Before PASPA was repealed in 2018, the only way to bet on sports in the vast majority of US states was through the murky world of offshore betting sites.
Today, with legal sports betting gathering pace across the US, the picture is a whole lot brighter. Bettors in legal sports betting states are kicking illegal sites into touch and choosing licensed alternatives.
However, the industry is still very much in a period of transition. While licensed betting sites are becoming more prominent, offshore betting sites are not going anywhere fast.
With the lines blurred between legal and illegal betting sites, this article helps to address the key differences.
Safety
The fundamental difference is: a regulated betting site is safe and an offshore betting site is not.
A regulated betting site is governed by a US licensing body, such as the NJDGE, having acquired a license through a land-based operator. For instance,Bet365 is legal in New Jersey through its partnership with Hard Rock Casino in Atlantic City. If a betting site is licensed it has met strict regulatory standards and been deemed safe and reliable.
Safe and reliable aren’t two words you can associate with offshore sites. While they claim to be licensed in the US, they’re not. Instead, they’re “licensed” by countries and islands in the Caribbean such as Costa Rica, Panama, and Curacao, which essentially means they’re not licensed at all.
Without a regulatory body to answer to, security is a big issue. Besides not getting paid winnings, you run the risk of your security details getting compromised if you use an offshore betting site.
Payment Options
At licensed sportsbooks, you can choose from a range of popular and trusted payment methods such as PayPal, credit/debit cards, Neteller, via a bank transfer, to mention a few.
You can share sensitive financial information and deposit in confidence, knowing your money is in safe hands with a payment provider you probably use frequently for online purchases.
By stark contrast, payment options are usually very limited at offshore sites with Bitcoin and other cryptocurrencies front and center, in place of the typical methods you’d expect to find.
Responsible Gambling
Gambling companies have a duty of care to make sure their customers wager responsibly.
Legal betting sites have measures such as self-exclusion programs and deposit limits in place to prevent bettors from wagering more than they can afford. Making support groups and charities easily accessible for punters in search of support is another way legitimate sites endorse responsible gambling.
As you probably guessed, offshore betting sites offer no such protection. If you have a gambling addiction, there’s a next-to-zero chance that you receive the help you need.
Mobile Apps
Visually, offshore betting sites do not look like they belong in 2020, appearing old fashioned and extremely basic. And you’ll notice how offshore operators do not offer mobile apps.
Well, there’s a reason for this; regulated operators work with leading technology providers to deliver the best online betting experience which includes developing state-specific mobile apps for iOS and Android users.
Since offshore sites are unreputable and not based in the US, they simply cannot compete. Geolocation and account verification procedures make it virtually impossible for them to offer anything other than a very basic website.
Final Word
It pays to use regulated sportsbooks, in more ways than one!
With US sports betting moving at the pace it is, the gap between legal and offshore betting sites will soon be substantial. So much so that the difference will be as clear as day and the need for this conversation will matter less.
But, until then, just know that legal betting sites are best.