Update 'UK Betting Firms Gamble on United States After Sports Wager Ruling'
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[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)<br>UK wagering firms bet on US after [sports betting](https://lets.chchat.me/read-blog/1968_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) wager ruling<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>5 June 2018<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>It's high stakes for UK companies as [sports betting](https://aceme.ink/read-blog/1663_missouri-sports-betting-ballot-measure-approved-by-voters.html) starts to spread out in America.<br>
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<br>From Tuesday, new rules on [sports betting](https://www.social.united-tuesday.org/read-blog/19469_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) entered into result in Delaware, a tiny east coast state about two hours from Washington.<br>
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<br>Neighbouring New Jersey could start accepting [sports betting](https://ozoms.com/read-blog/11090_compare-amp-review-oddsjet-de.html) bets as early as Friday.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>The changes are the very first in what could become a wave of legalisation after the Supreme Court last month cleared the method for states to allow [sports betting](https://jimsusefultools.com/index.php/User:Cara98T454704813) wagering.<br>
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<br>The market sees a "once in a generation" chance to develop a brand-new market in [sports betting](https://youslade.com/read-blog/41505_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html)-mad America, stated Dublin-based [financial analyst](https://ekotur.online/gambling/sports-minister-tracey-crouch-resigns-over-hold-up-to-betting-crackdown/) David Jennings, who heads leisure research study at Davy.<br>
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<br>For UK firms, which are coming to grips with debt consolidation, increased online competition and harder rules from UK regulators, the timing is particularly opportune.<br>
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<br>Why the [sports betting](http://archmageriseswiki.com/index.php/User:TraciKnaggs0) market deals with an unsure future<br>
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<br>How does illegal [sports betting](https://catvcommunity.com.tr/read-blog/4403_missouri-sports-betting-ballot-measure-approved-by-voters.html) work and what are the fears?<br>
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<br>But the [industry](https://connectworld.app/read-blog/222_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) states counting on the US remains a risky bet, as [UK companies](https://sundaycareers.com/read-blog/2679_the-ins-and-outs-of-betting-on-the-nfl-draft.html) deal with complex state-by-state guideline and competitors from established regional interests.<br>
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<br>"It's something that we're really focusing on, however equally we don't want to overhype it," said James Midmer, at Paddy Power Betfair, which just recently bought the US fantasy [sports betting](https://letustalk.co.in/read-blog/11503_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) site FanDuel.<br>
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<br>'Require time'<br>
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<br>The US represented about 23% of the world's $244bn (₤ 182bn) in video gaming revenue in 2015, according to a report by Technavio, external released in January.<br>
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<br>Firms are wanting to take advantage of more of that activity after last month's decision, which overruled a 1992 federal law that disallowed states outside of Nevada and a few others from authorising [sports betting](https://letustalk.co.in/read-blog/11525_the-history-of-the-nfl-and-how-to-bank-on-it.html).<br>
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<br>The ruling found the law was an over-reach of federal power. But the court it did not really legalise [sports betting](https://aquarium.zone/read-blog/6572_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering, leaving that question to local lawmakers.<br>
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<br>That is anticipated to lead to substantial variation in how companies get licensed, where [sports betting](https://connectworld.app/read-blog/219_just-how-much-are-americans-spending-on-sports-betting.html) wagering can occur, and which occasions are open to speculation - with huge ramifications for the size of the marketplace.<br>
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<br>Potential revenue ranges from $4.2 bn to [practically](https://ai.ceo/read-blog/244234_sport-betting-industry-seeks-to-protect-itself.html) $20bn yearly depending on elements like how many states move to legalise, Oxford Economics estimated in a 2017 study for the American Gaming Association.<br>
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<br>"There was a great deal of 'this is going to be big'", said Will Hawkley, London-based head of leisure for [consultants KPMG](https://jamesrodriguezclub.com/read-blog/6207_how-are-betting-odds-calculated.html).<br>
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<br>Now, he said: "I believe many individuals ... are looking at this as, 'it's an opportunity however it's not going to be $20bn and it's going to be state by state and it's going to take time'."<br>
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<br>'Remains to be seen"<br>
