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UK [sports betting](https://friendify.sbs/read-blog/2351_the-history-of-the-nfl-and-how-to-bank-on-it.html) companies bet on US after [sports betting](https://youslade.com/read-blog/41367_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) wager judgment
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5 June 2018
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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By Natalie Sherman
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Business reporter, New york city
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It's high stakes for UK firms as [sports betting](https://www.hb9lc.org/wiki/index.php/User:SalMoorhouse889) starts to spread in America.
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From Tuesday, brand-new rules on wagering came into effect in Delaware, a tiny east coast state about two hours from Washington.
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Neighbouring New Jersey might start accepting [sports betting](https://forum.subchems.com/read-blog/3859_things-you-need-to-learn-about-rafting-adventures.html) bets as early as Friday.
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The modifications are the first in what might end up being a wave of legalisation after the Supreme Court last month cleared the method for states to enable [sports betting](https://online-learning-initiative.org/wiki/index.php/User:PhillisCurrie8).
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The industry sees a "once in a generation" chance to establish a brand-new market in [sports betting](https://socialsmerch.com/read-blog/10519_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html)-mad America, said Dublin-based monetary expert David Jennings, who heads leisure research study at Davy.
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For UK firms, which are coming to grips with debt consolidation, increased online competition and tougher guidelines from UK regulators, the timing is particularly opportune.
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Why the betting industry faces an uncertain future
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How does unlawful [sports betting](https://wow.t-mobility.co.il/read-blog/14_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering work and what are the fears?
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But the industry says depending on the US remains a dangerous bet, as UK companies face complex state-by-state policy and competitors from established regional interests.
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"It's something that we're really concentrating on, however similarly we don't wish to overhype it," said James Midmer, spokesman at Paddy Power Betfair, which just recently bought the US dream [sports betting](https://www.matesroom.com/read-blog/1217_compare-amp-review-oddsjet-de.html) website FanDuel.
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'Require time'
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The US accounted for about 23% of the world's $244bn (₤ 182bn) in gaming profits in 2015, according to a report by Technavio, external released in January.
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Firms are wanting to tap into more of that activity after last month's decision, which overruled a 1992 federal law that barred states outside of Nevada and a couple of others from authorising [sports betting](https://rca.co.id/read-blog/307_how-much-are-americans-spending-on-sports-betting.html).
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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://bikapsul.com/read-blog/1457_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html), leaving that concern to regional lawmakers.
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That is expected to cause considerable variation in how firms get accredited, where [sports betting](https://droidt99.com/read-blog/6935_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering can happen, and which events are open to speculation - with big implications for the size of the marketplace.
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Potential profits varieties from $4.2 bn to practically $20bn every year depending upon elements like how lots of states transfer to legalise, Oxford Economics approximated 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 consultants KPMG.
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Now, he said: "I think many people ... are taking a look 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 some time'."
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'Remains to be seen"
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Chris Grove, managing director at Eilers & Krejcik Gaming, predicts that 32 states will legalise [sports betting](https://mixup.wiki/index.php/User:LeandroVale2459) in some form by 2023, developing a market with about $6bn in annual earnings.
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But bookmakers deal with a far different landscape in America than they carry out in the UK, where wagering shops are a regular sight.
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US laws limited gambling largely to Native American lands and Nevada's Las Vegas strip up until relatively recently.
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In the popular imagination, [sports betting](https://wiki.vifm.info/index.php/User:BrittYocum5) wagering has actually long been connected to a 1919 baseball World Series match-fixing scandal.
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States have actually likewise been slow to legalise many forms of online gambling, despite a 2011 Justice Department opinion that appeared to get rid of barriers.
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While [sports betting](http://kitsap.whigdev.com/read-blog/3099_how-much-are-americans-investing-in-sports-betting.html) wagering is typically viewed in its own classification, "it clearly stays to be seen whether it gets the type of momentum individuals believe it will," said Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://newyorkcityfcfansclub.com/read-blog/4561_sport-betting-industry-aims-to-protect-itself.html) wagering regulation.
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David Carruthers is the former primary executive of BetonSports, who was jailed in the US in 2006 for running an offshore online sportsbook and served jail time.
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Now an expert, he states UK companies need to approach the market carefully, selecting partners with caution and avoiding missteps that might lead to regulator reaction.
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"This is an opportunity for the American [sports betting](https://swaggspot.com/read-blog/9525_things-you-need-to-understand-about-rafting-adventures.html) bettor ... I'm not exactly sure whether it is an opportunity for organization," he says. "It actually is dependent on the result of [state] legislation and how business operators pursue the opportunity."
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'It will be collaborations'
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As legalisation begins, [sports betting](https://socialsmerch.com/read-blog/10547_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) wagering companies are lobbying to ward off high tax rates, in addition to demands by US [sports betting](https://higgledy-piggledy.xyz/index.php/User:MakaylaTribble) leagues, which want to collect a portion of earnings as an "integrity fee".
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International business face the added obstacle of a powerful existing gaming industry, with gambling establishment operators, state-run lottos and Native American tribes that are looking for to safeguard their grass.
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Analysts state UK firms will require to strike collaborations, offering their knowledge and technology in order to make inroads.
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They indicate SBTech's recent announcement that it is supplying technology for Kentucky Derby operator Churchill Downs as an example of the type of deals most likely to materialise.
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"It will be a win-win for everyone, however it will be partnerships and it will be driven by technology," Mr Hawkley stated.
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'It will simply depend'
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Joe Asher, primary executive at William Hill US, is clear-eyed about the truths.
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The business has been purchasing the US market because 2011, when it acquired three US firms to develop a presence in Nevada.
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William Hill now utilizes 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 risk manager for the Delaware Lottery and has actually invested millions along with a regional developer in a New Jersey horse racing track.
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Mr Asher said William Hill has actually become a family name in Nevada however that's not necessarily the objective all over.
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"We certainly intend to have an extremely significant brand name in New Jersey," he stated. "In other states, it will just depend upon policy and possibly who our regional partner is."
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"The US is going to be the most significant [sports betting](https://aladin.social/read-blog/61420_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering market in the world," he included. "Obviously that's not going to take place on day one."
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More on this story
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US ruling opens method for [sports betting](https://blablasell.com/read-blog/11900_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html)
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14 May 2018
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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Paddy Power buys fantasy [sports betting](https://www.grandtribunal.org/wiki/User:JanelleTitheradg) site
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23 May 2018
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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