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Betting Offshore - How to Stay Safe

Betting Offshore - How to Stay Safe
When trying to find yourself a proper betting venue, you will certainly hit a few snags. Offshore betting in the USA is popular, albeit illegal. If you are a punter who dabbles in that type of gaming, we are here to help you stay safe. We will discuss the legal aspects of gambling this way. Not only that, we will see if it’s worth it for you as a gamer to be in fact gambling on sports as such. The answer is tricky. Let‘s delve right into the fine details and see what everything is on about.

Offshore Betting – Am I Legally Obliged Not To?

If you want to wager from the US, you can still do it. There are consequences, though. However, those are not really as grave as you might expect. While advertising openly that you are indeed betting on sports wouldn’t sit well everywhere, nobody is going to go after you for a few hundred dollars. Assuming you can win this much. However, you will still have to declare the amount and pay taxes on it.. Yes, there are no two ways about it. However, if a bookmaker tries to operate in the country – they will be sanctioned and shut down. In a nutshell, while we don’t recommend nor think it’s right for people to be betting if the law states otherwise, we still outline the realities of the sports betting situation, such as this is.

The Drawbacks of Offshore Betting

Now, the big snag with this type of activity is that you may suffer. More particularly, your bankroll may be the one to suffer. There are many things that can ruin the experience for you:
  • Fraudulent bookmaker – Yes, oftentimes you run into the bad apples and they are not the kind sort. They will rough you up and take your capital away. If they are finally closed, it must be because they had caused quite the outrage
  • All fees are on you – You will have to pay for every transfer yourself. Every one last of those little payments will ultimately fall on your as a responsibility
. And these are just two of the things you may want to be on the lookout for. We will now provide you with tips & tricks how to stay safe.

How to Stay on Top of All Offshore Betting

When moving offshore, you will have to do several things that will help you avoid the bad apples. Let’s start with reputation. The longer a bookmaker has been around, the better. In other words, you need to be able to track the bookmaker’s interactions with the customers over a long period of time. If things have been going well, you have one reason to believe that you may have made a good choice. Or about to in any case. Next, you need to check the wagering requirements. The wagering requirements will help you understand a bonus better. The more unfair they seem, with rollovers over 5 times of both deposit & bonus money the less likely it’s for the bookmaker to be up to any good. Lastly, the payment methods won’t be able to tell you much. Sadly, offshore betting is difficult and you will never be able to squeeze much profit out of your investment. Gaming with offshore operators is indeed risky. But the problem stems from the fact that you have to pay for every transaction yourself and those costs are not as light as you would have hoped for them to be!

Final Thought About Betting Offshore

Whether you want to practise a beloved hobby or just explore an extra revenue stream, you need to be vigilant. Vigilance is a must, but you may be happy to hear that soon enough, sports betting may indeed be legalized in the US, which will help you exercise your hobby right on the spot! We will be following the events as they unfold. Most recently, bet365 announced that it is seeking to lobby for sports betting in New York. And New Jersey is on the cusp of effectively sign sports betting into law.

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