There is a lot of buzz in the United States about whether or not it is okay for an unlicensed sportsbook to operate on US soil. Unlicensed means they don’t have to be licensed by the state to do business, and they can offer sports betting without a licensed sportsbook.
So, why are there unlicensed sportsbooks?
One reason is that they can make a bit more money by being out of state. The amount of cash that an unlicensed sportsbook can make depends on the state where they are located, but they tend to make more money than licensed sportsbooks.
The other reason is that they can take advantage of people who are new to online sportsbook gambling. They lure people in with their low-cost services and make bet things that beginners don’t understand. They won’t know it, but their ignorance could cost them big time.
The dilemma with unlicensed sportsbooks is that the government can shut them down if something isn’t right with them. There are regulations in place that address the issue of illegal gambling, such as the Wire Act. The government can shut down an unlicensed sportsbook because they violated the law, which violates the US government and all United States citizens.
Sportsbooks have taken place throughout the years in every major city. They are extremely popular for providing a reliable service for many residents. It’s a service that most residents utilize every day. With that being said, some cities attempt to limit how much money online sportsbooks can make from the residents. It is a legitimate concern, especially considering a large number of online sportsbooks in operation worldwide. Many residents are forced to use their credit cards to deposit to keep the online sportsbooks open.
As assistance, the notorious online soccer betting Singapore company, 88Probett, created an infographic with all the helpful ways to spot and avoid unlicensed sports betting sites: