Licensed Baseball Sportsbooks
In its most simple form, bookmaking can be defined as the act of taking bets from clients who wish to wager on the outcome of sporting events. Bookmaking operations in the United States are called sportsbooks, and their operational procedures are far more complex than merely taking bets.
The financial nature of bookmaking justifies the need for licensing, regulation, and oversight. Clients have a right to know and trust the entities the sportsbooks their bets with. To achieve piece of mind, players should ensure that they are dealing with licensed sportsbooks.
Licensed Nevada Sportsbooks
In the United States, licensed sportsbooks are regulated establishments that can only operate lawfully in the State of Nevada. The State Gaming Commission only allows bookmaking to take place from “brick-and-mortar” structures that already possess a non-restricted gaming license. This essentially forces sportsbooks to physically operate from within the major hotel/casinos in Nevada and to conduct their transactions face-to-face.
Licensed Online Sportsbooks
The restrictive nature of licensing and regulation in the United States has prompted several sportsbooks to go offshore and conduct their business online. Just because these sportsbooks do not operate from casinos in Las Vegas does not mean that they are exempt from licensing. Depending on the jurisdiction they are based in, online sportsbooks are subject to a number of regulatory and taxation requirements. Some of the countries that online sportsbooks choose to operate in include:
- Costa Rica
- Antigua
- Jamaica
- Curacao
- Panama
Sportsbooks that decide to set up their operations offshore and conduct their business online and over the telephone have a few advantages over the licensed sportsbooks in Nevada. Online sportsbooks do not have to worry about the costs of maintaining brick-and-mortar establishments or face-to-face customer service. This lower overhead allows online sportsbooks to pass on savings to their clients; usually in the form of cheaper bets and incentives.
Licensed sportsbooks in Nevada are not as competitive as their online counterparts. Players who are looking for value, convenience, and the best money lines can turn to the internet and get the comparison information they need in seconds. In Nevada, players would have to drive or walk from one casino to the other in search of the best lines.
Many clients of sportsbooks in Las Vegas and other parts of Nevada come from California and the neighboring Western states. These clients are very likely to place bets on their favorite west coast teams. As a result, the price of wagering on west coast teams as Nevada sportsbooks is usually higher. That is simply not the case with online sportsbooks as their players come from different parts of the world.
The Bottom Line
Licensed sportsbooks in Nevada have a certain charm. Since they are located within luxurious casinos, they are able to offer their clients a nice range of amenities. Online sportsbooks offer players greater value, convenience, and flexibility.
A very important aspect that is shared by both the Nevada and online sportsbooks is licensing. Clients looking for action should first make sure that the sportsbook they will be placing their bets with is licensed in the proper jurisdiction.