Is the off-shore gaming industry played out?
The off-shore gaming gold rush started back in the early nineties. This is when guys were sitting in makeshift offices scratching out wagers over the phone on notepads and recording the days tally in ledgers. Long distance phone rates were outrageously expensive and the internet was still in it’s infancy. When the late 90’s arrived the cyber-age propelled the off-shore gaming industry into overdrive. Places like Costa Rica were literally swelling with cash. Then shortly after the millennium another boom hit! Companies like DGS emerged with software that not only automated many tasks that had been handled manually in the past, but also opened up a new concept to the gaming scene called “Pay or Price Per Head” (PPH). PPH software provides local bookmakers with the same tools and abilities as the off-shore books. It’s now easier than ever for local bookies to compete with off-shore books. Once a local bookmaker signs up with a PPH service there’s nothing an off shore book can offer that the local bookie can’t. The local bookmaker actually has the edge. Locals can extend credit and has actual contact with players. Most off-shore books are post-up operations only. They rarely extend credit.
Armed with PPH software the local bookmaker is now equipped with the same tools as the off-shore books. There’s really no reason for players to use an off-shore book. Not if they can find a good local bookmaker. And don’t think for a moment that your money is any safer with an off-shore sports book regardless of how well rated they are. They are just as willing to stiff or slow pay you as much as the next guy. It’s much easier just to deal with an actual human that you know. Then just as the off-shore gaming industry was peaking during the US housing boom, G.W. Bush enacted the gaming laws in 2006. This prohibited US citizens and residents living within it’s boarders from transferring funds to places like Costa Rica (where gaming is legal) for the purposes of gambling. The days of using credit cards and openly transferring funds for the purposes of gambling where over. This definitely put the squeeze on the off-shore industry, by creating more challenges on how money is processed and collected, but it certainly didn’t stop anything. Nonetheless volume did suffer and a lot of wagering houses closed their doors or simply vanished. Many of the more “forward thinking” off-shore gaming facilities saw the writing on the wall and started applying a heavier push towards the PPH business model. Therefore giving the business back to the local bookie. Read our article “PPH software put the local bookie back in business“, for more details. Had it not been for mobile wagering or the PPH business model off-shore gaming would have been on it’s death-bed years ago. Call or sign-up with 5 Star for more info. 1-888-980-9342. Don’t wait. Call today!