Bovada is not a legal U.S. sportsbook, and is not authorized to operate in the United States. Here at abe, we only do business with sportsbooks that are fully legal and regulated in the U.S.
These are often referred to as onshore sportsbooks, or onshore books, as they have physical operations and servers located in the United States. Bovada, on the other hand, is an offshore book, and is therefore not legal stateside.
Their servers and operations are based in tax enclaves liked Malta, Gibraltar and Costa Rica, and they are not subject to regulation and/or oversight from the U.S. government.
The defiant rebel in you might be saying, "MAKE ME use a legal sportsbook — I’m going to use Bovada and keep all my money instead of letting the government tax my hard-earned winnings."
As beloved ESPN college football analyst Lee Corso would say, "Not so fast, my friend!"
There are a number of reasons why bettors should avoid offshore books like Bovada and instead use onshore books like FanDuel, DraftKings, MGM and PointsBet.
One of the key reasons is the ability to withdraw deposits — and the fact that the money is legal to obtain, which isn’t really the case with Bovada and other offshore providers.
Onshore books undergo a rigorous approval process, with state gaming agencies ensuring that operators are financially strong enough to meet the potential cash demands of bettors.
In contrast, Bovada is subject to none of those regulations, meaning no one is monitoring its financial health, introducing the risk that your offshore deposit could be inaccessible.
The final reason to use onshore books comes down to the simple fact that a portion of their revenue goes to pay state taxes that in turn fund important social programs like early childhood education.
There are also recent initiatives and campaigns to raise awareness about responsible betting and strategizing guides for bettors on how they can wager on sports legally, safely and with good judgement and discretion.
Offshore sites like Bovada, however, evade U.S. taxes, providing no benefit for American citizens — except for dubious access to betting winnings that aren’t even legal to withdraw in the U.S. to begin with.
Be a responsible, legal-friendly bettor/good Samaritan and use onshore books instead of offshore books like Bovada, BetAg, 5Dimes and Bodog.
Tricky as it can be to profit from sports betting in the long term, you’ll almost guarantee yourself failure if you circumvent legal means of wagering with a sportsbook like Bovada and find real trouble as a gambler and as a citizen!
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