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Bitcoin Means Smooth Sailing For Offshore Sports Betting Sites

Published

5 years ago

November 4, 2019

Local sports betting venues and kiosks are commonplace in much of the world, with several international regions also coming onboard in embracing the pastime.

That said, no sports wagering market is growing more quickly than that in the US, as nearly 20 states have legalized the activity since the Supreme Court overturn of the Professional and Amateur Sports Protection Act (PASPA, 1992) in mid-2018.

In fact, according to CNBC, more than half of Americans live in states that will offer regulated sports betting within the next year or two.

However, even as locally regulated betting shops and domestically operated Internet sportsbooks come online, the options provided for by offshore betting sites remain superior for most bettors in most areas.

The reason for this is simple: Bitcoin support.

No domestic sportsbook in the US or any other country currently accepts Bitcoin (BTC) as a banking option, meaning that you cannot deposit or withdraw with the popular cryptocurrency at these venues.

For many bettors and punters, that’s a deal breaker, as Bitcoin is fast becoming a major industry unto itself, threatening to eclipse many online payment platforms the world over.

To be certain, Bitcoin and other cryptocurrency (aka altcoin) support is not the only reason to use offshore betting sites instead of local domestic options. However, it’s arguably the most compelling reason, and it remains so for both the US and international markets.

Benefits of Bitcoin

There are several overarching reasons to use Bitcoin when patronizing an offshore sports betting service, which is why so many people are turning to the revolutionary non-fiat currency alternative.

While some of BTC’s selling points may not appeal to or seem mission critical for all users, the aggregate of features on offer demonstrate how Bitcoin remains in a class of its own re electronic financial transactions.

No transaction fees – When you use BTC to deposit or withdraw at offshore betting sites, there are no added transaction fees. The only transfer surcharges you will ever pay with Bitcoin are those natively assigned by the cryptocurrency itself, and these usually amount to pennies at most.
Next-level security – Bitcoin offers the best data security measures of any financial product – or any electronic product – in the world. Bitcoin is said to be quantum hacking resistant, and the open ledger blockchain technology originated by BTC is the gold standard in encryption and fraud prevention.
Greater anonymity – Bitcoin is not fully anonymous, but it offers greater anonymity than any banking product on the market. Bitcoin uses numerical wallet addresses – not identities – to send and receive money, and online gamblers value their privacy to a high degree. The old saying is “The Internet is forever.” With BTC, privacy is paramount.
Accepted worldwide – Bitcoin is accepted worldwide, and it can be sent person-to-person, person-to-business, business-to-person, or business-to-business quickly and easily. There are no banks to hold up your transfers and make you wait days when you want to bet on tonight’s game or match, and there are no watchdogs sniffing around to delay or intercept your private BTC transfers.
Larger deposit bonuses (US, CAN only) – For US and Canadian sports bettors, Bitcoin deposits come with the online betting industry’s biggest promotions. While those in other countries cannot take advantage of these at this time, they’re still a huge bonus (literally!) for eligible bettors.
Same-day withdrawals – Bitcoin is the only way to receive same-day withdrawals from major online betting sites. Other payouts, regardless of the type (bank wire, money order, courier check, etc.) will all take at least 3-5 days, but Bitcoin withdrawals will typically show up in your wallet within an hour or two.

Despite its efficacy for online gambling and sports betting, Bitcoin isn’t going to be right for everyone, and many bettors who are used to dealing with fiat money or traditional credit/debit banking are trepidatious to get into a new form of technical currency.

That said, the main issue holding bettors back from embracing BTC is the initial buy-in process. In most markets, including the US, new Bitcoin users have to go through a lengthy acquisition process that can take up to 10 days.

Fortunately, there is a workaround for this.

In the US, new users can get Bitcoin in just a few minutes by using the Zelle-to-Bitcoin process. Zelle is a product of the US banking industry, and most bank account holders already have access to Zelle. Via this instant transfer system, would-be crypto bettors can use Zelle to purchase BTC at a private exchange called LocalBitcoins.com.

