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Opinions on what will happen to offshore sportsbooks if sports betting is legalized?

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Posted: #1
Thinking about this kind of has me tweaking about the possibility of my funds being frozen. I don't have some crazy amount in there, but i'm thinking of withdrawing 2/3's just to be safe right now just in case. Curious what everyone else thinks about their offshore accounts?

(just save it if you're thinking of saying just use a local)
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Posted: #2

They’ll become AT&T call centers

 
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Posted: #3

what a hassle to go to a sports book and pay over the counter?confused Everything is right here in my own house. 

Wouldn't change anything for me. Offshores would counter by paying faster at many more locations in the U.S.

 
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Posted: #4
Search, I hope you’re right. I don’t want to switch my book and I sure as hell don’t want to have to pay whatever tax Illinois has in store if they decide to go that route. Their medical marijuana is absolutely ridiculous, too. Anything these pieces of sheet get their hands on they strangle to death with taxes... even plastic bags for groceries in Chicago. I would think heritage would be able to manage
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Posted: #5

Quote Originally Posted by OlDirtyBaztid:

Posted: 4 hours ago "Quote" Search, I hope you’re right. I don’t want to switch my book and I sure as hell don’t want to have to pay whatever tax Illinois has in store if they decide to go that route. Their medical marijuana is absolutely ridiculous, too. Anything these pieces of sheet get their hands on they strangle to death with taxes... even plastic bags for groceries in Chicago. I would think heritage would be able to manage

 

Try it here in California. There's a tax on EVERYTHING. Next there will be a breathing tax. 

Sales tax sky high, gas tax, bag tax, state income tax,. unreal.

 
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Posted: #6

Quote Originally Posted by zebrakiller:

Posted: an hour ago "Quote" The offshores will not get better they will still fug you over on some wacko pro0p wagers that you thought you won but then grade it as a loss.

 

This happened in Vegas too.

 

 
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Posted: #7
Quote Originally Posted by zebrakiller:

The offshores will not get better they will still fug you over on some wacko pro0p wagers that you thought you won but then grade it as a loss.

THEY will not pay out faster and you pay huge fees to get money sent to you by money gram omfg like they do not acceot WU anymore

why? Peoples bank accounts frozen for suspect of fraud

fugggggggggggggggggggg the offshores they all are scammy now




calm down, zebra. lol. it'll be alright. the plus side is i don't play props so that won't be anything to worry about. i'm fine with the way heritage pays out because they are thorough and trusted. i would be 100% okay if NOTHING changed. do you have a little more substance behind you reasoning or is this just a personal opinion at this point?
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Posted: #8
I keep some $ parked off-shore(betdsi) even though most of my stuff is with an excellent local. Sports are legal in Canada,UK,and Netherlands but off-shores serve them and I think if you like your off-shore and they served you well they might be a little more accomodating rather then restrictive. I just think that these new state books will be thinking of this deal as a Taxing oppertunity rather then a competitive marketplace for betting $ so you will see 4 team parlays pay 8-1 and straight bets -125. The NBA is already looking for their bite even though Vegas hasn't paid a penny ever.An example is Canada which has awful odds/vig with their national sports betting.
I've heard poor things about Heritage but it would seem to be counter-intuitive marketing to punish the customer if presented with a choice.

 
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Posted: #9
Quote Originally Posted by 666LES:

I keep some $ parked off-shore(betdsi) even though most of my stuff is with an excellent local. Sports are legal in Canada,UK,and Netherlands but off-shores serve them and I think if you like your off-shore and they served you well they might be a little more accomodating rather then restrictive. I just think that these new state books will be thinking of this deal as a Taxing oppertunity rather then a competitive marketplace for betting $ so you will see 4 team parlays pay 8-1 and straight bets -125. The NBA is already looking for their bite even though Vegas hasn't paid a penny ever.An example is Canada which has awful odds/vig with their national sports betting.
I've heard poor things about Heritage but it would seem to be counter-intuitive marketing to punish the customer if presented with a choice.

that's very odd. i have always thought very highly of heritage. however, and i am not saying this out of spite because you mentioned heritage or being childish, i have recently heard HORRIBLE things about dsi and they are the reason i made this post. not even kidding. a few other forums are reporting they have people's accounts frozen with larger account sizes. they have just been downgraded because of non-responsive complaints from an A to a D- from SBR. there's a lot of very angry people posting about them and they think it has to do with the US legalizing sportsbooks.
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Posted: #10
 If it's legalized country-wide then hopefully I could go back to Pinnacle.........& if not, I hope there's enough competition around town to avoid the predictable high juice. There are 3-4 Indian casinos within an hour of me right now, & they're already competing for not only the locals north of Seattle, but also the traffic from Vancouver, BC. They're tax exempt on many things.
 
