Explore the intriguing world of offshore betting in Michigan with betting expert, Tim Harrison. As the state opens its doors to international betting platforms, Michigan residents have the chance to engage in this exhilarating activity.
Benefits and Risks of Offshore Betting for Michigan Residents: What You Need to Know
The US is one of the last countries in the global spectrum to legalize online sports betting. Interestingly, the Federal Government is not in charge of how to regulate the paradigm in the country. Instead, it has bestowed the duty on the state governments.
Michigan, an upper Midwestern state in the US legalized online sports betting in 2018, one year after the infamous Supreme Court ruling to strike down PASPA. It opened the door for betting events you can only find at offshore-based sportsbooks to enter the Michigan betting scene.
Offshore gambling is a gray area covered by the mist of risks and benefits. We invited betting expert Tim Harrison to Thumbwind today to better understand the industry. He will take us through everything we want to know about offshore gambling.
Tim Harrison Explains Offshore Gambling to Thumbwind Readers
Generally, “offshore” means “situated at sea some distance from the shore.” But we don’t want the literal translation, do we? In a business scope, offshore means “registered abroad.”
Simply put, offshore gambling is when you bet on an online platform not registered in the US.
Now, you might be wondering whether offshore sportsbooks are legal in Michigan. If you keep tabs on the latest developments in the American iGaming industry, you may know that most states criminalize offshore betting.
The general stereotype is that interested sportsbook operators must apply for a license from the appropriate authority in the state to offer betting services to the residents. Also, the bettors must be physically present within state borders to engage with those services.
The appropriate regulatory authority in Michigan would be the Michigan Gaming Control Board (MGCB). You’d be glad to know that the existing legislation by MGCB doesn’t have any provisions for offshore betting! It means while the activity is not legal on paper, it’s not illegal as well.
How does offshore betting differ from domestic betting options, you ask? According to Tim, there is not much difference. The concept of betting remains the same across the board. But he has been kind enough to highlight some obvious differences between offshore and domestic betting.
- You may not find the American odds format on offshore betting sites, so you may need to learn how to read other formats.
- You will not find local American payment methods like the Play+ card or VIP Preferred eChecks for deposits and withdrawals.
- The MGCB will not license offshore bookmakers. But make sure you’re betting on a platform that can prove a valid license.
- The minimum age to register a betting account will be different at offshore bookmakers. The international standard for the minimum age to gamble is 18. However, the Michigan government has set this age to 21. Be sure not to violate this because even though you’re going offshore, you’re still a resident of Michigan.
Benefits of Offshore Betting
As the Michigan Gaming Control Board has already legalized online sports betting, you need strong reasons to opt for offshore betting. We’ll let the betting expert Tim Harrison illustrate the points.
A Lager Library of Sports and Markets
In Tim’s experience, offshore betting sites offer more sports and markets than local betting sites in Michigan. It’s simply because Americans have a different sports appetite than Europeans or Asians.
If you love all sports equally, an offshore gambling site would be better for you.
Most Competitive Odds
The size of the customer base directly relates to how bookmakers project odds. In Tim’s experience, offshore betting sites have a significantly larger audience than local American bookmakers.
As a result, you can expect better odds for your stakes if you opt for offshore gambling. Better odds almost always translate to higher winning potentials.
A More Diverse List of Payment Methods
The available payment methods across all online betting sites registered in the US don’t change from state to state. But when you leave the country, you can explore a much larger payment methods library for your deposits and withdrawals.
Now, it’s not always a good thing. Not all payment methods are created equal. Tim recommends sticking to reputable names that international customers vouch for.
Legal and Regulatory Considerations
You already know that offshore betting is not criminalized according to Michigan laws. But as you’re going outside the US’s jurisdictions and you plan to spend real money, Tim wants you to be responsible.
The very first step of being legally responsible is to figure out the license of the betting site. According to Tim, regulatory bodies like the Malta Gaming Authority, Kahnawake Gaming Commission, Curacao Gaming, etc. are the safest.
The last thing Tim wants you to do is go to the T&C page of the betting site and look up the restricted countries. If the list includes the US, avoiding that betting site is best.
Safety and Security
After you ensure that you’re not breaking any laws in the US or the origin country of the betting site, you need to focus on the security features. Is the betting site encrypted? Does it have certifications? Is there a 3rd party auditor to ensure the fairness of the odds?
Finding answers to these questions will give deeper insight into how safe your chosen betting site is. Of course, you’ll not find all of these features on the same betting site. But your goal should be to find at least one or two security features apart from the license.
Wrapping Up On Offshore Betting In Michigan
Michigan is one of the few states that don’t criminalize offshore sports betting. You know the consequences if you’re a resident and love exploring unique betting opportunities. We thank betting expert Tim Harrison for taking us through the benefits and risks of offshore gambling for Michigan residents.