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However, while the elimination of the federal law which prohibited online sportsbetting means the expansion of state-licensed sportsbetting websites, it does not mean the end for sites hosted by offshore operators. There are several reasons why the offshore betting industry cannot disappear, at least not yet and one of them regards finances that this industry has helped foster. In fact, offshore betting industry is a multi-billion industry and it has been thriving in the states for more than two decades.
The industry is deeply ingrained into this grey market that emerging legal sportsbooks and changing laws and regulations cannot touch it to that point to destroy it completely. While offshore sportsbooks are deemed to lose some of its clientele, while some operators will be forced to shut down their doors to US residents and while some will face more serious legal consequences , the industry will have its spot even though they will be facing serious competition and rivalry from state-licensed, regulated, reputable sportsbooks which are being opened in several states.
Disclaimer: Don't play here AmericaGambles. The information on offshore providers published here is for informational purposes only and is intended to show the negative consequences that the use of these providers can have. We neither recommend nor link these providers in any way. We also have no business connection with these providers. Only with these providers, you can play safely and reliably. Pinnacle Sports is licensed by the jurisdiction of Curacao and Malta and it does not have a license to operate in the United States.
Since it is prohibited to deposit and withdraw to and from offshore sportsbooks, bettors can be prosecuted for such actions. However, there is no record of such actions taken against bettors at offshore sportsbooks.
Many offshore sportsbook operators encourage players to use digital currencies such as Bitcoin, but using them does not offer the best safety measure. Yes, you have to pay taxes on your winnings no matter your chosen sportsbook, either offshore or state-licensed. Conclusion Stay Safe, Choose Wisely. In their online place which is deeply engrained, offshore sportsbooks are thriving as they are always players who prefer offered greater anonymity.
However, this place is like a big black market and without laws and regulations managing their operations, bettors cannot expect to be gaming in safe, reliable and trustworthy gaming environments. In such online places, fair play and transparency cannot be guaranteed nor sensitive data protection and other mandatory features that state-licensed sportsbooks must offer. Therefore, the only way to be protected at all times is to make wise choices and take the right route which leads to legalized, fully-regulated sportsbooks.
Those interested in such operators can check great options listed in our guide on fully-regulated, reputable sportsbooks. Find the best Sportsbook. Football is back, which provides us with some live sport to get into. Can the Chiefs follow up on last season? Michael Tradford.
This author was thoroughly tested and approved by the experts at AmericaGambles. Author Bio:. Michael was Marketing Director in Atlantic City and worked in the casino industry for several years before shifting over to numerous newspapers in New York and Chicago working his way up to Editor-in-Chief. His focus areas are mainly in the fields of sports, gambling, and politics.
Does Pinnacle Sports hold a license to legally operate in the United States? I am liable to prosecution if I register and play at Pinnacle Sports? I am safe when playing with Bitcoin? Are the bonuses and promotions offered at Pinnacle Sports better than what its legal rivals offer? Do I have to pay taxes on my Pinnacle Sports winnings? Sports Betting Comparison Make your Choice! Select your state. Select your state to find the best operator for you personally.
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