We have been getting a large volume of inquiries where the main focus revolves around, “ Is it sill safe to send money to an online/offshore betting company?” The answer is yes, with a word of caution.

Many people who have contacted us are concerned after finding out that reputable sportsbooks BetJamaica and VIP closed over the summer and several other outfits are either not taking bets from Americans anymore or are not taking any new customers from the U.S. These inquiries associate the changes offshore since last football season as a sign of weakness in the industry. While some places may need a good football season to survive, the long standing, uber-solid outfits, are just fine.

The online sportsbooks that started before there was ‘online betting’ are certainly safe. Bookmaker, with 20+ years experience, and companies like YouWager, SBG Global, BetOnline, JustBet and other Elite-rated Sportsbooks who opened prior to 2000 have seen it all and are still standing. We expect these storied companies to not only last for many more years, but to increase their size and reach as the industry continues to consolidate.

Players have also found that many of the perks they got in previous years and most of the high signup bonuses are no longer available. Is this another sign of weakness? No! It’s just another sign of the times.

For example, BetUS has given customers their calendar loaded with scantily-clad girls, the DVD on how the calendar was made and a 100% sign-up bonus for the last six years. Now, they are not taking new U.S. players and they did not even produce a calendar for 2011-2012. Most of the offshore sportsbooks have also increased the amount of rollovers needed to withdraw bonus money and have eliminated free payouts or other perks that had kept customers happy.

But these things are more a sign of the times than anything. As with most businesses, online sportsbooks are tightening their belts. Similar to many of the land-based casinos, where it’s much harder to get a free room or show tickets, it’s harder to get perks online. Between the smaller margins (because players are getting better every year) and the higher prices that gambling houses must pay to process money in the face of the UIGEA, it’s no wonder that some of the perks usually offered have dwindled.

Several years ago, almost every book had a 100% (or more) sign-up bonus, and many of those were cash bonuses. However, in today’s environment, most everybody gives away a Free Play bonus. The big difference between the two is that you have to win the Free Play to actually get the money to wager with and collect in your account. Cash is just applied on top of any monies sent in. so technically, the Free Play is not worth quite as much.

Still there are two places that offer sizeable cash and a handful of outfits that still give big bonuses. You can grab cash at two smaller outfits – BetIslands and BetRevolution. And big bonuses of 100% are still available at Badlands and WagerWeb. But players must still evaluate every offer to see if it will work for them. For example: a smaller bettor, making a larger deposit,  should look for a smaller bonus with a lower rollover that will be more achievable.

But players should never shop for a place to play based on bonuses, offers and perks. The bottom line as we have always said is to get paid when you win. And that is where the word of caution comes in. Even the most solid of Sportsbooks can run into payout problems. The U.S. government and it’s enforcement of the UIGEA has made it very difficult to move money back to players in the U.S. This is one of the main factors that caused the closure of  BetJamaica and VIP and why so many other outlets do not want new U.S. customers. So as a precaution, players should not let their balances get too high. If a player has more in an offshore sportsbook account than will be wagered over the next four weeks,  he or she should pull some money out. And that is at the most safe and reputable places out there. For  the smaller, newer outfits, to mitigate the potential for disaster, players should tread lightly. It is all right to try out a new outfit, but sticking with the established and reputable outfits should be the main focus of anyone’s current wagering strategy.

So yes, it is safe to send money to an online sportsbook this year as long as you understand that the game is the same, but the rules for playing it are a bit tighter.