This reduces the initial buy-in from days to minutes, and LocalBitcoins does business in more than 200 countries around the world. This gives international punters the same fast way to get their hands on BTC and transfer it to their betting sites of choice.

How To Buy Bitcoin At LocalBitcoins

The steps to purchase BTC quickly and easily at LocalBitcoins follow, showing the process for American bettors. However, regardless of the country you’re in, the main procedure will be largely the same. (Some US-centric books will walk their customers through the Zelle-to-BTC process from their cashier/deposit pages.)

Create a free account at a reputable offshore sportsbook.
Create a free account at LocalBitcoins.com.
Use Zelle (US bettors) or another instant transfer product (International bettors) to purchase BTC from a private seller on LocalBitcoins.
Use the Bitcoin to deposit into your sports betting account.
Place your bets!

Note: LocalBitcoins, though powered by private buyers and sellers, is very safe to use. The site uses an escrow system to hold any BTC after a sale is agreed to, giving the seller zero opportunity to abscond with your funds.

When regulated, US-based sports betting first became a wide-scale reality in 2018, there was much talk of offshore sportsbooks eventually being hampered by the legislation and the move toward domestic bookmakers.

But this hasn’t been the case, and membership is up across the board at offshore books in the roughly 18 months since PASPA was eliminated. Even in countries that have had domestic books in operation for years, offshore sites thrive.

And Bitcoin remains the biggest reason why.

Related Topics:Bitcoin offshore gambling Zelle

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Conway’s Revo Casino and Social House Prepares To Open

Published

5 days ago

January 17, 2025

Offshorebettingsites.net

Dick Anagnost, one of the owners of the new Revo Casino and Social House in Conway, New Hampshire, told the media that the casino is expected to open February 1st, 2025. Anagnost also stated that more than 70 employment positions are already filled, and two local charities (Mount Washington Valley Promotions and the North Conway Community Center) are already poised to benefit.

The new charitable gaming casino is in Shurfine Plaza, which also houses the New Hampshire liquor store. Revo will move into the suite that used to be a grocery store. The new facility will be 11,800 square feet and include a bar, a restaurant, multiple table game options, and electronic gaming machines offering slots, video poker, and more.

Before the new casino can open, the building has to undergo a plumbing, electrical, health/safety building, and a Liquor Commission inspection. Anagnost said, “If we pass all of that, our (certificates of occupancy) would probably be issued Jan. 28 or 29, and probably 48-72 hours after that, we’d be open for business.” He also stated that a soft opening could possibly occur before February 1st.

On opening day, the casino will feature 75 gaming machines and table games, including blackjack, roulette, and poker. An adjacent smoking room with some gaming machines will allow patrons to smoke and enjoy gambling while the main casino floor remains smoke-free.

Anagost also stated that the casino has had more than 200 applicants and that the local community has supported the project, “I don’t think anyone in any of the casinos we’ve opened across the state has received so much attention.”

New Hampshire Casinos

New Hampshire currently has no commercial casinos but has 14 charitable casinos where a portion of the profits go to local charities. These casinos are no different from what you would find anywhere else in the USA except for how the revenue is disbursed.

Current NH gambling laws mandate that 35% of casino game profits go to charity, while another 10% goes to the New Hampshire Lottery for the state’s educational fund. This system has proved beneficial to the state’s bottom line, helping fund educational programs across the state.

However, while online casino options are limited to offshore sites, both in-person and online sports betting have been legal in the state since 2019. Sports betting in the state must also give 51% of online revenue and 50% of in-person revenue to the state.

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Virginia General Assembly Considers Tysons Casino Proposal

Published

2 weeks ago

January 10, 2025

Offshorebettingsites.net

The Virginia General Assembly is currently deliberating a proposal to establish a resort-style casino in Tysons, Fairfax County. Introduced by Senate Majority Leader Scott Surovell, the bill aims to create an entertainment district with a casino, hotels, a convention center, and performing arts venues.

While labor unions support the casino, this initiative has sparked a robust debate among lawmakers, community members, and industry stakeholders.

