Regular sportsbooks are regulated in the country they offer betting options in whereas offshore sportsbooks are not located in the country. The licensing body for each sportsbook determines which sportsbook is considered offshore. For an offshore sportsbook can be regulated by the Malta Gaming Authority (MGA) or the Kahnawake Gaming Commission, which issue remote gaming licenses.
However, if the sportsbook isn’t regulated in New Jersey or Pennsylvania, the United States where it operates, the company will still be considered ‘offshore’, and not hold an official license to provide sports bets to local residents. Conversely, regular sportsbooks will hold licenses from the countries they operate in while still having the option of obtaining a license from a regulator that isn’t based in the country.