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Posted: #11
Quote Originally Posted by OlDirtyBaztid:

that's very odd. i have always thought very highly of heritage. however, and i am not saying this out of spite because you mentioned heritage or being childish, i have recently heard HORRIBLE things about dsi and they are the reason i made this post. not even kidding. a few other forums are reporting they have people's accounts frozen with larger account sizes. they have just been downgraded because of non-responsive complaints from an A to a D- from SBR. there's a lot of very angry people posting about them and they think it has to do with the US legalizing sportsbooks.
  betdsi split from Bookmaker and seems to be lesser for it and I doubt it has anything to do with US legal books.
When I was living in Las Vegas I heard about a very good bettor who was having trouble getting down in Town so he opened an account with Heritage.He bet large and often and won a large %,when he tried to withdraw he was told that they thought he was a "professional" and he can whistle if he wanted his $. Heritage buried the account and Who you Going to Call? End of Story.
 
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Posted: #12
Quote Originally Posted by 666LES:

  betdsi split from Bookmaker and seems to be lesser for it and I doubt it has anything to do with US legal books.
When I was living in Las Vegas I heard about a very good bettor who was having trouble getting down in Town so he opened an account with Heritage.He bet large and often and won a large %,when he tried to withdraw he was told that they thought he was a "professional" and he can whistle if he wanted his $. Heritage buried the account and Who you Going to Call? End of Story.
interesting. i don't beat nearly large enough to be considered syndicate or professional by any means. i make a few k every here and there, enjoy the games and the rush so i don't think that will be a problem for me wherever i go. i do need to find a reliable local in chicago, however. my last one got derailed on LIVE action and shut it down so i went to offshores. it would be nice to have a new one but i haven't really tried that hard to find one
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Posted: #13
80% of my betting is team totals.  I hear those are hard got find in brick and mortar books.  Also,  it's hard enough to profit laying -110,  now with states taking a cut -125 will be the new norm.  Offshore will still offer best prices and odds
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Posted: #14
Quote Originally Posted by searchwarrant:

 

Try it here in California. There's a tax on EVERYTHING. Next there will be a breathing tax. 

Sales tax sky high, gas tax, bag tax, state income tax,. unreal.



Search you just triggered me

Last election cycle the "people" voted in an increase in sales tax because the city was broke basically threatening the citizens with less police and fire coverage. Before that LA county voted in a sales tax increase for the homeless which they have done absolutely nothing for.

Of course there is Brown's 12 cent gas tax increase that was shoved down our throats, but realistically the idiots would have voted it in anyway if given the chance.

Every f'n cycle there is a new school bond and it passes every time. When does this sh!t stop. How about better fiscal management and cut some of those top heavy jobs that don't do anything.

I have a friend that is barely scraping by but votes for this bs every year then complains when her rent utilities or grocery bills increase. I explained to her the correlation and a went off.

Voting day has become a new holiday for me, state Disappointment Day.

All these idiotic CA voters are standing on my lawn.


 
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Posted: #15
Quote Originally Posted by Natty68:

80% of my betting is team totals.  I hear those are hard got find in brick and mortar books.  Also,  it's hard enough to profit laying -110,  now with states taking a cut -125 will be the new norm.  Offshore will still offer best prices and odds
but will you trust them is the question? i'm afraid they're going to have such a low customer base that they could just freeze accounts and take off
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Posted: #16
Quote Originally Posted by Nut_Flopper:



Search you just triggered me

Last election cycle the "people" voted in an increase in sales tax because the city was broke basically threatening the citizens with less police and fire coverage. Before that LA county voted in a sales tax increase for the homeless which they have done absolutely nothing for.

Of course there is Brown's 12 cent gas tax increase that was shoved down our throats, but realistically the idiots would have voted it in anyway if given the chance.

Every f'n cycle there is a new school bond and it passes every time. When does this sh!t stop. How about better fiscal management and cut some of those top heavy jobs that don't do anything.

