Why Offshore Betting Sites Will Not Be Affected By New USA Gambling Laws
Even with the federal sports betting ban removed offshore sportsbooks and other offshore wagering services are in no imminent danger of going away.
On May 22nd, 2018, the Supreme Court of the United States (SCOTUS) ruled that the Professional and Amateur Sports Protection Act (PASPA) was unconstitutional. The PASPA act was first enacted in 1992 and was a federal law that banned domestic sports betting in 46 of 50 states. During its 26 years of existence, the PASPA act shaped how many people looked at sports betting in the United States.
Now that PASPA is out of the way, several US states have already enacted laws and launched domestic sports betting operations. Some of these operations also include online sports betting within state lines or mobile betting while on casino grounds. Below you will find several reasons offshore sportsbooks and other offshore wagering services need not to worry about the changing gambling landscape across America.
As It Stands – The Federal Wire Act
The Federal Wire Act is a federal mandate that restricts online gambling services in the USA from crossing state or country lines.Until the Federal Wire Act is repealed orrevised, states will not be allowed to offer online services across state lines. States that have enacted online gambling platforms must have location restrictions based on GPS coordinates or ISP providers.
Built On Reputation
Offshore sportsbooks and other offshore gambling services have been servicing a majority of the United States for over a decade now, and many bettors have grown accustomed to the betting service. While US gambling laws make using an offshore betting service harder, many users and account holders have found ways to make the service work for them.
Offshore Bonus Options
Offshore gambling services like to add bonus funds, perks, and other incentives for their account holders.Online bonuses are one of the best perks for playing an offshore site. Casino, sports, poker, and bingo services all use online bonus options to lure in potential account holders. These bonus incentives can be lucrative for online players and are often a deciding factor for which site to play.
The Cryptocurrency Option
Offshore gambling services are typically trendsetters when it comes to online commerce. Offshore sportsbooks, offshore casinos, and offshore poker sites are all among the first online commerce sites to accept cryptocurrencies. Not only do they accept crypto, but some offshore sites will accept multiple forms of cryptocurrency including BitCoin, LiteCoin, Dash, Ethereum, BitCoin Cash, and more.
User-friendly deposit methods, customer reputation, and sportsbook bonuses are often the tipping factors over US-based online sportsbooks. The main concern for US online bettors is the withdrawal process. The Unlawful Internet Gaming Enforcement Act (UIGEA), specifically bans banks from processing transactions received from offshore gambling services, and in some cases, this might be the deciding factor for potential account holders.
Other Stats And Predictions
The American Gaming Association estimates that Americans collectively wager about $150 billion annually in the black market and with offshore sportsbooks. That number is likely to fall over the next few years as many more states are considering the option of legal sports betting. However, while legal US sports betting might hurt some offshore profit margins, don’t expect offshore betting sites to be going anywhere anytime soon.
Some offshore operators are predicting that the legalization of sports betting and other online wagering services across the USA will increase revenue to their sportsbook, poker, or casino site. Many people believe that the legality of online gambling carries a stigma resulting from the April, 15th, 2011, Black Friday debacle. Now that new gambling legislation is passing across the United States more people will be informed of the legalities surrounding online gambling and offshore gambling sites locally and from afar.
Over the past year, the US has seven states that have launched domestic sports betting and numerous other states that have launched state-based online gambling services.