Your Guide
Online sports betting is really starting to take off in the US, especially due to the overturning of the PASPA law which previously prevented each state from legalising sports betting.
Even though each State is proceeding at their own pace, many players have discovered that online sports betting is available to them, and that there isn’t really a need for legalisation to occur to actually bet.
In the State of New York sports betting has been legalized.
However only onshore physical sport books at Native American casinos are regulated and licensed to offer sports betting odds.
This has disappointingly excluded many commercial sports book operators from entering the market.
But, did you know you can in fact bet at online sports books within New York State? These sports books are based offshore, usually residing in Central America or the Caribbean. They sit outside the jurisdiction of the New York State gambling laws, therefore able to accept sport betting wages from New York locals.
Top New York Online Sports Betting Sites
Choosing an online sports betting sites, requires several considerations. It’s more that simply looking at the style, or theme of the site, and should extend further to the functionality, ease of use, and betting options.
Choosing a site with based on betting odds is extremely difficult. Odds consistently change and with players skewing bets to either side for different sports books, the odds will change accordingly. It is therefore extremely difficult to judge on a sports betting site based on odds. In general, most sites will be as competitive as each other, and in fact, generally you will find that they all offer the same odds at the same point in time for pre game bets.
Online Sports Betting Laws
Now you may be questioning the legitimacy of betting online at offshore sports books. Is it safe? Are there any legal risks?
Firstly, the top sports books (for example Bovada which extremely well known), are safe to play at. They will honor your winnings and provide professional service 24×7. In general steer clear of any new sports books that have yet to be tried and tested. Of course, this difficult for an individual to know which are truly trustworthy, so as a start stick with Bovada, where you can’t go wrong.
It is risky? As a sports bettor, the laws are in fact ambiguous. For sports book operators it is relatively clear that they are not permitted to operate onshore, but for sports bettors themselves it is not clear cut. There may be an element of illegality (and honestly I am not a lawyer, let alone an expert in gambling laws), but I do know that to this day there is no instance of a sports bettor being informed of breaking the law (let alone fined or penalized).
Advantages & Disadvantages Online Sports Betting
Let’s first discuss the advantages of playing at online sports books.
Online sports betting is super convenient. You don’t need to travel interstate to New Jersy, you don’t need to travel up state to a Native American casino that offers a sports betting kiosk. You can place a bet anytime, anywhere.
You also get the best odds online, when compared to land based. If any circumstances changes to affect the odds, you can quickly place a bet rather than travel, wait in a queue and have a sports betting ticket issued.
Via online sports books, there is a multitude of sports betting options, that simply would not be logistically possible at a land based sports book. Online sports betting menus are scalable and unlimited. Online sports bettors can also easily scroll and search for their favorite games easily.
If you like action then you will love In Game Betting. With fast processing of algorithms, resulting in sports betting odds being calculated at the click of the fingers, online sports books can offer mid game (in game) betting options. In Game betting options, though possible at a land based sports book, the variability and scalability is simply not sustainable.
⚠️ Be aware, that a live telecast of a sport game may not be truly “real time”. Often there is a delay in telecast, sometimes up to a minute and therefore be careful if you see that the odds become suddenly very good! It may be because you are behind with the real play.
There are a few disadvantages with online betting. Personally, I prefer to bet with a group of friends while watching the game unfold together. You can still do that with online betting, but in most cases (especially during the time of writing when the corona virus continues to spread unabated), betting will be relatively alone. This isn’t as fun as watching and betting in a group. But this is a personal preference.
A second disadvantage, is that it is easier to get carried away. The ease of accessibility for some players can be detrimental to their finances. Therefore, I encourage you not to bet online, if you believe that it would lead to financial distress for you, family and friends.
Opening a Sports Betting Account
Betting online is slightly different to betting at a physical sports book. To start with, you need to open an account with the sports book site and fund it by transfer money to it. In this regard, you are essentially floating your sports betting account.
Opening an account will require your personal details and in most cases your ID (upfront). Some sports betting sites, will only request for you ID on withdrawal of funds, but most will be upon opening.
Once the account is opened, the sports betting site will have several options for you to transfer money to the account. The most common are bank wires, credit cards and prepaid cards. Becoming more common is the accept of Bitcoin, though this is still not offered at all sites.
Once you have floated your account, you will be able to place a bet. Your account balance will fall when a bet is placed, and it will increase when you win. If the account falls to zero or there are insufficient funds to place a bet, you will be required to top up the account with a deposit. Once topped up, you will be able to bet again.