How Gamblers Get Enticed by Overseas Bookies & The Dangers They Face

The US gambling industry has experienced a spike in online sports betting over the past few years. From revenue of half a billion dollars in 2018 to a projected $15.75 billion in 2028, sports betting has absolutely exploded in popularity. 

However, this growth may be explained by the loosening of restrictions on online betting in the US. In May 2018, the Supreme Court ruled in favor of individual states being able to legalize online sportsbooks. It is no coincidence that this timeline (2018-2024) coincides with an almost $10 billion growth in online gambling revenue. 

However, this isn’t to say that online sports betting is a recent phenomenon. Due to the minefield that was the legality surrounding online bookmakers over the past number of decades, sports fans found ways to bypass these restrictions. This was confirmed by NBA Commissioner Adam Silver back in 2014 when he stated that almost $400 billion went to the underground sports betting market. Clearly, sports fans had discovered ways of placing bets online. 

However, was the lure of offshore gambling simply down to necessity?

The Lures of Offshore Gambling Sites

Before the Supreme Court’s ruling in May 2018, it may be suggested that the lure of offshore gambling sites was born out of necessity over everything else. However, there are a lot of factors that underscore the lure of offshore sportsbooks regardless of legality issues or not. 

According to the washingtoncitypaper.com, offshore sportsbooks have always had a competitive advantage over their regulated competitors as they can evade regulatory compliance costs. This allows them to offer better odds or more favorable betting lines compared to domestic sites, which can potentially result in higher payouts for successful bets. 

Similarly, and also thanks to lower operating costs, offshore sportsbooks can offer more attractive bonuses and promotions to new and returning customers including sign-up bonuses, deposit bonuses, free bets, etc.

Furthermore, while betting on the NFL, or American football in general, trumps all other sports when it comes to sports betting in the US, some players enjoy placing wagers on niche sports that may not be provided at domestic sportsbooks. The best offshore sportsbooks, as listed here, fill this void and often offer a broader range of sports and betting markets.

Finally, gamblers love to have anonymity while betting on sports. They do this to avoid dodgy transactions appearing on financial statements. Due to regulations, domestic sports betting sites are required to verify a player’s identity and look for personal identification. Again, offshore sites have the privilege of bypassing these laws, allowing players to sign up without providing any personal information. 

While this is all very well for online casino bonus hunters and players looking to keep their gambling habits a secret, the potential risks associated with offshore gambling sites have become as dangerous as shark-infested waters. 

Shark-infested Shores

Unlicensed gambling websites operate outside regulatory frameworks designed to safeguard players, particularly those vulnerable to problem gambling. Online gambling offers distinct characteristics that can worsen or initiate problematic gambling habits, such as convenient availability, engaging visuals, and the utilization of credit and diverse payment options. Hence, legal online gambling platforms are mandated to incorporate responsible gambling measures in compliance with industry standards. Such measures may include links to gambling disorder support services, self-assessment tools, self-exclusion options, and betting limits.

Numerous studies have shown that users of overseas betting sites tend to experience more severe gambling disorders and related harms compared to those using domestic platforms. Offshore gambling sites often lack robust, responsible gambling mechanisms due to their ability to evade regulatory oversight imposed by state authorities.

Some unscrupulous sites even target individuals with gambling problems. These types of sites have become known as rogue casinos.

For instance, reports have surfaced indicating that Google search results for Gamstop, a UK-based self-exclusion service for gambling addicts, include advertisements for rogue gambling sites. Some of these sites explicitly market themselves as not being blocked by Gamstop, thereby circumventing measures designed to shield vulnerable individuals from gambling-related content. Such practices undermine regulatory efforts aimed at curbing gambling addiction.

Furthermore, unregulated gambling platforms typically lack comprehensive consumer protections and formal dispute resolution mechanisms, heightening the risk of consumer exploitation. These sites engage in predatory practices such as withholding deposits, delaying payouts, providing inadequate customer support, and imposing terms and conditions to prevent players from withdrawing winnings. 

A study conducted in 2009 identified 23 counterfeit sites that mimicked legitimate gambling platforms to deceive unsuspecting players into depositing funds. Despite being victimized, players often feel powerless to take legal action due to the illicit nature of their online gambling activities.

Curbing the Rise of Illicit Gambling Sites

The hesitancy to make online sports betting legal in US states may have led to the rise of offshore sportsbooks, which in turn have subjected US sports gamblers to harmful gambling measures. 

While offshore casinos will continue to attract players in search of attractive bonuses and the best odds, a gambling regulatory body must ensure the protection of betting enthusiasts. It can do this by increasing the appeal of domestic online sportsbooks and casinos so players will remain at regulated betting sites and not put themselves in danger of playing at rogue ones.