I have a friend that is barely scraping by but votes for this bs every year then complains when her rent utilities or grocery bills increase. I explained to her the correlation and a went off.

Voting day has become a new holiday for me, state Disappointment Day.

All these idiotic CA voters are standing on my lawn.


tell your friend to come to chicago. she could keep voting the way she is, NOT have to pay taxes or have any type of financial responsibilities and live off the general population without a care in the world... just as long as she kept voting the way she is now
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Posted: #17
Quote Originally Posted by searchwarrant:

 

Try it here in California. There's a tax on EVERYTHING. Next there will be a breathing tax. 

Sales tax sky high, gas tax, bag tax, state income tax,. unreal.


why do u bother living there? get out while u can
 
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Posted: #18

Taxes in the US - federal and state - the 800LB gorilla in the room is the defense spending - it's an astronomical amt compared to all of the other countries in the world. I guess it's our responsibility to police the world and fight and pay wars in the middle east. Doesn't make sense to me. If we cut military spending that money could go to state and other areas that need help and lower overall taxes  - yes overhauling and trimming down government would be great too.

The pen is mightier than the pigs
 
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Posted: #19
It’s going to kill most of them off.  The law that just got struck down was the primary boon to their business.  









The scammy ones wil no doubt go belly up.  The legit ones will have to work doubly hard to provide a valuable service.

Keep in mind, this decision now makes it legal to operate an online sportsbook on US soil.

First up will be Tribal Casinos.  I expect US based books similar to Sports Interaction to be up and running within 30 days.

The great thing about that is bettors will gain leverage in legal recourse if a book suddenly refuses to pay out.  

No more waiting forever to get a foreign check that may or may not clear when you finally get it.

But remember, it will also create a paper trail and a 1099-G for reporting your income.

Gonna have to start paying taxes on your winnings if you weren’t already.
 
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Posted: #20
Legalized gambling is progress toward joining other civilized countries.  It would increase competition and freedom for gamblers.  Depending on what the government allows, gamblers may choose either foreign sportbooks or spend locally which helps keeps money in own country.

In Canada, many gamblers still bet online at foreign sportbooks because of better odds and selection.  Advantages of  regulated gambling include more revenue for government and easier access because every store can be licensed to offer gambling.  Disadvantages include  bad selections such as parlays only and increased competition which cause casinos and racetracks to lose customers.
 
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Posted: #21

Just when I thought I was out... They pull me back in.

 
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Posted: #22

Cant wait an_clap, Don't know about the Tax BS , but if its like Vegas thumbs_up. I rather drive to the Pechanga Win or lose , Win get you're money and leave . Win overseas they still have you're money and we all know what happens next...I"ve seen on Slots at Indian Casinos " Jack pot paid over 27 years" ....so who knows what rules in Sports betting...

 
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Posted: #23
Quote Originally Posted by docpj72:

peace_5this-up in Canada-maybe this will open government's eyes and actually try to offer competitive odds rather than the trash ones that they offer now-otherwise I am sticking with bet365...governments though by greed will likely manage to f-ck this one up!

i would love to have bet 365. no doubt i will first go to them, william hill or pinnacle before i give my money to illinois. they are blind robbery with EVERYTHING htey get their hands on. no one buys weed from their medicinal shops because it's significantly cheaper on the streets. they love screwing up anything that is supposed to be good and make it destined for failure. 
back to sports, what irritates me most is that the leagues want their "integrity fee". they haven't ever gotten paid from vegas and all of a sudden now there's a cut. for what? there's still going to be sports with or without it. they haven't done anything to deserve it and to be honest, they get enough money with their overpriced memorabilia, overpriced tickets, and overpriced concessions
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Posted: #24

Change everything I said. After dealing with Heritage on a payout issue I'm certain they'll be buried once along with other offshores when this happens. These people scheme and strategize to keep you from your money. 

Don't care about the juice or taxes either. 

 
 
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Posted: #25

The offshore sites will still have some bettors but the ones that are underfunded will be history. The way things will work in NJ I believe will be that any of the online casinos that are legal in NJ now will be able to add a sports betting area on their current sites. Betfair, Golden Nugget online casinos etc will just add button to their sites for sports betting odds. All Betfair would have to do is use the same software that they use for their England and international bettors now. Also, Betfair allows betting in exchange bets on their international site which I thing could be legal in NJ because of the exchange betting they allow on horse racing now in the state. Lots of questions but hopefully all will be worked out in time for football season!

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