, doesn’t mean your gains aren’t taxable. In fact, the IRS doesn’t mind how you got your money, so as long as you give them their cut.
There is less of a paper trail when betting online, but your offshore betting tax liability doesn’t change whether you’re betting with a ticket in Vegas or at an offshore sportsbook. Paying taxes on sports bets is an absolute must.
Popular Sports For Offshore Betting
Every sport under the sun is available when making offshore bets. Though online offshore sports betting sites cater to American betting habits – many have odds from just about every competition in the world.
NFL offshore betting is by far the most popular sport to bet on, but those looking for NBA offshore betting or other major sports will have no issues finding lots of markets with large betting limits.
NFL Offshore Betting
The advent of offshore gambling has been a football bettor’s dream come true. Bettors can wager tens of thousands on a game in a matter of seconds or as little as a few dollars.
Offshore NFL odds originate at Pinnacle Sports, but there are tons of other options for NFL offshore betting lines. Our NFL betting odds section has an excellent overview of odds and markets available.
NBA Offshore Betting
The second most popular sport, along with college basketball, that is bet offshore is the NBA. The league has grown heavily in recent years, which has increased viewership and offshore betting markets.
Limits aren’t quite as high as NFL, but they are considerably more than smaller market sports. Get started with the basics of NBA offshore betting with our basketball betting guide.
Find Your Edge in Offshore Betting
Offshore betting opens up a world of possibilities for sports bettors, offering competitive odds, extensive betting markets, and enticing bonuses. However, it’s not without its risks, as regulation remains a key concern. Understanding the pros and cons of offshore sportsbooks is vital to making informed betting decisions and maximizing your winnings while minimizing potential issues.
As with any form of gambling, managing your bankroll and staying disciplined is key to long-term success. Ensuring you bet with reputable offshore sites and following best practices for security and responsible gaming can help you make the most of your experience.
If you’re eager to sharpen your betting skills and explore more advanced strategies, check out our in-depth sports betting resource hub. From understanding market movements to leveraging bonuses effectively, our expert insights can give you the edge needed to make smarter bets.