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<br>Chris Grove, managing director at Eilers & Krejcik Gaming, anticipates that 32 states will legalise [sports betting](https://sme.ass.in.th/read-blog/2302_how-to-attract-users-to-my-fantasy-sports-platform.html) wagering in some form by 2023, developing a market with about $6bn in yearly income.<br>
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<br>But bookies deal with a far different landscape in America than they do in the UK, where [sports betting](https://inicknet.com/read-blog/2278_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) stores are a frequent sight.<br>
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<br>US laws restricted gaming mostly to Native American lands and Nevada's Las Vegas strip till reasonably recently.<br>
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<br>In the popular imagination, [sports betting](https://wiki.tld-wars.space/index.php/Utilisateur:GeorgiaEsters6) has long been connected to a 1919 baseball World Series match-fixing scandal.<br>
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<br>States have actually also been slow to legalise many kinds of online gambling, regardless of a 2011 Justice Department viewpoint that appeared to get rid of obstacles.<br>
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<br>While [sports betting](https://realhindu.in/read-blog/21203_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) wagering is normally seen in its own category, "it clearly remains to be seen whether it gets the sort of momentum people believe it will," stated Keith Miller, law professor at Drake University and co-author of a book about [sports betting](http://yijichain.com/read-blog/15062_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) wagering policy.<br>
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<br>David Carruthers is the previous chief executive of BetonSports, who was apprehended in the US in 2006 for running an overseas online sportsbook and served jail time.<br>
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<br>Now a specialist, he says UK firms should approach the market carefully, picking partners with caution and preventing bad moves that might cause regulator backlash.<br>
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<br>"This is a chance for the [American](https://www.kuyasia.com/read-blog/29_for-sports-gambling-to-be-legalised.html) [sports betting](https://18plus.fun/read-blog/21_things-you-need-to-understand-about-rafting-adventures.html) bettor ... I'm not exactly sure whether it is a chance for company," he says. "It really depends on the result of [state] legislation and how the business operators pursue the opportunity."<br>
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<br>'It will be collaborations'<br>
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<br>As legalisation starts, [sports betting](https://ozoms.com/read-blog/11090_compare-amp-review-oddsjet-de.html) wagering companies are lobbying to fend off high tax rates, along with requests by US [sports betting](https://comunidadebrasilbr.com/read-blog/14389_how-are-betting-odds-calculated.html) leagues, which desire to collect a portion of revenue as an "stability fee".<br>
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<br>International business face the included challenge of an effective existing gaming market, with gambling establishment operators, state-run lotteries and Native American people that are looking for to safeguard their grass.<br>
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<br>Analysts state UK firms will require to strike partnerships, using their know-how and innovation in order to make inroads.<br>
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<br>They indicate SBTech's current announcement that it is supplying innovation for Kentucky Derby operator Churchill Downs as an example of the sort of deals most likely to materialise.<br>
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<br>"It will be a win-win for everyone, but it will be collaborations and it will be driven by innovation," Mr Hawkley stated.<br>
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<br>'It will simply depend'<br>
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<br>Joe Asher, president at William Hill US, is clear-eyed about the truths.<br>
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<br>The business has actually been buying the US market because 2011, when it acquired three US companies to establish a presence in Nevada.<br>
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<br>William Hill now uses about 450 people in the US and has actually revealed collaborations with casinos in Iowa and New Jersey.<br>
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<br>It works as danger supervisor for the Delaware Lottery and has invested millions alongside a local developer in a New Jersey horse racing track.<br>
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<br>Mr Asher said William Hill has actually become a family name in Nevada but that's not necessarily the goal everywhere.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>"We certainly intend to have an extremely considerable brand name presence in New Jersey," he said. "In other states, it will simply depend upon policy and potentially who our regional partner is."<br>
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<br>"The US is going to be the most significant [sports betting](https://youfurry.com/read-blog/37868_how-much-are-americans-spending-on-sports-betting.html) wagering market on the planet," he included. "Obviously that's not going to happen on the first day."<br>
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<br>US ruling opens method for [sports betting](https://cittaviva.net/read-blog/25196_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) wagering<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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