“Offshore” is the common term used in the online casino gaming industry and is found in most reviews on casino websites. Is there a difference between offshore casino websites and regular ones? Is there a reason for licensing all these offshore casinos? Let’s talk about the first.
An offshore casino site regarding online casinos is defined as an online casino website that operates in a country different from yours. For most casino operators, they prefer to operate their websites in countries that have mild regulations on casino operations.
Most of these casinos are usually the top-rated ones you will find in the webspace, and you have no choice but to play from your region. If you love playing online casino games, but your country has heavy regulations against the practice, then playing on these offshore sites is your best bet.
Before playing on any online casino website, ensure you research the regulations available in your country. Some countries also frown at physical casinos, and it is not usually a one-philosophy-fits-all. Also, find out if your country frowns at online casino gaming and make a wise choice regarding offshore casinos.
Now you know what the term means, but how safe is it to play on these platforms? Well, it is no less legitimate than regular online casinos - the risks attached are also not less minimal. Every offshore online casino has to be audited, licensed, regulated, and must adhere strictly to the available laws and regulations.
It needs to follow due process to be endorsed by betting review sites, and also provide its services to the international community. In the countries where they operate, offshore casinos must go through the guidelines and meet specific requirements to remain operational. Some regulatory bodies for offshore online casinos include United Kingdom Gambling Commission and Malta Gaming Authority.
Every offshore online casino is proud to display their license on their website – anything asides from this discredit the casino. They display their ‘Seal of approval’ on their homepage (the base), alongside several other essential license certificates. Doing this gives players some form of assurance and confidence that they can place bets on these sites. After seeing such validations, players can then place bets and play the best slots, blackjack, poker, roulettes, and much more. Since these offshore casinos are passed through serious scrutiny to maintain their license, the top-rated ones are safe to visit.
One risk that stands out for most illegal offshore gambling sites is that they shut down and take your money with them. There are lots of people who have been victims of this and there is a high tendency that it will repeat itself.
Below are examples of the most common issues most offshore gamblers face with these sites.
Most US Banks and financial networks cannot intentionally transact with offshore gambling sites due to the UIGEA. These sites will then proceed to take on illegal transactions, resulting in an unending game of predator and prey. In the process, these sites will therefore try to obtain credit card payments desperately.
These payments with credit cards will initially be successful at the detriment of the offshore sites, and they pass it on to players in different forms. Here is the disadvantage, you may never get to know the period when your credit card payment will get through. Have you tried to imagine missing out on a good bet because your offshore gambling site couldn’t accept your deposit? Well, there are other alternatives, such as Cryptocurrency. For many, using crypto could be a limitation due to the numerous processes needed to establish a wallet.
When you begin to experience a delay in withdrawal, or maybe you’ve heard that others are having such issues, be proactive. Make sure you take out all your bankroll completely. Never deposit at an offshore site that has a history of late payments, or you are at risk of a scam.
For some unclear reasons, some of these unlicensed sites tend to void bonuses. Every offshore site has a right to be shielded against bonus abuse. When you begin to notice that they start to include promos and outrageous bonuses that have already been taken in good faith, it is a sign of faulty management. It will be risky to continue with such a site as you could be defrauded.
It is to your disadvantage to make $1,000 your minimum withdrawal, especially if you stake little amounts per game. Most legal sites would let you make monthly withdrawals with zero cost, and other sites (e.g., illegal offshore gambling sites) won't. When next you see those 'shady' fifty-dollar withdrawal fees, run for your life as they are there to milk you dry.