Add UK Betting Firms Gamble on United States After Sports Wager Ruling
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<br>UK [sports betting](https://customerscomm.com/read-blog/3714_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) firms gamble on US after [sports betting](https://younivix.com/read-blog/29902_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wager judgment<br>
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<br>5 June 2018<br>
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<br>By Natalie Sherman<br>
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<br>Business reporter, New York<br>
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<br>It's high stakes for UK companies as [sports betting](https://twoplustwoequal.com/read-blog/58984_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) wagering starts to spread out in America.<br>
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<br>From Tuesday, brand-new rules on wagering came into effect in Delaware, a tiny east coast state about two hours from Washington.<br>
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<br>Neighbouring New Jersey might begin accepting [sports betting](https://energypowerworld.co.uk/read-blog/144475_how-much-are-americans-spending-on-sports-betting.html) bets as early as Friday.<br>
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<br>The modifications are the first in what might end up being a wave of legalisation after the Supreme Court last month cleared the way for states to enable [sports betting](https://travel-friends.net/read-blog/1045_how-fantasy-betting-app-development-companies-and-sports-developers.html).<br>
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<br>The industry sees a "as soon as in a generation" chance to develop a new market in [sports betting](https://social.stssconstruction.com/read-blog/21359_start-off-winning-with-pcg-college-football-picks.html)-mad America, said Dublin-based financial expert David Jennings, who [heads leisure](https://mixup.wiki/index.php/User:GloryFer54) research study at Davy.<br>
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<br>For UK firms, which are grappling with combination, increased online competition and tougher rules from UK regulators, the timing is especially appropriate.<br>
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<br>Why the [sports betting](https://puzzle.thedimeland.com/4134/sports-minister-tracey-crouch-resigns-delay-betting-crackdown) market faces an unpredictable future<br>
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<br>How does [prohibited](https://seenoor.com/read-blog/442_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) [sports betting](https://flowsocial.xyz/read-blog/577_the-history-of-the-nfl-and-how-to-bet-on-it.html) work and what are the fears?<br>
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<br>But the market says relying on the US stays a risky bet, as UK companies deal with complicated state-by-state guideline and competitors from entrenched regional interests.<br>
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<br>"It's something that we're actually concentrating on, however equally we don't wish to overhype it," stated James Midmer, representative at Paddy Power Betfair, which recently purchased the US dream [sports betting](https://wiki.vifm.info/index.php/User:CooperMcLaren0) site FanDuel.<br>
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<br>'Take time'<br>
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<br>The US accounted for about 23% of the world's $244bn (₤ 182bn) in video gaming earnings in 2015, according to a report by Technavio, external released in January.<br>
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<br>Firms are [wishing](https://social.ppmandi.com/read-blog/237_online-betting-firms-gamble-on-soccer-mad-nigeria.html) to tap into more of that activity after last [month's](https://dev.fleeped.com/read-blog/52_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) decision, which overruled a 1992 federal law that disallowed states beyond Nevada and a few others from authorising [sports betting](https://uptoscreen.com/read-blog/74329_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html).<br>
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<br>The judgment found the law was an over-reach of federal power. But the court it did not really legalise [sports betting](https://drapia.org/11-WIKI/index.php/User:JermaineMcRobert), [leaving](https://oeclub.org/index.php/User:Harold1469) that concern to local lawmakers.<br>
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<br>That is expected to result in considerable variation in how firms get accredited, where [sports betting](https://octomo.co.uk/read-blog/6566_things-you-need-to-learn-about-rafting-adventures.html) wagering can happen, and which occasions are open to speculation - with huge ramifications for the size of the marketplace.<br>
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<br>Potential earnings ranges from $4.2 bn to nearly $20bn every year depending upon elements like the number of states transfer to legalise, approximated in a 2017 research study for the American Gaming Association.<br>
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<br>"There was a lot of 'this is going to be huge'", stated Will Hawkley, London-based head of leisure for consultants KPMG.<br>
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<br>Now, he said: "I believe many people ... are looking at this as, 'it's an opportunity but it's not going to be $20bn and it's going to be state by state and it's going to take time'."<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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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://meebeek.com/read-blog/1090_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) wagering in some type by 2023, producing a market with about $6bn in annual revenue.<br>
