commit ccd8220de2b0d0d56692856e5ed8a81d2d8cb887 Author: gabrielasizer Date: Thu Jan 2 10:22:30 2025 +0000 Add UK Betting Firms Gamble on United States After Sports Wager Ruling diff --git a/UK-Betting-Firms-Gamble-on-United-States-After-Sports-Wager-Ruling.md b/UK-Betting-Firms-Gamble-on-United-States-After-Sports-Wager-Ruling.md new file mode 100644 index 0000000..5815d62 --- /dev/null +++ b/UK-Betting-Firms-Gamble-on-United-States-After-Sports-Wager-Ruling.md @@ -0,0 +1,45 @@ +[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
UK wagering firms bet on US after [sports betting](https://micircle.in/read-blog/674_just-how-much-are-americans-spending-on-sports-betting.html) wager judgment
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
5 June 2018
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
It's high stakes for UK companies as [sports betting](https://embargo.energy/index.php/User:NanceeThigpen16) wagering starts to spread in America.
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From Tuesday, brand-new guidelines on [sports betting](https://iuridictum.pecina.cz/w/U%C5%BEivatel:BreannaCollette) entered into result in Delaware, a small east coast state about 2 hours from Washington.
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[Neighbouring](https://ask.onekeeitsolutions.com/index.php?qa=100967&qa_1=for-sports-gambling-to-be-legalised) New Jersey might begin accepting [sports betting](https://myquora.myslns.com/index.php?qa=40511&qa_1=betting-firms-gamble-united-states-after-sports-wager-ruling) bets as early as Friday.
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The modifications are the very first in what might end up being a wave of legalisation after the Supreme Court last month cleared the method for states to permit [sports betting](http://africa2063.iambrandsdev.com/read-blog/6491_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html).
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The industry sees a "once in a generation" opportunity to develop a new market in [sports betting](https://reckoningz.com/sweepstakes-casino-controversy-and-celebrities-all-important-role-3/)-mad America, stated Dublin-based monetary expert David Jennings, who heads leisure research at Davy.
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For UK companies, which are facing debt consolidation, increased online competitors and harder rules from UK regulators, the timing is especially suitable.
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Why the [sports betting](https://www.amedaychats.com/read-blog/871_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) industry deals with an uncertain future
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How does unlawful [sports betting](https://bexopro.com/read-blog/2842_how-much-are-americans-investing-in-sports-betting.html) work and what are the fears?
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But the market states counting on the US remains a dangerous bet, as UK business face complex state-by-state regulation and competitors from established regional interests.
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"It's something that we're actually focusing on, but equally we do not desire to overhype it," said James Midmer, spokesperson at Paddy Power Betfair, which just recently purchased the US fantasy [sports betting](https://jamboz.com/read-blog/142_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) website FanDuel.
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'Take some time'
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The US accounted for about 23% of the world's $244bn (₤ 182bn) in gaming profits last year, according to a report by Technavio, external published in January.
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Firms are hoping to take advantage of more of that activity after last month's decision, which struck down a 1992 federal law that barred states beyond Nevada and a few others from authorising [sports betting](http://woorichat.com/read-blog/10295_sport-betting-industry-wants-to-protect-itself.html) wagering.
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The judgment 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=100967&qa_1=for-sports-gambling-to-be-legalised) wagering, leaving that question to local legislators.
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That is to result in substantial variation in how companies get licensed, where [sports betting](https://www.miptrucking.net/read-blog/1281_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering can happen, and which occasions are open to speculation - with big ramifications for the size of the marketplace.
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Potential income ranges from $4.2 bn to practically $20bn each year depending upon factors like the number of states move to legalise, Oxford Economics estimated in a 2017 study for the American Gaming Association.
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"There was a great deal of 'this is going to be substantial'", stated Will Hawkley, London-based head of leisure for specialists KPMG.
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Now, he said: "I believe the majority of individuals ... 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'."
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['Remains](https://miderde.de/index.php?title=Benutzer:InezHairston0) to be seen"
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Chris Grove, managing director at Eilers & Krejcik Gaming, predicts that 32 states will legalise [sports betting](https://comunidadebrasilbr.com/read-blog/12553_for-sports-gambling-to-be-legalised.html) wagering in some kind by 2023, producing a market with about $6bn in annual revenue.
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But bookies face a far various landscape in America than they carry out in the UK, where wagering stores are a frequent sight.
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US laws minimal [sports betting](https://wavedream.wiki/index.php/User:KandisFrankfurte) mostly to Native American lands and Nevada's Las Vegas strip till fairly recently.
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In the popular imagination, [sports betting](https://aceme.ink/read-blog/1663_missouri-sports-betting-ballot-measure-approved-by-voters.html) wagering has actually long been linked to a 1919 baseball World Series match-fixing scandal.
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States have actually also been slow to legalise numerous types of online gambling, regardless of a 2011 Justice Department opinion that appeared to get rid of challenges.
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While [sports betting](https://we2chat.net/read-blog/26327_sport-betting-industry-seeks-to-protect-itself.html) is normally seen in its own classification, "it plainly remains to be seen whether it gets the type of momentum people think it will," said Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://mgnm.uk/read-blog/3122_missouri-sports-betting-ballot-measure-approved-by-voters.html) guideline.
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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.
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Now a consultant, he says UK firms should approach the market thoroughly, picking partners with care and avoiding mistakes that might result in regulator reaction.
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"This is an opportunity for the American [sports betting](https://mgnm.uk/read-blog/3125_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) gambler ... I'm uncertain whether it is an opportunity for business," he says. "It truly is reliant on the result of [state] legislation and how business operators pursue the chance."
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'It will be partnerships'
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As legalisation begins, [sports betting](https://juryi.sn/read-blog/12014_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) wagering companies are lobbying to ward off high tax rates, in addition to requests by US [sports betting](https://moonifie.com/read-blog/1406_sport-betting-industry-looks-to-protect-itself.html) leagues, which desire to collect a percentage of profits as an "integrity fee".
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International companies face the added challenge of a powerful existing video gaming market, with gambling establishment operators, state-run lottery games and Native American people that are looking for to protect their grass.
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Analysts state UK firms will require to strike collaborations, providing their competence and technology in order to make inroads.
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They point to SBTech's recent statement that it is offering technology for Kentucky Derby operator Churchill Downs as an example of the kind of offers most likely to materialise.
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"It will be a win-win for everybody, however it will be partnerships and it will be driven by innovation," Mr Hawkley said.
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'It will just depend'
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Joe Asher, primary executive at William Hill US, is clear-eyed about the realities.
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The company has actually been purchasing the US market given that 2011, when it acquired three US companies to develop a presence in Nevada.
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William Hill now employs about 450 people in the US and has revealed partnerships with gambling establishments in Iowa and New Jersey.
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It works as danger supervisor for the Delaware Lottery and has invested millions alongside a local developer in a New Jersey horse racing track.
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Mr Asher stated William Hill has ended up being a family name in Nevada but that's not always the objective everywhere.
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"We certainly intend to have an extremely significant brand name existence in New Jersey," he said. "In other states, it will just depend upon regulation and potentially who our regional partner is."
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"The US is going to be the most significant [sports betting](https://oolibuzz.com/read-blog/41601_online-betting-firms-gamble-on-soccer-mad-nigeria.html) wagering market in the world," he added. "Obviously that's not going to occur on day one."
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US ruling opens method for [sports betting](https://www.matesroom.com/read-blog/1221_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html)
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