What, Exactly, Is iGaming?

Illinois legalized sports betting more than two years ago, despite it feeling like a recent development.

In 2019, legislation was passed in Illinois allowing for sports betting. The first bet was placed at Rivers Casino in March 2020.

Since then, the industry has flourished consistently not just in Illinois, but also in many states across the US.

Despite the growth of online gaming, the iGaming sector has also experienced significant growth, similar to sports betting. However, even experienced sports bettors may have difficulty distinguishing between the two.

Let’s carefully review all the information to gain a clear understanding of what iGaming entails.

What is iGaming?

Illinois does not currently allow online casinos, but in states and regions where they are legal, such as Michigan, New Jersey, Pennsylvania, and Ontario, the term iGaming is used to refer to the online gambling industry. iGaming encompasses all gaming options available on a sportsbook operator’s website or mobile app. In Ontario, iGaming Ontario is the government body responsible for regulating online gambling activities.

iGaming includes online betting on upcoming games or events, such as wagering on a Chicago Bears game, playing daily fantasy sports, or potentially gambling at an online casino in Illinois.

The iGaming and online casino market is flourishing globally, with expansion beyond Illinois and the US into Ontario. Over the past year, popular sportsbooks in Illinois such as DraftKings, Caesars, PointsBet, and BetMGM have expanded their presence in Ontario, highlighting the increasing participation of our northern neighbors in this industry.

iGaming licenses are granted in various countries worldwide, such as Mexico, Germany, Italy, and Ireland, among others.

How to know if you’re betting safely

It is essential to register with a licensed gaming operator when signing up for a sports betting or online casino site, rather than choosing an offshore sportsbook or online gambling platform. Offshore sites like Bovada, MyBookie, and BetOnline are popular options, but they are all illegal in Illinois.

Online casinos and offshore sportsbooks operate beyond the jurisdiction of the US, and do not adhere to the same regulations as licensed sportsbooks operating within the country.

As a result, an offshore sportsbook user may face the possibility of permanently losing their account balance. Conversely, funds deposited into a licensed sportsbook are protected by regulatory authorities in states where sports betting is legal.

How to spot an offshore sportsbook

It can be difficult to differentiate between an offshore sportsbook and online casino website and a licensed sportsbook site at first glance. However, there are easy ways to verify the legitimacy of the operator.

To begin, make sure to look at the top or bottom of the website for the official seal of the state’s gaming regulation, such as the one in Illinois featuring an eagle holding a red ribbon. Additionally, keep an eye out for the RG logo, which signifies Responsible Gaming. Seeing these symbols will confirm that the sportsbook is licensed.

Next, you should check the website’s URL. If it ends with extensions like .ag, .lv, or .eu, it means that the site is offshore. These extensions correspond to the country in which the website is based. On the other hand, URLs ending in .com are typical of licensed US sportsbooks.

Finally, stay alert for the opportunity to deposit cryptocurrency as betting funds. Offshore sportsbooks often allow deposits in cryptocurrencies such as Bitcoin, which is a clear indication that you are on an offshore site. Licensed sportsbooks only accept deposits in traditional currency.