Is “Offsets” a Scrabble word?

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Yes
OFFSETS
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Offsets

noun
  1. 1.Anything that acts as counterbalance; a compensating equivalent.

    Today's victory was an offset to yesterday's defeat.

  2. 2.A form of countertrade arrangement, in which the seller agrees to purchase within a set time frame products of a certain value from the buying country. This kind of agreement may be used in large international public sector contracts such as arms sales.

  3. 3.(c. 1555) A time at which something begins; outset.

verb
  1. 1.To compensate for, by applying a change in the opposite direction.

    I'll offset the time difference locally.

  2. 2.To form an offset in (a wall, rod, pipe, etc.).