Sports gambling is a multibillion dollar business worldwide and even a $billion industry in the United States alone. There seems to be a misnomer industry wide that says sports gambling overall, is down. This is simply not true. Recent times have hit Las Vegas a bit hard but the offshore bookies are booming and doing better than ever.
The offshore bookie business took off around twenty years ago and it has grown massively. The industry continues to grow, get better and offer their clients more options than ever before. The offshore bookies can be credited with the current sportsbook revolution.
Years ago there was no such thing as live betting, the offshore guys created it and Vegas followed suit. Live betting can account for as much as fifty percent of any given days’ worth of revenue for some books and even more depending on what special events may be happening at the time, such as the NBA playoffs, the NFL Playoffs, the championship games, Super Bowl and the NCAA Tournament. All of these events play huge into the yearly bottom line of every single bookmaker in the world and even the corner bookies on the block of any local home town USA.
Las Vegas has scrambled to play catch-up and even the big time bookmakers such as The Caesars Group, William Hill, MGM and Wynn are following the offshore lines that are used every day. The Vegas “big- boys“ used to have a strong hold on the daily lines as well as the odds and line movement. This is no longer true as the tide has shifted and now Vegas follows the offshore Live lines.
Now that legalized gambling is in the forefront in the United States more than ever before, some are questioning whether or not the offshore bookies will take a hit; will they be crushed? In short, not a chance and here is why.
Competition is a good thing in any industry and the same goes for the gambling industry. If there is no competition, then the industry becomes a monopoly. The rise of the offshore bookmakers has kept Vegas honest and if New Jersey gets sports gambling legalized then it’s a for-sure that other states will follow suit and cash in on a $billion boon. Why wouldn’t they? But how does this not hurt the offshore groups?
Off shore bookies have better options, they offer more ways to bet than Las Vegas ever thought of including a plethora of prop bets, player bonuses, live wagering on most any sporting event and dynamic live wagering. You will never find this in Vegas or Jersey or any place in the United States. The other advantage is the options for the player when having several online sportsbooks in their hip pocket.
Most all of the serious players in Las Vegas have several favorite online bookies. The number one reason is the player bonuses that are offered. Most all online bookmakers offer a 100% bonus or more on every deposit after a bust out. The next best reason is even more obvious and that’s for better lines and hedging when need be. When a player makes a wager in a Las Vegas sportsbook and things are going south, they simply dial up their online bookie and get a great live line on the same game that hedges or they find a better line with dynamic live lines.
Sports gambling is no longer something that people do once or twice a year, this is a business and a great yearly income for many and these players will continue looking for the best deal, whether in Vegas or offshore.