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What are offshore sports betting Sites?

By Guardian Nigeria
17 November 2022   |   5:35 am
Concerning their legal status, online sportsbooks often get separated into three categories. These are betting sites regulated by a government body that oversees gambling activity in its founding country only..

sports betting

Concerning their legal status, online sportsbooks often get separated into three categories. These are betting sites regulated by a government body that oversees gambling activity in its founding country only, internationally-licensed platforms, and ones unsanctioned by anybody. Apps from all three groups are available for Nigerians today, with many favoring foreign-approved operators, popularly referred to as offshore brands.

It may be surprising to many, but regarding gambling entertainment, Nigeria ranks as one of the most competitive markets in Africa. Going by a recent poll, around 36% of the country’s adult population likes to occasionally wager on games of chance and sporting events, laying down a whopping 730 billion Naira per year on this activity in total. The country’s National Lottery Regulatory Commission regulates this pastime, with various states boasting their local overseers, such as the Lagos State Lotteries and Gaming Authority.

Offshore platforms operate outside Nigeria’s borders from other nearby or faraway countries. They have gotten vetted by those territories licensing organizations and accept players from various regions. The main perks of using reliable offshore sports betting sites based elsewhere are that most of these have been around for years, so they boast impeccable reputations, feature high-end security measures, and offer attractive bonuses. On top of this, since they cater to a global market, they have diverse wagering markets on hand, paired with advanced betting functions.

Can Nigerians Use Offshore Sportsbooks?

In short, yes.
Gambling gets defined in the Nigerian Criminal Code Act. In its twenty-second Chapter. That law was enacted in 1990 that splits this activity into two categories, legal and illegal betting practices. It does not mention the digital sphere because when it got passed, the World Wide Web did not exist.

At the time of writing, Nigeria has around twenty official bookies listed on the National Lottery Regulatory Commission website. Some of the more established ones are Naijabet Limited, Ogabet Games Global Limited, and Africa Betting Company Nigeria Ltd. Millions of Nigerians use these. But it is vital to note that Nigerian authorities do not seek to prosecute those that forego these options, choosing to bet on offshore ones instead.

Top Offshore Regulators

The Caribbean nation of Curacao dominates the offshore regulator landscape due to this country’s policy of charging zero taxes on internationally obtained revenues by Curacao-based entities. That makes it an online gaming/betting haven for operators. What also contributes to the allure of Curacao as a premium spot for running an online gambling business is that it has four renowned but not overly strict regulators. These are Antillephone, CIL, Gaming Curacao, and Curacao eGaming. They all have similar licensing criteria, with Curacao eGaming ranking as the most prestigious organization of these four and Antillephone as the top crypto-gambling regulator in the sector.

Panama is another enticing destination for massive gambling brands, as it offers many of the same benefits as Curacao, with only one active regulator, The Junta de Control de Juegos. It issues gambling licenses that permit operators to run systems for electronic communications.

Costa Rica also frequently gets mentioned as a premium internet gaming/betting hot spot. Yet, in actuality, it has no regulator. Companies that operate online gambling businesses do so only as registered entities in this land, with their financial practices overseen by the Ministry of Finance. Naturally, if an operator breaks Costa Rican criminal laws by engaging in nefarious activities, they will get prosecuted by the country’s authorities.

Reputable Offshore Gambling Apps

Going by analysis provided by industry experts and veteran internet bettors, the three top sportsbooks operating outside of Nigeria that cater to a worldwide customer base are MyBookie, BetOnline, and BetUS.

MyBookie is a super-established betting site that delivers seamless gambling on any device thanks to its advanced software and intuitive interface. It is famous for speedy payouts, wagering variety, security, and a welcome bonus that can provide up to $1,000 in wagering cash via a 100% deposit match.

BetOnline went live in 2001 as Best Line Sports, and it has serviced gamblers from across the globe for over two decades, during which it has established an unblemished reputation. It has early and competitive odds, high deposit limits, an up to $1,000 registration deal, and many contests and promos for existing players. The poker room here may have some issues, but the sportsbook page is top-notch.

Finally, BetUS is another excellent choice for those wanting to partake in some offshore betting fun. It is a high-end choice because it is one of the internet’s oldest gambling sites, established in 1994, and the BetUS VIP program is robust, churning out sizeable perks weekly. Furthermore, this hub has had NBA and NFL Hall of Famers as its spokespersons, which should speak volumes about the credibility of this Panama City-based platform.
This article was written in collaboration with Sportsbook review experts