5Dimes has been established back in 1996 and serves as one of the long-standing offshore betting providers, stirring controversy with US players in a limited market and attracting bettors with no other options on the table. However, there are a lot of grey areas and there is a lot be careful about.
Indeed, 5Dimes sportsbook is licensed in Costa Rica and while the offer is there, it begs the question is 5Dimes safe, legal and what 5Dimes American players actually get with the operator. Let’s now take on a detailed 5Dimes review and see why many suggest it should be avoided by bettors in the United States.
Instead, why not check out these legal, legit and extremely reliable bookmakers below:
5Dimes Sportsbook might not be the right choice, but we've got plenty of other great recommendations!
The 5Dimes first deposit bonus and rewards system are rather complicated to understand, as it’s usually the case with offshore gambling companies. This has many customers complaining they had to contact and clarify the terms and conditions with the customer support, which doesn’t really inspire confidence either when asking yourself is 5dimes sportsbook legit.
The deposit bonus consists of 50% free-play up to USD 520 for the sportsbook, together with promised reload bonuses and a number of other rewards – including cash back, 30% super saver reward, free payouts and more. While there are detailed FAQs for each of these traits, they seem a little confusing and are indeed better to take up with the support agents. For bonuses you can trust, take a look at our Resorts online casino promotions and Pala Casino promotions codes reviews.
Usability: Platform with a basic design
While 5Dimes serves as one of the first offshore online gambling operators, the website and 5Dimes desktop interface feel like it hasn't been updated since opening its virtual doors in the 1990s. It is largely reminiscent of Windows XP and offers a very simple design, including some even older button designs – hardly a boasting point when offered to modern players who enjoy betting on profound and well thought out sites.
Payment Methods: Withdrawal options are unreliable
Now the important question, how to fund 5Dimes accounts? There is a number of payment options available but the limits are often only discussed with the customer support. The minimum deposit for VISA debit cards is USD 50 with no fees taken, while withdrawals can be done through checks (with a fee of USD 40 to 80), Money order (fee: USD 80), and Bank transfers (fee: USD 80). 5Dimes allows and encourages using Bitcoin, with a minimum deposit of USD 25 and no maximum limit with no fees taken, which does provide some anonymity but cannot be seen as a true shield to keep one's funds safe.
It is important to note that there have been reports of certain withdrawal methods temporarily suspended with no reason offered by the operator, which again is something often seen with offshore providers and contrasted by the regulated US sportsbooks.
Customer Support: Representatives at 5Dimes are unable to resolve issues quickly
Lastly, the customer support is available through a number of channels, including phone lines, live chat, and e-mail service. The response times are good enough through most of the day but it can often feel like getting a knowledgeable answer for specific issues is more of a task. Interestingly, one can place bets via phone and this works even with 5Dimes live lines and serves as an attempt to better suit the needs of customers.
Why not check out one of the awesome bookies below!
Changing Legislation and Its Effect on Offshore Operators
The times they are a-changing and once very restricted market in the United States which allowed no online bets whatsoever now has more lenient laws in several states, which adds to the overall feeling offshore operators will be pushed aside in favor of state-licensed bookies.
The sportsbooks licensed to operate in the state you’re in offer a more profound experience, which boasts user-oriented approach and dwells seriously on a standard of service as well as the overall safety. This ultimately means US players looking to place bets will no longer have to take their bankrolls offshore in order to gamble.
While the laws have not yet strictly restricted offshore operators to accept customers from the United States, the day could soon come with the on-going changes and this could mean additional trouble for the players.
Although this might be hovering in the future, it is obvious players prefer dealing with regulated companies as this provides a safer approach to gaming, especially in case of an issue where offshore operators arbitrate for themselves while legal operators have laws they need to abide. This means the industry could see state-based bookies prevailing even sooner than expected.
Is 5Dimes Legit? Why Not Play Here?
The fact 5Dimes holds a license in Costa Rica could point towards its legitimacy, the fact the company failed to obtain a license to operate in the United States and still offers service to players country-wide proves otherwise. Question is 5Dimes legit demands an in-depth rationale with regard to industry standards.
State-licensed sportsbook operators offer a guarantee of quality service, regulated by the Division of Gaming Enforcement in an attempt to provide a safe surrounding for one’s gambling experience. This is founded on a basis of legal operations and gives end-users instruments to ensure such claims are in fact true.
Offshore operators can offer no such guarantee, as 5Dimes betting means taking part lurking in a black market. While the state agencies do not pursue players just yet, it obviously means 5Dimes betting site could be closed at all times with no prior warning.
Furthermore, there’s no immediate care for players’ data or the funds in such circumstances, which adds to the unpredictability when setting up an account. The users are obligated to pay taxes for the potential winnings but the payment methods provided by the operator also add to a feeling of promoted tax evasion, which could mean further problems in case of legal battles for the site’s sustainability.
On the other hand, 5Dimes EU boasts top-of-the-line software and promises gold standard in online gaming but lacking licenses or real regulation makes it really hard to actually confirm those. 5Dimes gambling thus comes off as a vague environment and cannot be recommended to players wanting safety above all, but the advantages of staying with regulated operators don’t stop there – with a need to discuss 5Dimes betting limits, bonuses, site usability and possibly most importantly 5Dimes payouts. Keep reading our 5Dimes sportsbook review and get more detailed info on essential features. Check out our Trixie bet strategy review so you sign up to 5Dimes with some new betting tactics.
Am I liable to prosecution if I play with an offshore operator?
This is still somewhat of a grey area, as some laws suggest this as a possibility but the state agencies are not prosecuting players, even seemingly avoiding to strictly go after the offshore operators in some states.
Can I play with Bitcoin?
5Dimes accepts and even encourages using Bitcoin with lower fees and lesser limitations when it comes to depositing and withdrawing. While many players suggest it’s the safest approach to banking, the anonymity offered is not a firewall and will not mean your funds are safe with offshore operators.
Do I have to pay tax on my gambling winnings?
Yes, of course. Some bookies tend to even encourage avoiding it through payment methods of kinds, but players in the United States are obligated to pay taxes on winnings regardless of the fact where the bet was placed.
Are the odds with offshore operators better than with legal operators?
In some cases, obviously, yes but this doesn’t serve as a rule. Avoid taxation means more income for the offshore bookies but this doesn’t necessarily mean better odds than what legal operators offer.
Does the minimum age of 21 apply to offshore betting operators?
Not regulated by the state agencies, some bookies accept players as soon as they turn 18. However, it’s still not yet legal by most laws and should be avoided at all costs.
Staying Safe Regardless of Tempting Offers
With the recent changes in laws and regulations, US gamblers have got opportunities to legally enjoy the online experience which comes with licensed operators. Offshore companies have, on the other hand, lured customers in over the course of over two decades with next to no regulation but it seems to be coming to a halt.
This makes it all the more important to emphasize the importance of staying safe and the only way to do so is with the state-licensed bookies and casinos, which tend to provide better service but are also legally obligated to comply with the said regulations.
Due to its lack of any US licensing, coupled with the other issues and irregularities we've uncovered during our review, we have been forced to blacklist 5Dimes and hope that on our recommendation you will avoid it. Be sure to take a look at our DraftKings review and Sugarhouse sportsbook review instead, for licensed providers you can trust.