Offshore casinos have been serving the gaming industry for many years. These sites operate in markets without government regulation. Popular online casinos like Bovada and Super Slots fall into this category.
Some people consider offshore casinos to be flat-out illegal. After all, these gambling sites haven’t received approval from the jurisdictions that they serve. But they are licensed in the places they’re operating from.
However, the issue is more complicated than simply labeling these casinos as illegal—especially because they do have licensing. The following post discusses more about offshore gaming sites and whether they’re unlawful or legally acceptable. Characteristics of an Offshore Casino
Before determining the legality of offshore casinos, it’s important to look at their traits. The following characteristics define the typical unregulated gaming site. Based in a Lax Licensing Jurisdiction
While offshore casinos don’t obtain licensing in the state or country that they serve, they do get licensing wherever they operate from. After all, every online casino needs a safe haven to put their home base.
These gaming sites look for lax licensing jurisdictions, such as Belize, Costa Rica, or Curacao. Costa Rica, for example, doesn’t require casinos to go through a gaming application process. Instead, operators simply need to obtain a regular business license.
While such jurisdictions aren’t prestigious, they usually have low fees and laid-back standards. Most notably, they don’t put many restrictions on where their licensees can operate. Serves Unregulated Markets
More and more states and nations are legalizing online gaming. As a result, more regulated markets exist now than at any other point in time.
Even still, many countries have yet to take a stance on online gambling. These are exactly the markets that offshore casinos target.Unregulated casinos don’t feel that they’re breaking the law when serving a gray market. They’ll continue providing online casino games to states like California, Minnesota, and Ohio until the state governments provide a clearly-defined stance on mobile gaming . Accepts Bitcoin and Other Cryptocurrencies Based on laws that I’ll cover later, offshore casinos have trouble finding payment processors. They get around this issue by relying on Bitcoin and other cryptocurrencies.Bitcoin is a […]
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