Add UK Betting Firms Gamble on United States After Sports Wager Ruling
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<br>UK wagering [firms bet](https://d9talks.site/read-blog/1219_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) on US after [sports betting](https://blkbook.blactive.com/read-blog/2317_how-much-are-americans-investing-in-sports-betting.html) wager ruling<br>
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<br>5 June 2018<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>By Natalie Sherman<br>
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<br>Business reporter, New York<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>It's high stakes for UK firms as [sports betting](https://truthbook.social/read-blog/8702_sport-betting-industry-wants-to-protect-itself.html) starts to spread in America.<br>
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<br>From Tuesday, brand-new rules on [sports betting](https://voggisper.com/read-blog/1219_just-how-much-are-americans-investing-in-sports-betting.html) came into effect in Delaware, a tiny east coast state about 2 hours from Washington.<br>
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<br>[Neighbouring](http://www.engel-und-waisen.de/index.php/Benutzer:LudieJanzen7458) New Jersey could start accepting [sports betting](http://it-viking.ch/index.php/User:FeliciaMeares) bets as early as Friday.<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
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<br>The modifications are the first in what could become a wave of legalisation after the Supreme Court last month cleared the method for states to permit [sports betting](http://wiki.die-karte-bitte.de/index.php/Benutzer_Diskussion:Ferne21429689) wagering.<br>
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<br>The market sees a "once in a generation" opportunity to establish a new market in [sports betting](https://palkwall.com/read-blog/27696_the-history-of-the-nfl-and-how-to-bank-on-it.html)-mad America, stated Dublin-based financial analyst David Jennings, who heads leisure research study at Davy.<br>
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<br>For UK firms, which are coming to grips with consolidation, increased online competition and harder rules from UK regulators, the timing is especially appropriate.<br>
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<br>Why the gambling industry deals with an [unpredictable](https://islider.ru/read-blog/39126_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) future<br>
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<br>How does [sports betting](https://www.grandtribunal.org/wiki/User:BerryLovejoy82) work and what are the fears?<br>
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<br>But the industry states counting on the US stays a risky bet, as UK companies face complex state-by-state policy and competition from established regional 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, spokesperson at Paddy Power Betfair, which just recently purchased the US fantasy [sports betting](https://infosocial.top/read-blog/4022_how-to-play-bet9ja-online.html) [site FanDuel](https://taar.me/read-blog/8475_how-much-are-americans-spending-on-sports-betting.html).<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>'Take some time'<br>
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<br>The US represented about 23% of the world's $244bn (₤ 182bn) in gaming income last year, according to a report by Technavio, external released in January.<br>
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<br>Firms are wishing to tap into more of that activity after last month's choice, which struck down a 1992 federal law that barred states outside of Nevada and a few others from authorising [sports betting](https://www.hb9lc.org/wiki/index.php/User:BrigitteRegalado) wagering.<br>
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<br>The ruling found the law was an over-reach of federal power. But the court it did not in fact legalise [sports betting](https://ask.onekeeitsolutions.com/index.php?qa=86524&qa_1=begin-winning-with-pcg-college-football-picks), leaving that concern to local legislators.<br>
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<br>That is expected to cause considerable variation in how firms get certified, where [sports betting](https://wow.t-mobility.co.il/read-blog/21_how-to-attract-users-to-my-fantasy-sports-platform.html) wagering can occur, and which events are open to speculation - with huge implications for the size of the marketplace.<br>
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<br>Potential profits ranges from $4.2 bn to nearly $20bn each year depending upon factors like the number of states move to legalise, Oxford Economics [approximated](https://friends.win/read-blog/20754_how-are-betting-odds-calculated.html) in a 2017 study for the American Gaming Association.<br>
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<br>"There was a lot of 'this is going to be huge'", said Will Hawkley, London-based head of leisure for specialists KPMG.<br>
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<br>Now, he stated: "I think the majority of people ... are taking a look at this as, 'it's a chance 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, handling director at Eilers & Krejcik Gaming, anticipates that 32 states will legalise [sports betting](https://www.opentx.cz/index.php/U%C5%BEivatel:LoreenDidomenico) in some type by 2023, producing a market with about $6bn in yearly earnings.<br>
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<br>But bookies face a far various landscape in America than they perform in the UK, where wagering stores are a frequent sight.<br>
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<br>US laws minimal gaming mainly to Native American lands and Nevada's Las Vegas strip up until reasonably just recently.<br>
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<br>In the popular imagination, [sports betting](https://gamehiker.com/wiki/index.php/User:CharlaPrewitt87) wagering has actually long been linked to a 1919 baseball World Series match-fixing scandal.<br>
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<br>States have actually also been slow to legalise lots of kinds of online [sports betting](https://projectblueberryserver.com/index.php/User:OYSPiper1287), regardless of a 2011 Justice Department viewpoint that appeared to get rid of challenges.<br>
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<br>While [sports betting](https://squishmallowswiki.com/index.php/User:RichCallaghan80) is typically viewed in its own category, "it [plainly](http://yijichain.com/read-blog/15123_enhance-your-business-opportunities-with-efficient-sports-apps.html) remains to be seen whether it gets the kind of momentum individuals think it will," stated Keith Miller, law professor at Drake University and co-author of a book about [sports betting](http://wiki.faramirfiction.com/index.php?title=User:Giuseppe38K) regulation.<br>
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<br>David Carruthers is the previous president 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 states UK companies should approach the market thoroughly, picking partners with care and avoiding bad moves that could result in regulator reaction.<br>
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<br>"This is an opportunity for the American [sports betting](https://droidt99.com/read-blog/7342_online-betting-firms-gamble-on-soccer-mad-nigeria.html) wagerer ... I'm not exactly sure whether it is an opportunity for business," he states. "It really is dependent on the outcome of [state] legislation and how business operators pursue the chance."<br>
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<br>'It will be partnerships'<br>
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<br>As legalisation starts, [sports betting](https://wavedream.wiki/index.php/User:Jacelyn3760) wagering firms are lobbying to fend off high tax rates, along with demands by US [sports betting](https://mxlinkin.mimeld.com/read-blog/698_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) leagues, which desire to gather a portion of revenue as an "stability charge".<br>
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<br>International business face the included challenge of an effective existing video gaming market, with casino operators, state-run lotteries and Native American tribes that are seeking to safeguard their turf.<br>
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<br>Analysts state UK firms will need to strike collaborations, providing their expertise and innovation in order to make inroads.<br>
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<br>They point to SBTech's current statement that it is supplying 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 said.<br>
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<br>'It will simply 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 company has been purchasing the US market given that 2011, when it purchased 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 revealed partnerships with casinos in Iowa and New Jersey.<br>
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<br>It works as risk supervisor for the Delaware Lottery and has actually invested millions together with 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 however that's not always the objective all over.<br>
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<br>"We certainly plan to have a very substantial brand existence in New Jersey," he said. "In other states, it will simply depend upon guideline and possibly who our local partner is."<br>
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<br>"The US is going to be the most significant [sports betting](https://uptoscreen.com/read-blog/74240_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) market in the world," he added. "Obviously that's not going to occur on the first day."<br>
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<br>More on this story<br>
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<br>US judgment opens way for [sports betting](https://afrocinema.org/read-blog/42291_how-to-withdraw-from-bet9ja-8-step-guide-to-cash-in-your-wins.html)<br>
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<br>14 May 2018<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>Paddy Power purchases dream [sports betting](https://truthbook.social/read-blog/8423_missouri-sports-betting-ballot-measure-approved-by-voters.html) site<br>
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<br>23 May 2018<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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