Definition of Offshore Book

What does the term "offshore book" mean in the world of sports betting? What is the definition of the term "offshore book"?

The term "offshore book" is used frequently in the United States and is used to describe a sports book that caters to US customers and operates in a place free from the reach of the US government, such as Antigua.

The King explains the term Offshore Sportsbook.  In photo - Antigua beach birds eye view.

Sports Betting is still illegal in a number of US states, so many people will open up accounts at "offshore books" in order to bet on sports. This is seen as a better option than using a local "bookie" or travelling to Las Vegas, New Jersey or any of the other states were sports betting is legal in order to place a bet.

There are two major downsides to opening up an "offshore" account:

1) It can be quite difficult to move money onto and off of an "offshore book". In many cases, cryptocurrency is the only way to move money.

2) If an offshore book went out of business, there would be pretty much nothing you could do to get your money back.

As more and more US states legalize sports betting, offshore sports books will likely feel the pinch, as many of their customers come from states where sports betting is currently illegal.