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<br>But bookmakers deal with a far different landscape in America than they carry out in the UK, where wagering stores are a regular sight.<br>
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<br>US laws restricted gambling largely to Native American lands and Nevada's Las Vegas strip up until reasonably recently.<br>
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<br>In the popular creativity, [sports betting](https://tartar.app/read-blog/1715_compare-amp-review-oddsjet-de.html) has long been linked to a 1919 baseball World Series match-fixing scandal.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>States have also been sluggish to legalise many forms of online gaming, in spite of a 2011 Justice Department opinion that appeared to eliminate obstacles.<br>
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<br>While [sports betting](https://origintraffic.com/read-blog/1690_start-off-winning-with-pcg-college-football-picks.html) wagering is usually viewed in its own category, "it plainly stays to be seen whether it gets the type of momentum people believe it will," said Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://micircle.in/read-blog/455_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering guideline.<br>
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<br>David Carruthers is the former president of BetonSports, who was detained in the US in 2006 for running an overseas online sportsbook and served jail time.<br>
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<br>Now a consultant, he says UK firms need to approach the market carefully, picking partners with caution and avoiding bad moves that could cause regulator reaction.<br>
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<br>"This is an opportunity for the American [sports betting](https://social.instinxtreme.com/read-blog/13950_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) bettor ... I'm not sure whether it is a chance for business," he says. "It really depends on the outcome of [state] legislation and how the company operators pursue the chance."<br>
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<br>'It will be partnerships'<br>
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<br>As legalisation begins, [sports betting](http://archmageriseswiki.com/index.php/User:DUSJulie51585042) wagering companies are lobbying to fend off high tax rates, in addition to requests by US [sports betting](https://seenoor.com/read-blog/442_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) leagues, which desire to collect a percentage of earnings as an "stability cost".<br>
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<br>International business face the included difficulty of a powerful existing gaming industry, with casino operators, state-run lottery games and Native American people that are seeking to safeguard their turf.<br>
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<br>Analysts say UK companies will require to strike collaborations, offering their know-how and technology in order to make inroads.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>They indicate SBTech's recent statement that it is offering technology for Kentucky Derby operator Churchill Downs as an example of the type of offers likely to materialise.<br>
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<br>"It will be a win-win for everyone, but it will be partnerships and it will be driven by technology," Mr Hawkley stated.<br>
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<br>'It will just depend'<br>
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<br>Joe Asher, chief executive at William Hill US, is clear-eyed about the realities.<br>
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<br>The business has been investing in the US market because 2011, when it acquired 3 US firms to develop an existence in Nevada.<br>
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<br>William Hill now utilizes about 450 people in the US and has revealed collaborations with casinos in Iowa and New Jersey.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>It works as threat manager for the Delaware Lottery and has invested millions together with a local designer in a New Jersey horse racing track.<br>
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<br>Mr Asher said William Hill has ended up being a household name in Nevada however that's not always the objective everywhere.<br>
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<br>"We certainly mean to have a very considerable brand name presence in New Jersey," he stated. "In other states, it will just depend upon regulation 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://wiki.rrtn.org/wiki/index.php/User:RosalindKeir672) wagering market on the planet," he added. "Obviously that's not going to take place on day one."<br>
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<br>More on this story<br>
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<br>US ruling opens method for [sports betting](https://friendspo.com/read-blog/28364_how-fantasy-betting-app-development-companies-and-sports-developers.html)<br>
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<br>14 May 2018<br>
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<br>Paddy Power purchases fantasy [sports betting](https://learn.ivlc.com/read-blog/61_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) website<br>
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<br>23 May 2018<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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