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The Risks of an Offshore Sportsbook


If you have a passion for sports and the chance to place wagers, there are a variety of ways to do so with a sportsbook. From betting on the final score of a game to predicting a player’s future success, a sportsbook offers a variety of wagering options. It’s also possible to place a bet on a specific individual player or event, known as a prop. Another type of wager is a future bet, which is a wager on possible championship results.

Legality of offshore sportsbooks

While offshore sportsbooks are not illegal in most states, they face some serious risks. One of the biggest is the risk of federal prosecution. Federal prosecutors have long pursued illegal sportsbooks and have brought several convictions. For example, the former CEO of World Sports Exchange was found guilty of money laundering and running an illegal sportsbook. In all, the DOJ has prosecuted 57 individuals for illegal gambling.

Another issue is taxation. In order to regulate legal sports betting, states must tax sportsbooks. States are creating legislation to generate as much tax revenue as possible. States must find a sweet spot in their taxation that allows sportsbook operators to make a profit, attract new customers, and retain current customers.