Are there any offshore betting exchange sites in the US?
When browsing offshore betting sites available to US players, you may run into a problem that gamblers are facing today – a lack of exchange betting sites.
Where exactly do you find the rare opportunity to take part in peer to peer online betting via offshore sites?
And why is it so hard to find them?
Currently, there aren’t any offshore exchange betting sites available to US players, with the exception of MatchBets.com.
Interested in learning more about MatchBets exchange betting and why the process to get more sites like it is still underway?
We’ll be diving into the details of the legal process that will hopefully give US bettors more offshore options in the near future.
US Offshore Betting Exchange Sites – Overview
Unfortunately, there aren’t really any offshore betting exchange sites for US players – at least not yet. There are, however, some offshore betting exchange sites available to UK players, such as Betfair.com.
This leaves US peer to peer bettors at a bit of a loss.
They’re limited to offshore betting sites that only offer against the house wagering markets.
And although those platforms have a lot of bonuses, promos, and other cool offers to avail, they aren’t ready for P2P.
The Closest Option – MatchBets
Although there aren’t any official US offshore betting exchange sites, there is one site that poses a close match.
Matchbets.com actually fits the person to person (peer to peer) wagering model. MatchBets is available as an offshore site for US players to join.
It’s the nearest thing you can get to an exchange betting site while those sites aren’t yet approved or legalized.
MatchBets features 35+ sports to wager on, including professional US leagues, F1 racing, and more. There’s a welcome bonus worth up to $500, and their exchange bets include all straight wagers – spreads, totals, and lines.
If you’re at least 21 and want to try player to player betting, you might consider MatchBets until other sites open up.
Why Aren’t There Any Offshore Exchange Sites in the US?
At this point, you’re probably wondering why there aren’t any other offshore exchange sites for US players. The answer is a little bit complicated since gambling laws vary across the world. But basically, offshore peer to peer betting sites aren’t yet legal for US players.
Keep in mind that legal sports betting has only recently become legitimized in the United States. States such as West Virginia, Maryland, Arizona, Nevada, and Pennsylvania have found their place on the list.
However, there are still states fighting to get bills passed that allow them to run licensed and regulated sports gambling operations, like online sportsbooks. And these are just the domestic sites. So when you consider that setback, it’s easier to understand why US players can’t just legally join certain offshore sites.
But perhaps one of the biggest setbacks is the Federal Wire Act – a 1961 US act designed to prohibit certain betting businesses. It basically makes it illegal for betting operations to pass wagers across state lines.
This is why you can only join domestic sportsbooks within your state. And since exchange betting may involve wagering with peers across state lines, you’re getting into illegal territory.
Another key reason that these offshore exchange sites don’t exist for US players is that they can’t really generate revenue. With so many legal limitations in the US, it doesn’t make financial sense for offshore sites to extend their business to US players. They wouldn’t get enough people to join and spend their money.
This is coupled with the fact that exchange betting doesn’t create as much revenue as traditional sportsbooks. When you bet against the house, the betting site makes a good commission. But with exchange betting sites, that commission is significantly lower.
What is exchange betting liquidity?
Liquidity refers to the availability of cash for exchange betting sites. Offshore exchange betting sites would likely have low liquidity when they first become legalized.
What are the benefits of exchange betting?
Exchange betting involves a lower house edge and lets players wager among friends, rather than against an oddsmaker.
What are the downsides to exchange betting?
There aren’t always lots of options in terms of markets, and you can’t utilize parlay bets. You’re also betting with lower stakes.
Hopefully, we’ve answered your question are there any offshore betting exchange sites in the US? Right now, the closest thing you can find is Matchbets.com, which allows exchange betting for straight wagers.
Until these betting sites can overcome the hurdle of the Federal Wire Act and gain some liquidity, US bettors don’t have any other options.
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