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A VPN does not change where a gambler legally is. Operator terms treat masking a location as a breach that can void bets and freeze balances, licensed US markets must block wagers from outside the state, and courts have weighed VPN use against the player. Withdrawal is where these rules usually bite, because that is when identity and location are checked.
"Offshore casino" is a common term that is often misunderstood. It usually means an online gambling site licensed, or simply incorporated, in one jurisdiction while taking players from countries where it holds no licence. Many offshore sites display a licence seal. That seal answers only one question: which authority, if any, supervises the operator at home. It does not answer whether the site is allowed to serve a player in, say, Michigan, Germany or Chile.
Licensing records obtained by Democracy for Sale and shared with The Times allegedly show that Tether.bet's declared owner submitted a London property-sale document that Land Registry records do not support when applying for a Curaçao gambling licence. George Cottrell, an ally of Reform UK leader Nigel Farage who has been linked to the site in press reports, says through his lawyers that he has no interest in it and was only a customer.