Scrabble Dictionary

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Yes, offset is playable

...and is worth 12 points.

Found in the following dictionaries

Enable (Words with friends)
SOWPODS (Collins Scrabble Words)
OTCWL2014 (NASPA Word List 2014)
TWL06 (NASPA List 2006)

"Offset" Definition

noun

A bend in a pipe, bar, or other straight continuous piece made to allow it to pass around an obstruction.
A descendant of a race or family; an offshoot.
A short distance measured perpendicularly from the main line in surveying, used to help in calculating the area of an irregular plot.
An agent, element, or thing that balances, counteracts, or compensates for something else.
Architecture A ledge or recess in a wall formed by a reduction in thickness above; a setoff.

verb

To place over against something .
To serve as a counterbalance for .
To form an offset in .
To become marked by offset.

verb-intransitive

Printing To become marked by or cause an unintentional transfer of ink.
To develop, project, or be situated as an offset.

verb-transitive

Printing To cause (printed matter) to transfer or smear onto another surface.
Printing To produce by offset printing.
To counterbalance, counteract, or compensate for: fringe benefits designed to offset low salaries.
To make or form an offset in (a wall, bar, or pipe).