After a couple emails from readers who were contemplating offshore betting we decided to write this piece. We are calling it “the complete guidebook to betting offshore” and it has already been recognized as one of the finest pieces of information on the topic of offshore sports betting throughout the betting community. Most of our readers already know why you should be placing your bets offshore, bonuses, convenience, reduced juice, etc. etc. but a lot of players simply are confused on how to do so. After reading this piece of literature you will be fully prepared to start offshore internet betting.
The first step is to choose a quality online sportsbook. This is the most important piece of betting offshore. There are over 1000 internet sportsbooks out there today, most of which are low quality books that don't deserve your action. You always want to stick with the big boys, books that have a good reputation, excellent customer service, and that are rock solid financially. Lets face it after you win, you do want to get paid quickly and hassle free. If you don't know which books are quality, well run businesses, we do have a sportsbooks section which lists some of the superior offshore sports betting books we personally bet at daily. All of the books listed on madduxsports.com are top notch and include a sportsbook review so you can see all their company information, bonus plan, and contact information.
If there is an offshore betting online portal you are considering playing at, but isn't reviewed or recommended by Maddux Sports, you can check out a website called sportsbookreview.com for a letter grade. They are one of the few honest review sites out there that doesn't have an agenda or favoritism towards certain books. We must warn you though; these days there are plenty of sportsbook review sites on the Internet. Most of these websites are owned by sportsbooks or affiliates and the advice or suggestions they provide should be deemed biased.
After you have found the book that suits your betting needs, you are going to need to sign up for an account. This is a pretty simple process; they will ask you for your name, address, to create a password, etc. etc. They ask you for the pertinent information, if you have ever made a purchase online it is the same type of deal. If you are not all that Internet savvy, most books will allow you to call their 800 number and setup your account over the phone. But again the online signup process is pretty straightforward.
After you have registered for an account, you are going to need to deposit funds into the offshore betting account. Different books offer different deposit options so you will need to see exactly which methods your book does offer. Each book is different but normally clicking on the cashier or the deposit link will inform you what methods they accept. The most common ways to deposit are bank wire, western union, visa, mastercard, and money transfer through online companies like neteller, and moneybookers. Royal mobile baccarat bar.
Bank wire is pretty self explanatory; you transfer funds through your bank account to the sportsbook to start betting.
For western union, you will need to contact the sportsbook and request the receiver's information. You will need their name, city, country, and zip/postal code. They will remind you to add your account number when you send the funds to speed up the deposit process.
Visa and Mastercard deposits are a little trickier. The first problem with credit card deposits is some banks have stopped allowing deposits to offshore betting sites. It all depends on the website and your issuing bank if a credit card deposit will work. Quite frankly credit card deposits are becoming a thing of the past since they always don't go through and the maximum deposit is usually pretty low.
By definition, 'offshore betting' is a type of sports betting that is conducted outside the mainland, whether this is the USA, Australia, Canada or even China. Nov 05, 2020 Offshore sportsbooks accept members from all countries, offer competitive odds, and give several bonuses that will help you to make a fast start. As long as you play at the top 5 offshore bookmakers, you can get all of these advantages and more. If you want to learn more about offshore sportsbooks, keep reading this betting guide.
As much as credit card deposits are a thing of the past, money transfer through neteller, and moneybookers are the ideal way to deposit these days. Much like paypal, (who no longer accepts online gambling transfers) these 3 companies allow you to send and receive money to online merchants instantly. You transfer funds to your neteller, moneybookers, or firepay accounts via your bank account and than use that money to deposit at the sportsbook and start betting offshore. Signing up for either one of the accounts is a simple task and takes just minutes to do so. You can click on any of the links above to visit each website and see which one you are most comfortable with. If you don't know which one to choose our personal preference is Neteller. We have been using Neteller for a few years now and in our opinion is the easiest and fastest way to send funds to and from a sportsbook.
Okay so now you have selected a sportsbook, signed up for an account, and have money available to start betting, what's next? Well clearly it is time to start placing your wagers. Each sportsbook has an easy to use wagering menu. It should be clean and concise so placing bets can be made swiftly and with ease. Most books will have it setup where you need to enter your password or initials to verify your wager. This avoids any misplaced bets or mistakes you may have made. After you have verified your wager you will be able to hit the pending wagers or open bets link and see all open wagers you currently have.
Once the game you bet on is over, you will be able to login and see your new account balance. The bigger books are pretty good at grading wagers within a half hour after the sporting event has ended. Some are quicker, some slower, just all depends on the time of year, the sport the wager was placed on, how busy they are, and how many graders the book has working. It is recommended to record all your offshore betting transactions in a log to track performance, betting trends, and any information you may need to look back on someday. This is not essential but highly suggested by Maddux Sports.
Okay so you have picked a few more winners than losers and would like to collect some of your winnings. It is time to request a payout. Most of the offshore betting parlors offer 1 free payout a month. Again some books may give free payouts for only certain withdrawal methods while others may offer free payouts via all methods. This all depends on the sportsbook and you should be able to view all their fees via the website. Please note if you deposited via credit card, it is mandatory for the sportsbook to credit the full amount of the deposit back onto your card before any other method can be used to receive money. Just another reason why credit card depositing, should be a last resort in terms of depositing. Stick with neteller or a cashiers check as again these are the easiest and quickest ways of getting your funds.
