Bovada, one of the biggest black market gambling websites in the US, will no longer accept new registrations in Michigan and Colorado. Existing customers have a limited time to withdraw their account balances through crypto.
Michigan sent a cease and desist letter to the Costa Rica-based sportsbook in May. Bovada had until June 12 to exit the Wolverine State. Colorado sent the company a similar letter at the start of June.
Both states promised to follow up with legal action should Bovada fail to exit their markets. The offshore betting website ignored the warnings for seven days. However, on June 21, it closed new sign-ups in Michigan and Colorado.
After the recent threats of legal action, Bovada will no longer operate in these states: New York, New Jersey, Delaware, Michigan, Colorado, Nevada, West Virginia, Maryland, and the District of Columbia.
We Want You Out
Before 2018, Bovada was arguably the biggest offshore sportsbook in the US. Online sports betting was illegal across the country. Americans had to opt for an offshore sportsbook to bet on the Super Bowl, March Madness, and other sports sporting events.
After the U.S. Supreme Court struck down the PASPA Act in 2018, states gained the power to regulate sports betting. Thirty-eight jurisdictions have since then legalized sports gambling, from New York to Connecticut.
States with legal gambling laws don’t want black market sportsbooks to operate within their jurisdictions. And they’re now showing seriousness in taking action against black market operators like Bovada.
Brandt Iden, a senior executive at Fanatics Sportsbook, says Michigan has every right to chase away offshore operators.
“The regulated market can’t thrive if the illegal market is still there,” he said. “Michigan has taken the first step and I encourage other regulators to do it.”
A Victory for Regulated Gambling Operators
A blow to Bovada is a win for regulated sportsbooks across the US. Offshore operators take customers away from legal online betting websites. They also rob states of tax income and expose Americans to potential data theft.
If you’re thinking about betting on sports online, check out the websites discussed by casinos.us. The platform has a comprehensive list of legal alternatives to Bovada in all the states where Bovada is no longer active.
Legal websites offer every sport and league offshore operator feature. Some of them even provide better odds and bonuses. Add the safety aspect and there’s no reason you should risk your data in the hands of a black market company.
What happens if you already have an account at Bovada? If you live in the restricted states, you can withdraw your balances through Bitcoin or another cryptocurrency.
Where Bovada still operates, customers can withdraw their money through a variety of banking options.
More Legal Trouble for Bovada
Bovada’s list of cease and desist letters from US state regulators keeps piling up. After Michigan and Colorado sent their legal warnings, Connecticut followed with a similar legal document.
In July, West Virginia sent the Costa Rican company a cease and desist letter, a week after Massachusetts promised to take a similar legal move. Some state officials want the federal government’s intervention in kicking out black market operators out of the country.
Last year, Federal operators shut down an illegal gambling operator linked with money laundering in Las Vegas. Owned by former minor baseball player Wayne Nix, the ring included casino employees at MGM Grand. Nix admitted to running the gambling operation. He will be sentenced in September.
While the FBI has all the resources needed to take down black market operators, states tend to shy away from involving the Feds in state issues. This explains why no state has come out to ask for the federal government’s help officially.
What’s next for Bovada?
In 2022, Bovada had over 10 million customers across the US, Canada, South America, and Europe. The casino and sportsbook have been around for over two decades. Now, its future is at stake.
Bovada is located in Costa Rica and has licenses in both Costa Rica and the Comoros: its parent company has a license from the Anjouan Gaming Board in the Comoros.
While Bovada has gambling licenses, they do not allow it to operate in the US, Canada, or most European nations. It needs licenses from each jurisdiction where online gambling is legal to be considered a genuine operator.
For reasons known to the company, Bovada would rather restrict players from new gambling markets than apply for licensing. You see, most of the sportsbooks in New Jersey, Pennsylvania, and Ontario have been operating in Europe for years.
When these North American jurisdictions opened up legal gambling, they applied for licensing immediately. Bovada continued to operate in the shadows hoping state regulators wouldn’t take legal action.
As pressure mounts on the company to exit the US, Bovada has a huge decision to make. It can apply for licenses in states where gambling is legal. There’s no guarantee it will be granted licenses. Or it can exit the U.S. market entirely.
Choosing Your Next Gambling Website
If you have been using Bovada for sports betting in the US, you should probably look for a safer alternative. The feds are unlikely to come after you. However, Bovada has been suspending U.S. accounts left, right and center.
For the best mobile betting experience, find a licensed sportsbook in your state. Almost every state now supports mobile betting. A licensed bookmaker makes you aware the company is valid and not a fraud.
Choose a reputable sportsbook. A great reputation usually means a sports betting site has fair bonuses, comprehensive sports coverage, quick payouts, and competitive odds. Feel free to compare odds on several websites before you place your bets.
Another feature to check is the availability of live betting. Wagering on a match while it’s happening is exciting and can be profitable. This is especially true if you wager at a site with lots of bonuses.
Some features like live sports streams, parlay boosters, and crypto support aren’t compulsory. But they can elevate your betting experience.
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Publish date : 2024-09-13 07:54:00
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