Everything about legal online sports betting in the United States
Knowing where to find legal online sports betting places is a keystone for every responsable online bettor. This will guarantee you your payouts and ensure a smooth, worry-free betting experience. That’s why we have compiled a legal betting guide by location, and given you some tips for finding your own!
What you need for legal betting in your location:
Legal restrictions can vary greatly across national boundaries. They can even change quite a bit when you cross state or province lines.
This creates a messy legal patchwork. The laws seem to be intentionally unclear at times, and understanding the whole thing requires a team of betting experts.
Luckily we are here to help. We have vetted the legal sports betting landscape and compiled the best ones in many geographic regions, including the United States, Canada or even internationally.
There are many forms of legal sports betting in the US. You can bet at brick-and-mortar sportsbooks in Vegas or use their online services, which are typically restricted to Nevada. There’s also a lively debate over whether fantasy football sites like DraftKings are in fact a form of betting; in New Jersey, Illinois, Pennsylvania, Colorado, and Iowa DraftKings actually have a legal online sports betting arm.
We get questions from our readers and the most common one is this: Is online sports betting legal? And if so, where is sports betting legal?
Gambling is heavily regulated in the United States. It is important from the outset to make distinctions within the legal framework between offline and online betting, as well as between sports and casino gambling.
Offline sports gambling was restricted to Nevada until the 2018 Supreme Court decision (Murphy v. National Collegiate Athletic Association) opened up the markets. Now states can choose to legalize and regulate sports betting. Online sportsbooks like Bovada are typically not available in the states that have created their own regulated market.
Bovada keeps fees to a minimum, and Bitcoin bettors will have it even cheaper.
Bovada processes payments incredibly fast, and their odds are always fresh.
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Casinos are regulated on a state-by-state basis. In Nevada and Louisiana, casinos are legal statewide. In all other states, they are reserved to small geographic regions, such as Atlantic City in New Jersey.
Other states are allowed to enter agreements with Native American tribes. The Indian Gaming Regulatory Act of 1988 made this possible. Other states have not entered into these agreements and have instead restricted gambling to riverboats.
Online gambling on the other is available for bettors in the US much more easily. The geographic restrictions are much softer, and most of the gambling laws do not regulate online bettors, but rather online sportsbooks.
In other words, even though online gambling has faced stiffer challenges from a legal perspective, as a bettor, you are actually more free to bet from more places online. Bookmakers get around these regulations by putting their headquarters in other places, such as Panama.
This is one of the biggest advantages of online betting, compared to offline. You can bet from almost wherever you are. No need to drive sometimes hundreds of miles to place a few bets.
There are only two inevitables in life: death and taxes. Though that may not be the case with gambling!
These rules will of course change a lot depending on the laws in each country. It can be complicated to figure out what exactly one is to do.
Our team of experts has broken down the different rules and regulations on taxes, complete with a few tips on how to improve your bottom line. That’s what we’re here for: to make your betting experience as smooth and enjoyable as possible.
Something to keep in mind throughout this section is the role of data and identity. If you deposit through bigger institutions such as banks or credit cards, Paypal, or Interac, they are required to report your identifying information.
This is due to KYC (know your customer) regulations. The details of the information change from place to place, but it is always enough to identify you. Using cryptocurrency is one way to protect your identity.
According to the United States tax code, profit from gambling is considered taxable income. You are required to report this income to the IRS.
If you do not, there is a chance they will know about it anyway through the KYC protocols that banks and similar institutions must comply with.
There are some bright spots in this gambling tax situation. Bitcoin and other cryptocurrencies do not have a centralized institution and therefore do not follow KYC protocols. This is one of the advantages of using cryptos.
Also, gambling losses can be deducted from your gambling gains. So you will only be liable for net gains, rather than gross.
The United Kingdom has pleasantly relaxed laws regulating taxes and gambling. In fact, almost all gambling income in the United Kingdom is tax-free.
This is great news for anyone in England! Not only do you get to take home the entirety of your winnings, but the best part is also that you don't even have to think about taxes. No calculating, no worrying. It’s simple and we love simple.
Gambling tax was abolished for bettors in 2001, and the UK set up their Gambling Commission in 2005.
However, legal sports betting has to cover a fee. They charge a 15% levy on their earnings.
Australia is another case of a tax system that is full of good news for bettors. If you live in Australia and have an income from betting, you do not have to pay any taxes on this income.
This is justified by three points.
The taxes imposed on bookmakers vary across states, can be difficult to compare, and is mostly irrelevant to bettors.
The legal patchwork around gambling can at first seem overwhelming. But there is no need to worry. The team of experts here at SBS have pored over the details for you.
The key is to look at our list of legal betting operators wherever you are betting from. We not only make sure they are available, but we also make sure they are the best ones available.
Going about it like this will guarantee that you are acting safely, securely and legally. It will also come with our experts’ seal of approval.