That pretty much sums up the offshore betting process in a nutshell. We thank you for taking the time to read our guide to betting offshore. If you still have any questions feel free to shoot us an email and we can help you through the process the best we can.
The recent decision of the United States Supreme Court in Murphy v. National Collegiate Athletic Association that overturned the federal law that makes sports gambling illegal will have far-reaching impacts on the sports wagering marketplace. While the decision has led to the legalization of sports wagering in several states with efforts to legalize in many more, this still does not change some of the issues facing offshore sportsbooks that cater to U.S. players. It remains to be seen where gambling volume will go, but regulation will make wagering in states safer.
Federal Law and Offshore Betting
Offshore Betting Legal
Murphy did not legalize sports betting nationwide, nor did it permit offshore entities to accept bets from American gamblers. The same prohibitions that caused federal law enforcement to crack down on online poker during Black Friday still remain in place with respect to offshore betting. Specifically, the Unlawful Internet Gambling Enforcement Act, which provided the legal underpinnings for Black Friday, still remains in place. Also, the WIRE Act is still valid federal law. In other words, unless there is a state law making wagering legal, it is still illegal to accept wagers.
Competition with States
Given that offshore betting entities will be in competition with taxpaying entities that are licensed to operate in various states, there is a potential for a crackdown on these entities in the future. The reality is that there are high stakes associated with sports wagering revenues, and after Murphy, states will have a vested interest in keeping sports betting onshore. It is projected that sports betting revenues will surpass $6 billion by 2023. Although it is difficult to estimate the total revenues of offshore sports betting, a rough estimate of their profits is between $2.5 billion and $3 billion. There are currently between 12 and 15 million sports bettors who wager through unregulated betting venues.
While winnings from offshore sportsbooks are taxable, the reality is that few taxes are paid on these winnings, giving the government a motive to curtail these operations. Although individual players are not at risk, the offshore operators are.
Tools for a Legal Crackdown on Offshore Betting
There are various mechanisms that law enforcement can employ in a crackdown against an offshore gambling operator. These methods are tried and true and have been used by the federal government before in contexts other than gambling.
First, it is important to understand the laws that can provide a framework for legal enforcement. There are two sets of laws that apply to gambling in this country. First, federal law governs some of the interstate elements of wagering, including wire communications and money transfers. Additionally, prior to Murphy, certain categories of betting, such as sports betting, were deemed illegal outside of Nevada. Second, the actual act of gambling itself is covered by state laws. Any enforcement by U.S. Attorneys will be related to federal laws. In addition, states have made various attempts in the past to crack down on online gambling.
The primary federal law that applies is the WIRE Act. This law makes it illegal to use wire communications to transmit bets or wagers or to assist in these activities. This enables the federal government to charge offshore betting operators with a federal crime for their use of the internet, which is considered to be a “wire communication.” Additionally, the Travel Act has also been read to prohibit online sports wagering since it makes illegal the use of interstate commerce to distribute proceeds of unlawful activities. Finally, UIGEA targets, among other things, the money transfers that power offshore sports betting. The UIGEA makes it illegal to accept payments in connection with wagers.
There have been efforts in the past on the state level to pressure internet service providers into ceasing to allow betting entities to operate in their states. For example, in 2009, Minnesota attempted to require ISPs to block state residents from accessing these sites online. This was challenged in a lawsuit and the eventual result was that Minnesota relented. There are other concerns, such as free speech issues, that make going after ISPs a tenuous proposition.
Offshore Betting Legal
An effective tool that the federal government may deploy against offshore betting is enforcement under the UIGEA. Initially, payment processors sharply curtailed their activities in response to the legislation. Credit card companies exercised extreme vigilance in scrutinizing transactions with an eye towards compliance with the UIGEA. However, payment processors are much less afraid of government enforcement action than they were in the past, in part due to a lack of enforcement since UIGEA. Recently, credit card companies have begun to fund online gaming businesses. All that they require is a letter from the gaming operator’s lawyer that attests to the legality of the contest offered. Should the federal government act against the payment processors, it could effectively cut off the flow of funds to offshore betting.
Offshore Betting Guide
Benefits of Betting in the U.S.
The recent trend towards the legalization of sports betting may help move some sports betting back onshore. This may have several benefits for sports bettors. First, offshore betting is completely unregulated. Players have no legal or regulatory protections whatsoever, and they assume risk every time that they place a wager in this medium. Consumer protection is an issue because there is nowhere to go to file a complaint in the event that a customer believes that were treated improperly. Further, there are no rules to be upheld other than the offshore operator’s own rules. By placing wagers onshore, through a licensed operator, players receive regulatory protection in the event that they experience an issue. There are established rules that sportsbooks must follow in order to maintain their licenses.
In addition, onshore operators will afford players a higher degree of safety than they would receive when betting offshore. There are numerous horror stories of offshore operators going under and taking their customers’ money down with them. There is less of a risk of this occurring with a licensed onshore casino. As regulated entities, these casinos will be scrutinized and regulatory attention may serve to prevent costly bankruptcies.Free Betting News & Bonus OffersFind Out When You Can Legally Bet in Your State