Senate Bill 982, introduced by Senator Surovell, seeks to amend existing legislation to designate Fairfax County as an eligible host locality for casino gaming. The bill outlines specific criteria for the proposed location within the county and mandates a local referendum to secure voter approval before any casino development can proceed.

Potential Revenue

Proponents of the Tysons casino project highlight significant economic benefits. Senator Surovell points out that Virginians contribute approximately $300 million in annual tax revenue to Maryland by patronizing MGM National Harbor. By establishing a casino in Tysons, these funds could be redirected to support Virginia’s public services, including education and infrastructure.

Opponents’ Concerns

Conversely, some community members and organizations have raised objections. The McLean Citizens Association, for instance, has mobilized opposition, citing concerns about introducing gambling into the community.

Additionally, a group of former national security and intelligence professionals cautions that the casino’s proximity to sensitive government facilities could pose security risks, potentially making personnel with security clearances vulnerable to exploitation.

Virginia Gambling Laws

Virginia has three casino locations and several slot parlors. Offshore casinos can also accept VA players, as no state gambling laws forbid their use.

Domestic casinos were first launched in 2022, when the temporary Hard Rock Bristol opened its doors. The state allows commercial gaming facilities to accept players over the age of 21 and offer class III table games (blackjack, slots, baccarat, roulette, etc.).

Regulatory and Approval Process

For the casino project to materialize in Fairfax County, the following steps must be completed:

Legislative Approval: The General Assembly must pass Senate Bill 982 to authorize Fairfax County as a potential casino host.
Local Referendum: Upon legislative approval, the Fairfax County Board of Supervisors would be empowered to hold a referendum, allowing residents to vote on the casino proposal.
Development Planning: If the referendum passes, detailed plans for the entertainment district will be developed, followed by zoning approvals and construction.

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Salem Approves New Gaming Facility Despite Concerns From Neighboring Communities

Published

1 month ago

December 18, 2024

Offshorebettingsites.net

Salem, New Hampshire, recently approved a new “charitable” gaming facility despite concerns from the neighboring community of Lawrence, Massachusetts.

Located just over the New Hampshire state line, the city of Lawrence is the poorest in the state, and community leaders fear that a new casino-style gaming facility could lead to addiction and further poverty. Despite the concerns and the city asking Salem to reconsider, the state plans to proceed with the project.

On November 26th, the Salem Planning Board voted 5-2 to approve the project slated for the old Lord & Taylor store at The Mall at Rockingham Park. The casino will offer 1,300+ jobs, multiple restaurants, and event space.

New Hampshire Gambling Laws

The state of New Hampshire does not allow commercial casino gaming; however, it does allow charitable gaming. Charitable gaming in the state consists of blackjack, poker, and roulette. While other casino staples such as slots and baccarat are not allowed, the exception for charitable gaming offers residents entertainment and the state additional revenue.

Despite not having full access to class III casino gaming options, the state has 14 charitable gaming facilities that pay 35% of its gross gaming revenues to local charities. Another 10% of revenue goes to the state to fund educational programs.

Lawrence Officials Speak Out

Stephany Infante, vice president of the Lawrence City Council, is concerned that a new casino just over the state line will target residents of Lawrence. She stated to media sources, “In Lawrence, we’re trying to tackle financial struggle, mental health issues, addiction, et cetera, and this is just going to add another component to those challenges.” She also expressed her concern that “People who are struggling financially, or with gambling, which is an addiction, that’s the clientele any casino targets.”

The Lawrence City Council sent a resolution to the Salem Planning Board claiming that Lawrence residents are a primary target for the new casino. Several Lawrence City residents are concerned that a 10-minute drive to a casino could facilitate further criminal activities tied to money laundering.

Are Online Casinos Legal In New Hampshire?

New Hampshire does not license or authorize online casinos within state lines. Despite the restrictions, offshore casinos have been accepting players from New Hampshire and Massachusetts since the late 1990s and have become the go-to option for many players.

Online casino sites offer players popular casino games such as slots, roulette, baccarat, blackjack, poker, sports betting, and more. They also offer bigger bonuses, traditional and non-traditional casino banking options, and more game variations, which makes it easy to see why many players gamble online.