Top 5 Offshore Sportsbooks
The world of sports betting has changed quite a bit throughout time. From some of the first bets placed at the Roman Coliseum, to the innumerable amount of top rated offshore sportsbooks that exist today. The system used reveals only the best and highest regarded sportsbooks for players to play at. Here are the current Top Ten sportsbooks as ranked by bangthebook.com for the 2020 sports betting season. Top 5 offshore sportsbooks Below you can see our list of best offshore sportsbooks according to fast payments, security, American sports and other important criteria for US players. By clicking on each offshore sports book logo you can read a dedicated review that includes useful information such as accepted payments and licensing, so that you. You can equally rest assured that our top 5 offshore sportsbook have been listed by virtue of their overall offer – and bonuses. While we understand that $1,000 can be a lot of money to have in 'free bets,' we also know that what matters to a good bettor in the long term is the availability of great lines and quick payouts, both of which are.
Many states and countries have legalized online sports betting or are in the process of doing so. Taking that into consideration, more gamblers than ever before can place legal wagers at licensed betting sites.
Nevertheless, plenty of people keep wagering with offshore bookmakers. The latter refers to betting sites that operate in markets without a license.
They may hold licensing in the jurisdiction where they’re based. However, they have yet to obtain approval from all of the markets they serve.
You’d think that gamblers would want to stick with legal, licensed, and the safest online betting sites. Yet they continue choosing offshore sites in some cases.
What’s the appeal behind unlicensed bookmakers? As you’ll see below, five main reasons exist behind this phenomenon.
1. Offshore Betting Sites Are Sometimes the Only Option
While many jurisdictions have legalized betting, plenty of other regions haven’t.
The reason for why some governments don’t regulate sports gambling tend to vary. Some lawmakers see betting as a moral issue, while others just can’t agree upon legislation.
The gamblers, meanwhile, are more willing to bet with offshore bookmakers in lieu of other options. They usually don’t face any sort of criminal charges for doing so either.
Only in rare cases does a gambler need to worry about getting arrested for betting at an online sportsbook. China and North Korea are among the rare places that threaten legal action against internet gamblers.
2. Many States and Countries Don’t Ban Offshore Sportsbooks
Some jurisdictions feature a gray market when it comes to online betting. They don’t distinctly mention that internet sports wagering is illegal, yet they don’t declare it legal either.
Offshore sportsbooks feel comfortable operating in these jurisdictions. They serve such markets with little fear of retribution.
Of course, governments can feature ambiguous laws that threaten unlicensed betting sites. The wording of the United States’ Wire Act leaves the option open to prosecute illegal betting operators.
Here’s an excerpt from the 1960 Wire Act:
“Whoever being engaged in the business of betting or wagering knowingly uses a wire communication facility for the transmission in interstate or foreign commerce of bets or wagers or information assisting in the placing of bets or wagers on any sporting event or contest […]”
In 2011, the US Department of Justice (DoJ) interpreted the Wire Act to only apply to online sports betting. In 2018, they updated their opinion to suggest that any type of internet gambling is illegal.
The latter interpretation has faced fierce backlash from states with regulated online gambling. In any case, the DoJ feels that unlicensed online betting should be illegal.
Do offshore operators seem to care, though? No. They’ve treated the DoJ’s opinions as just that—opinions. Therefore, unlicensed bookmakers don’t usually stop serving jurisdictions until they see strong legal action.
Long story short, online betting sites will continue serving a market until they feel that doing so carries significant legal risk.
3. Legal Betting Markets Don’t Always Offer Competitive Odds
One key advantage that legal bookmakers enjoy is the ability to advertise through mainstream outlets.
They can run advertisements through:
- Local newspapers.
- TV stations.
- Social media sites.
The latter option is especially effective because it gives betting sites the ability to promote through Facebook, Instagram, Twitter, and YouTube when permitted.
The big downside to regulated markets, though, is that they carry licensing fees and/or heavy taxes.
Licensed bookmakers don’t just eat these costs with no problem. Instead, they must pass the costs onto customers through one form or another.
In many cases, they feature slightly worse odds than offshore markets to counteract the licensing fees and taxes they’re paying.
