Add UK Betting Firms Gamble on United States After Sports Wager Ruling
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<br>UK betting firms gamble on US after [sports betting](https://twixxor.com/read-blog/8917_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wager ruling<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 press reporter, New York<br>
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<br>It's high stakes for UK firms as [sports betting](https://www.grandtribunal.org/wiki/User:JoseCho48049165) starts to spread in America.<br>
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<br>From Tuesday, new rules on [sports betting](https://mxlinkin.mimeld.com/read-blog/657_online-betting-firms-gamble-on-soccer-mad-nigeria.html) came into impact in Delaware, a tiny east coast state about two hours from Washington.<br>
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<br>Neighbouring New Jersey could begin accepting [sports betting](https://vybz.live/read-blog/2381_how-to-play-bet9ja-online.html) bets as early as Friday.<br>
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<br>The modifications are the very first in what could end up being a wave of legalisation after the Supreme Court last month cleared the method for states to enable [sports betting](https://mgnm.uk/read-blog/3106_just-how-much-are-americans-investing-in-sports-betting.html) wagering.<br>
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<br>The market sees a "as soon as in a generation" chance to develop a new market in [sports betting](https://mixup.wiki/index.php/User:MarleneCall)-mad America, stated Dublin-based financial expert David Jennings, who heads leisure research at Davy.<br>
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<br>For UK companies, which are grappling with consolidation, increased online competition and harder guidelines from UK regulators, the timing is particularly opportune.<br>
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<br>Why the gambling industry faces an uncertain future<br>
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<br>How does prohibited [sports betting](https://blablasell.com/read-blog/12005_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering work and what are the fears?<br>
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<br>But the industry says counting on the US remains a risky bet, as UK business face complex state-by-state policy and competition from entrenched local interests.<br>
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<br>"It's something that we're truly concentrating on, however equally we don't want to overhype it," stated James Midmer, spokesman at Paddy Power Betfair, which recently acquired the US dream [sports betting](https://camlive.ovh/read-blog/2329_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) website FanDuel.<br>
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<br>'Require time'<br>
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<br>The US accounted for about 23% of the world's $244bn (₤ 182bn) in video gaming profits last year, according to a report by Technavio, external released in January.<br>
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<br>Firms are hoping to tap into more of that activity after last month's choice, which overruled a 1992 federal law that barred states outside of Nevada and a couple of others from authorising [sports betting](https://wiki.tld-wars.space/index.php/Utilisateur:EveretteCuller) wagering.<br>
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<br>The judgment discovered the law was an over-reach of federal power. But the court it did not really legalise [sports betting](https://jamboz.com/read-blog/181_the-ins-and-outs-of-betting-on-the-nfl-draft.html), leaving that concern to regional legislators.<br>
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<br>That is expected to result in substantial variation in how firms get certified, where [sports betting](https://sundaycareers.com/read-blog/2640_why-every-cricket-fan-should-try-the-all-cricket-id-gaming-platform.html) wagering can occur, and which events are open to speculation - with big implications for the size of the marketplace.<br>
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<br>Potential income ranges from $4.2 bn to almost $20bn each year depending on elements like how many states relocate to legalise, Oxford Economics approximated in a 2017 research study for the American Gaming Association.<br>
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<br>"There was a great deal of 'this is going to be big'", stated Will Hawkley, London-based head of for consultants KPMG.<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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<br>Now, he said: "I believe most 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, handling director at Eilers & Krejcik Gaming, forecasts that 32 states will legalise [sports betting](https://comunidadebrasilbr.com/read-blog/12599_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) in some type by 2023, developing a market with about $6bn in yearly revenue.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>But bookmakers deal with a far different landscape in America than they do in the UK, where wagering shops are a regular sight.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>US laws minimal gambling largely to Native American lands and Nevada's Las Vegas strip until fairly just recently.<br>
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<br>In the popular imagination, [sports betting](https://demo.wowonderstudio.com/read-blog/2536_how-much-are-americans-investing-in-sports-betting.html) has actually long been connected to a 1919 baseball World Series match-fixing scandal.<br>
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<br>States have likewise been slow to legalise numerous forms of online betting, in spite of a 2011 Justice Department viewpoint that appeared to remove obstacles.<br>
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<br>While [sports betting](https://miderde.de/index.php?title=Benutzer:VeronaCjk705) wagering is normally viewed in its own classification, "it plainly remains to be seen whether it gets the kind of momentum people believe it will," stated Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://moonifie.com/read-blog/1403_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) guideline.<br>
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<br>David Carruthers is the previous president of BetonSports, who was arrested in the US in 2006 for running an offshore online sportsbook and served prison time.<br>
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<br>Now an expert, he states UK firms must approach the market thoroughly, picking partners with care and preventing bad moves that could lead to regulator backlash.<br>
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<br>"This is a chance for the American [sports betting](https://moonifie.com/read-blog/1403_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) gambler ... I'm uncertain whether it is a chance for business," he states. "It really depends on the result of [state] legislation and how the business operators pursue the chance."<br>
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<br>'It will be collaborations'<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>As legalisation starts, [sports betting](https://younivix.com/read-blog/29902_the-ins-and-outs-of-betting-on-the-nfl-draft.html) firms are lobbying to ward off high tax rates, as well as demands by US [sports betting](https://surgiteams.com/index.php/User:GertrudeFishman) leagues, which wish to gather a portion of income as an "stability cost".<br>
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<br>International business face the added challenge of an effective existing gaming market, with gambling establishment operators, state-run lottery games and Native American people that are looking for to defend their grass.<br>
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<br>Analysts state UK firms will require to strike partnerships, offering their knowledge and technology in order to make inroads.<br>
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<br>They indicate SBTech's recent statement that it is providing technology 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 everybody, however 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 realities.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>The business has actually been buying the US market considering that 2011, when it acquired three US companies to establish a presence in Nevada.<br>
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<br>William Hill now employs about 450 individuals in the US and has actually announced collaborations with casinos in Iowa and New Jersey.<br>
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<br>It works as risk manager for the Delaware Lottery and has invested millions alongside a local designer in a New Jersey horse racing track.<br>
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<br>Mr Asher stated William Hill has actually become a home name in Nevada but that's not necessarily the goal all over.<br>
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<br>"We certainly intend to have a really significant brand name existence in New Jersey," he stated. "In other states, it will simply depend on policy and potentially who our local partner is."<br>
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<br>"The US is going to be the most significant [sports betting](https://olps.co.za/wiki/User:EarlParedes) wagering market in the world," he added. "Obviously that's not going to happen on the first day."<br>
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<br>More on this story<br>
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<br>US judgment opens method for [sports betting](https://miderde.de/index.php?title=Benutzer:JacquieHorsley4) wagering<br>
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<br>14 May 2018<br>
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<br>Paddy Power buys fantasy [sports betting](https://social.instinxtreme.com/read-blog/14247_the-ins-and-outs-of-betting-on-the-nfl-draft.html) website<br>
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<br>23 May 2018<br>
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