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HWA

Joined: 01/05/2001 Posts: 5542
Likes: 1601


BetOnline is offshore/Panama. All the Books I mentioned are Virginia.


If you're in an American state with legal sports-betting apps, there isn't much reason to play Offshore anymore. There is more regulation/safety with the American Books, and most of the American Books are offering nice sign-up deals.

But if you absolutely need/want to play Offshore, then BetOnline is one of the better options. They've been around for 20+ years.

One of the big differences between USA & Offshore Books --- when you get a bonus/promotion from the USA Books, you usually only need to play that amount 1x (1x Rollover). In the Offshore world, Rollovers are often 12x, 15x, etc.

You'll see lots of people say "But if I play Offshore, I don't need to pay any taxes!"

Ummmmmmmmmm:

1) What you report is up to you. But you're supposed to pay/report on all Gambling income, even if you win $7.83.
2) If you lose on the year, your tax-liability is zero. So it wouldn't matter if you play USA, or Offshore.
3) If you win big (USA or Offshore), eventually you'll need to get that money in your Bank Account. So the paper-trail is still there, regardless if you play @ DraftKings, or some Book in Panama.
3)

(In response to this post by RTFC)

Posted: 03/15/2022 at 11:33AM



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