This scenario isn’t always the case. Some real-money online sportsbooks are successful enough to where they can operate in licensed markets and still feature competitive odds. In other situations, though, bookmakers do pass on costs through either unfavorable odds or fewer promotions.
You don’t need to worry as much about unfavorable odds at unlicensed betting sites.
Of course, the same reduced vig operators may not provide any bonuses. But you can still get ahead by taking reduced juice over promotions.
4. Some Gamblers Are Used to Unregulated Sites
Offshore betting has a longer history than regulated sports gambling. Unlicensed bookmakers have been operating since the mid-1990s.
With that said, many of today’s gamblers are used to unregulated sportsbooks. They’ve been betting at these sites for so long that they’re not bothered by the unlicensed aspect.
Most of these sites operate out of weak gambling jurisdictions, such as Costa Rica or Belize.
These bookmakers may have to obtain approval from the Costa Rican or Belizean governments before operating. However, they don’t need to worry about living up to lofty standards in the markets they serve.
An offshore betting site could theoretically shut down and never repay its players. In this case, you’ve lost your deposit. Luckily, this doomsday scenario isn’t common.
In fact, some of these operators have been in business for over a decade or more. Bovada and BetOnline are prime examples of success stories that have lasted by treating customers well.
5. Offshore Betting Sites Can Be Just as Good as Legal Bookmakers
You should always perform research before signing up with any sports gambling site. You can read reviews on top-rated betting sites and even visit them yourself to get a better picture on their reputation.
Assuming you compare offshore and legal bookmakers in this regard, you’ll find that unlicensed sportsbooks aren’t far off. In some cases, they can even be better than licensed operators.
The key aspects to consider when looking over online bookmakers include:
- Markets
- Odds
- Banking options
- Deposit and withdrawal limits
- Bonuses and promotions
- VIP program
- Customer service
Regulated bookmakers typically beat their offshore counterparts in the bonus and promotions department hands-down.
Many legal betting sites are still jockeying for a better position in the market and offering incredible bonuses to lure gamblers.
Everything depends upon the bookmaker in question.
So, after having learned all of that, you don’t need to write off an offshore betting site immediately. If they have good customer service and stand out in most areas, then they’re worth considering.
Conclusion
Legal sports gambling is becoming quite common throughout the world. Many governments see betting as a way to bring in lots of tax revenue.
Offshore betting isn’t going away anytime soon.
In some ways, offshore bookmakers are still the superior option. Unlicensed betting sites have been around for decades. They continue drawing gamblers in due to their solid odds and willingness to operate in gray markets.
Eventually, offshore bookmaking will fade away, as more and more jurisdictions legalize betting.
Top 5 Offshore Sportsbooks Charts
But this may not happen for a while, so it’s best to get to know your legal options, as well as the best offshore online betting sites.
Don't you hate when your watching a game on tv and you get a feeling that one team is going to blow out another and just wish you could place a bet? Well if that is the case you have come to the right place as you can now place that bet at an offshore sportsbook.
At maddux sports we are a team of professional sports bettors who have made our livings beating the oddsmakers daily lines season after season. We would not be able to do this without the use of several offshore sportsbooks. We have listed a few of the respected offshore sports books that take our action daily below.
Each offshore sportsbook offers some sort of bonus or special to get you to start wagering at their establishment this season. The 2 we have listed on this page here are canbet and Bookmaker. Both of these off shore sportsbooks offer reduced juice betting which means instead of laying -110 on every bet you only have to lay as little as -105 on sides. We consider these 2 be the best places to sports bet at this season.
Offshore Sportsbooks Ratings
If you would like to keep researching different offshore sportsbook check out the sportsbooks review page for a list of all the books we personally wager at daily.
Top 10 Online Sportsbooks
Like we mentioned earlier we make our living betting on sports and if you are looking for winners against the point spread we offer our premium picks for a small fee. Consider it a investment as after the first week you should be playing with the houses money. To view what is on tap for today check out today's sports picks page. Feel free to email us with any questions or comments you have about any offshore sportsbook and we can help advise as to whether or not they are a solid operation.