Key Points
– Offshore sportsbooks offer bettors numerous advantages over the newest players in the market.
– Bettors can avoid the tax man and keep all of their transactions private when using an offshore sportsbook.
Offshore Sportsbook Advantages
Long before every commercial, billboard, and direct mail piece in your mailbox was for a sportsbook, bettors went offshore for their action.
It’s no secret the sports betting industry has grown by leaps and bounds due to legal changes in the U.S. Roughly 30 states now have some form of legal sports betting. That’s why we see so many ads for sportsbooks. Did you see our sportsbook reviews?
It all started offshore though and using offshore sportsbooks has some advantages and benefits that bettors will not find anywhere else.
SPORTS BETTING STRATEGY > BETTING AGAINST THE PUBLIC
The Betting Board
Looking for action on European soccer? Pro hockey in Finland? Maybe you’re just looking for certain player prop bets on MLB, NBA, or NHL games.
Offshore sportsbooks offer bettors more choices. The betting boards are larger. In addition to the traditional bets like moneylines, spreads, and totals; offshore books will provide bettors with a long list of player props, team props, and specials that bettors won’t find anywhere else.
The betting options are just one benefit of using an offshore sportsbook. There are more.
Better Lines – Reduced Juice
Offshore sportsbooks have been in business for years. Top oddsmaker have had decades of experience in honing their skills at setting odds and lines for sporting events.
If you want the best lines in the industry for any game, match, or event; you will want to go offshore. Bettors everywhere agree that they find better lines offshore.
Tax Concerns
In the U.S., winning bettors will be provided with tax documentation when they win more than a certain amount. That documentation must be filed with a bettor’s tax return and requires that the bettor pay taxes on gambling winnings.
When you take your business offshore, that doesn’t happen. Won $10,000 last month? Great. Uncle Sam isn’t going to find out about it. Bettors can avoid paying taxes on any of their winnings when they bet with offshore sportsbooks.
Offshore Sportsbook Advantages – Anonymity
In line with avoiding the tax man is the value of anonymity. Bettors that go offshore can remain anonymous. Offshore establishments have a long history of protecting their client’s personal and financial information.
It’s no different than someone opening a bank account in the Cayman Islands or Switzerland. Bettors can do the same and many of them choose to do so using cryptocurrency. All financial transactions in cryptocurrency at an online bookmaker protect the identity of the customer.
Incentives & Bonuses
Since they have had to compete with each other over the years, offshore books have had years to come up with all sorts of incentives and bonuses.
They offer welcome bonuses to entice new customers. They offer reload bonuses, contests, and reward points to keep their existing customers. Where do you think all the new players in the market got their ideas from?
The bottom line is that offshore sportsbooks benefit from less regulation than onshore sportsbooks. That allows offshore books to offer greater advantages and benefits to their users.
How are your NBA postseason bets working for you? Hopefully you read our article 2022 NBA Playoffs – the best ways to bet.
