The sports betting black market is still problem, as a new Covers betting survey reveals that a third of bettors in legal states still use offshore books.
The black market is a major problem for legislators in states where sports betting is permitted — and they're right to be concerned, with a new Covers betting survey revealing that a third of bettors in legal states still use offshore books.Legal sports betting might be exploding in the U.S., but the black market is still a big part of the overall landscape — and not just where betting is illegal.
More than a third of sports bettors in legal states have an account with an offshore sportsbook, according to a new Covers survey examining betting habits. Of the 5,100 respondents surveyed, 33.9% admit to using at least one offshore sports betting site. As of August 2024, 38 states and the District of Columbia have sports betting legislation in place. And while the nation's best sportsbooks have successfully built sports betting clienteles in the millions, there's still a healthy appetite for black market betting in the U.S.to offshore giant Bovada, which has restricted wagering in the majority of these areas .
Most novelty betting opportunities offered in Canada and the U.K. are not available in the U.S., while others are only legal in a handful of states. Legislators steer clear of Super Bowl markets that have no impact on the game itself, while markets with pre-determined outcomes raise serious red flags among lawmakers due to the potential for insider information leaks.There has never been more scrutiny of legal sports betting in the U.S.
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