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[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)<br>UK wagering companies bet on US after [sports betting](https://wow.twinear.com/read-blog/988_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) wager judgment<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) |
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<br>5 June 2018<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) |
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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://youslade.com/read-blog/41398_enhance-your-business-opportunities-with-efficient-sports-apps.html) wagering starts to spread in America.<br> |
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<br>From Tuesday, new rules on wagering entered result in Delaware, a small east coast state about 2 hours from Washington.<br> |
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<br>Neighbouring New Jersey might begin accepting [sports betting](https://blkbook.blactive.com/read-blog/2314_how-to-play-bet9ja-online.html) bets as early as Friday.<br> |
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<br>The changes are the first in what could end up being a wave of legalisation after the Supreme Court last month cleared the way for states to enable [sports betting](https://youtoosocialnetwork.com/read-blog/1288_how-to-attract-users-to-my-fantasy-sports-platform.html) wagering.<br> |
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<br>The industry sees a "once in a generation" chance to establish a brand-new market in [sports betting](https://pittsburghpenguinsclub.com/read-blog/11536_sport-betting-industry-looks-to-protect-itself.html)-mad America, stated Dublin-based monetary Jennings, who heads leisure research at Davy.<br> |
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<br>For UK companies, which are coming to grips with combination, increased online competition and harder guidelines from UK regulators, the timing is particularly opportune.<br> |
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<br>Why the betting market deals with an uncertain future<br> |
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<br>How does unlawful [sports betting](https://olps.co.za/wiki/User:EarlParedes) work and what are the worries?<br> |
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<br>But the market states depending on the US stays a risky bet, as UK companies face complicated state-by-state guideline and competition from entrenched regional interests.<br> |
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<br>"It's something that we're actually focusing on, however equally we do not wish to overhype it," said James Midmer, spokesperson at Paddy Power Betfair, which just recently bought the US dream [sports betting](https://thewion.com/read-blog/184752_sport-betting-industry-seeks-to-protect-itself.html) site FanDuel.<br> |
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<br>'Take time'<br> |
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<br>The US represented about 23% of the world's $244bn (₤ 182bn) in gaming income in 2015, 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 disallowed states outside of Nevada and a few others from authorising [sports betting](https://parentingliteracy.com/wiki/index.php/User:CooperAuld992) 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 in fact legalise [sports betting](https://www.yewiki.org/User:DrewRayford) wagering, leaving that concern to regional legislators.<br> |
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<br>That is anticipated to lead to substantial variation in how firms get certified, where [sports betting](https://wow.t-mobility.co.il/read-blog/14_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) can take place, and which occasions are open to speculation - with huge implications for the size of the market.<br> |
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<br>Potential earnings ranges from $4.2 bn to nearly $20bn each year depending upon elements like the number of states transfer to legalise, Oxford Economics estimated 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'", stated Will Hawkley, London-based head of leisure for consultants KPMG.<br> |
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<br>Now, he stated: "I believe many people ... are taking a look at this as, 'it's a chance but it's not going to be $20bn and it's going to be state by state and it's going to require time'."<br> |
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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://mysuccessdarpan.com/read-blog/12326_enhance-your-business-opportunities-with-efficient-sports-apps.html) wagering in some form by 2023, producing a market with about $6bn in yearly profits.<br> |
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<br>But bookmakers deal with a far various landscape in America than they carry out in the UK, where [sports betting](https://messengerkivu.com/read-blog/2359_how-much-are-americans-investing-in-sports-betting.html) shops are a frequent sight.<br> |
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<br>US laws restricted gambling largely to Native American lands and Nevada's Las Vegas strip up until fairly just recently.<br> |
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<br>In the popular creativity, [sports betting](https://coptr.digipres.org/index.php/User:VioletSpencer44) has actually long been connected to a 1919 baseball World Series match-fixing scandal.<br> |
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<br>States have actually also been sluggish to legalise lots of kinds of online betting, regardless of a 2011 Justice Department viewpoint that appeared to get rid of barriers.<br> |
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<br>While [sports betting](https://munidigital.iie.cl/wiki/index.php?title=Usuario:Mel38553353705) is normally viewed in its own category, "it clearly remains to be seen whether it gets the sort of momentum individuals believe it will," stated Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://grade1d.smaportal.ae/read-blog/2418_how-to-withdraw-from-bet9ja-8-step-guide-to-cash-in-your-wins.html) wagering policy.<br> |
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<br>David Carruthers is the former president of BetonSports, who was jailed in the US in 2006 for running an offshore online sportsbook and served prison time.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) |
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<br>Now an expert, he states UK companies must approach the market carefully, picking partners with care and preventing missteps that could cause regulator backlash.<br> |
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<br>"This is an opportunity for the American [sports betting](https://sfqatest.sociofans.com/read-blog/647_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagerer ... I'm not exactly sure whether it is a chance for company," he says. "It actually depends on the result of [state] legislation and how the organization operators pursue the opportunity."<br> |
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<br>'It will be collaborations'<br> |
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<br>As legalisation starts, [sports betting](https://wiki.vifm.info/index.php/User:LorrieCorser) companies are lobbying to ward off high tax rates, as well as requests by US [sports betting](https://surgiteams.com/index.php/User:WileyDunham) leagues, which want to collect a percentage of earnings as an "stability cost".<br> |
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<br>International companies face the added difficulty of an effective existing video gaming industry, with gambling establishment operators, state-run lotteries and Native American tribes that are seeking to protect their turf.<br> |
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<br>Analysts state UK companies will require to strike partnerships, providing their knowledge and technology in order to make inroads.<br> |
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<br>They indicate SBTech's recent announcement that it is supplying innovation for Kentucky Derby operator Churchill Downs as an example of the type of offers most likely to materialise.<br> |
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<br>"It will be a win-win for everybody, however it will be partnerships and it will be driven by innovation," Mr Hawkley said.<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 actually been investing in the US market since 2011, when it bought three US firms to establish an existence in Nevada.<br> |
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<br>William Hill now uses about 450 individuals in the US and has actually revealed partnerships 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 together with a local developer in a New Jersey horse racing track.<br> |
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<br>Mr Asher said William Hill has ended up being a home name in Nevada but that's not always the goal everywhere.<br> |
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<br>"We definitely intend to have a very considerable brand name existence in New Jersey," he stated. "In other states, it will just depend upon guideline 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://woodsrunners.com/index.php/User:CathrynL43) market in the world," he included. "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 way for [sports betting](https://lubuzz.com/read-blog/109_online-betting-firms-gamble-on-soccer-mad-nigeria.html) wagering<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 fantasy [sports betting](https://forum.subchems.com/read-blog/3820_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) website<br> |
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<br>23 May 2018<br>[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) |
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