Singapore authorities have taken a step forward in fighting money laundering schemes by banning cryptocurrencies at in-person or online casinos.

Money laundering has long been associated with offshore casino gambling, but only recently has it been linked to crypto schemes. Singapore has banned digital assets such as Bitcoin, Ethereum, Litecoin, and other cryptos from being accepted at their licensed casinos to add legitimacy to their online and in-person gambling services.

Betting with Bitcoin has grown in popularity over the last several years due to its convenience and fast processing times. Many players today seek online casinos that accept crypto for the bigger bonus rewards, instant transfers, and the additional security it provides by bypassing traditional banking methods.

Minister of State Sun Xueling told media sources that the changes were made to modernize the gambling industry. Xueling also stated that “The Gambling Regulatory Authority has no intention of allowing cryptocurrency to be used as chips for casino gambling as this presents money laundering risks.”

Can I Bet Online With Cryptocurrency?

Many trusted offshore betting sites will accept cryptocurrency, and several countries have even included digital assets in their in-person game rooms. For most players, crypto is a way to bypass currency exchange services and a faster way to fund an account or withdraw winnings.

For most online casinos that deal in the US dollar (USD), digital assets such as Bitcoin, Ethereum, Litecoin, and various altcoins are all converted to USD and added to the account holder’s bankroll. Players who deposit in crypto can also elect to receive their winnings in crypto.

Crypto Gambling Websites That Don’t Require ID

Be wary of casinos and sportsbooks that don’t require ID, these sites are often not licensed or regulated. Offshore betting sites such as Bovada and BetOnline allow players to sign up and bet without providing ID but require identification before withdrawing their winnings. Identification upon withdrawal is a normal process and is how most online casinos operate.

You should always read a site’s terms and conditions before signing up to avoid confusion. Most online gambling sites will accept anyone over the age of eighteen who hasn’t previously excluded themselves. Self-exclusion is another process many legitimate sites utilize for those players battling an addiction.

Bovada, the online casino and sportsbook, has announced that it will no longer accept new accounts from Michigan, Connecticut, Colorado, D.C., Delaware, Maryland, Nevada, New Jersey, New York, and West Virginia.

Bovada only recently excluded Michigan, Colorado, and Connecticut; the other states were already on the not-accepted list. This announcement comes after several states sent the trusted offshore site a cease-and-desist letter after claiming a loss of revenue for their state-licensed sportsbooks.

While Bovada could fight for access to those players, it would be easier for the site outside the US to comply instead of facing a lengthy court battle. In the past, other states have also sent letters for operators to quit accepting their client pool. States like Nevada, New Jersey, and New York were among the first to fight to retain their player pool.

Bovada has been operating legally online since 2011 when it was spurred from Bodog to target US players. Today, Bovada is still one of the most trusted online casinos available to US players and a major provider for many Americans who don’t live in states that authorize online casinos and sports betting.

Online Gambling Options For Bovada Banned States

Despite Bovada backtracking and accepting fewer players today than when they first launched, there are still plenty of legitimate offshore gambling options for all 50 states. The US States that allow offshore betting are still the majority, as Bovada is only one of several legitimate operators.

Other lesser-known casino and sportsbook operators like BetOnline, BetUS, and MyBookie have slipped under the radar and can still service Bovada-restricted states. Since there are no gambling laws that specifically make online gambling illegal, it is left for each state to decide what their residents can access online. To our knowledge, no state has passed a law banning online gambling from offshore sites. For now, only a few states are sending cease and desist letters to try to retain some players who have grown accustomed to offshore services.

Will My Bovada Account Get Locked If They Stop Accepting Players From My State?

No, Bovada will let you keep your online account and withdraw funds if you live in a recently banned state. However, you will likely not be allowed to further participate in the games found online as the site is geofenced.

The San Francisco 49ers have made history with their recent announcement of a groundbreaking offshore casino partnership, marking the first international sports betting deal for an NFL team.

Ryan Connors, Senior Director of Global Sales and Strategy for the San Francisco 49ers, stated, “This enhanced relationship gives our Spanish-speaking and Mexico-based Faithful a lot to look forward to this season through new and engaging content, both in-person and online.”

The partnership will allow the use of official 49ers logos in the sportsbook and allow the casino to host events related to the team. Last year, numerous events were to attract 49ers fans, aka “Faithful,” during the 49erteam’s post-season. The 49ers made it to Super Bowl LVIII, where they lost 25-22 against the Kansas City Chiefs. This partnership not only expands the 49ers’ global reach but also provides unique experiences for their fans, such as exclusive events and content.

Domestic Sportsbook Expansion

Since the Professional and Amateur Sports Protection Act (PASPA) was overturned in 2018 by a Supreme Court decision, states have authorized sports betting services to operate from their jurisdiction. According to the American Gaming Association, 38 continental states offer legal sportsbooks. Washington, D.C., and Puerto Rico have also authorized sports betting, and several more states are legalizing domestic sports betting.

Domestic online sports betting is legal in 30 states but often reserved for players over 21. While many states require players to jump through hoops to bet on sports online, each state has its own regulations players must abide by before placing an online wager.

Personal Experience With Offshore Sportsbooks

In addition to the numerous U.S. betting states, U.S. players have offshore sports betting options from trusted gambling regions worldwide. Offshore sportsbooks like Bovada and BetOnline have accepted U.S. players since the early 2000s and have perfected the trade with prop builder tools, in-game wagers, and odds boosters. These offshore options often provide a wider range of betting options and competitive odds, making them a popular choice for many players.

For many players, offshore football betting sites are not just an option but a preferred choice.  While I like having a drink and placing a wager at my local sportsbook, I typically find better odds online and enjoy watching the games I have laid action on in my personal space or with friends.

While I have multiple online sports betting accounts, my main source is Bovada, a platform that allows Bitcoin gambling deposits and offers fast payouts. It’s important to note that I don’t rely on my bets to pay out because I understand the risks involved. Instead, I see betting as a way to enhance the game and sometimes fund my weekend experiences.