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<br>UK [sports betting](https://www.buzzgate.net/read-blog/495_for-sports-gambling-to-be-legalised.html) companies bet on US after [sports betting](https://pittsburghpenguinsclub.com/read-blog/11584_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wager ruling<br>
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<br>5 June 2018<br>
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<br>It's high stakes for UK firms as [sports betting](https://maxmeet.ru/read-blog/107_tennessee-sports-betting-top-4-legal-betting-sites-in-2024) wagering starts to spread in America.<br>
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<br>From Tuesday, new rules on wagering entered into effect in Delaware, a small east coast state about two hours from Washington.<br>
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<br>Neighbouring New Jersey could start accepting [sports betting](https://wiki.fablabbcn.org/User:Skye9268038) bets as early as Friday.<br>
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<br>The changes are the very first in what could end up being a wave of legalisation after the Supreme Court last month cleared the way for states to permit [sports betting](https://bigtoc.com/read-blog/8973_for-sports-gambling-to-be-legalised.html).<br>
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<br>The market sees a "once in a generation" chance to establish a new market in [sports betting](https://profesional.id/read-blog/131_sport-betting-industry-aims-to-protect-itself.html)-mad America, stated Dublin-based monetary expert David Jennings, who heads leisure research at Davy.<br>
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<br>For UK companies, which are coming to grips with consolidation, increased online competition and tougher rules from UK regulators, the timing is particularly appropriate.<br>
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<br>Why the [sports betting](https://comunidadebrasilbr.com/read-blog/14256_for-sports-gambling-to-be-legalised.html) industry deals with an unsure future<br>
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<br>How does illegal [sports betting](https://nbc.co.uk/read-blog/25_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) wagering work and what are the fears?<br>
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<br>But the market states relying on the US remains a risky bet, as UK business face [complicated](https://sotawiki.net/sota/User:HilarioNxy) state-by-state policy and competitors from established local interests.<br>
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<br>"It's something that we're really concentrating on, but similarly we do not desire to overhype it," stated James Midmer, [representative](https://birdiey.com/read-blog/502_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) at Paddy Power Betfair, which recently bought the US dream [sports betting](https://wiki.ragnaworld.net/index.php?title=User:DyanBou493663) 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 profits last year, according to a report by Technavio, external published in January.<br>
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<br>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 few others from [authorising](https://pipewiki.org/wiki/index.php/User:Lemuel8854) [sports betting](https://kiigasofthub.com/read-blog/10095_the-history-of-the-nfl-and-how-to-bank-on-it.html) 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://gazanour.com/read-blog/7901_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering, leaving that question to local legislators.<br>
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<br>That is expected to lead to significant variation in how firms get certified, where [sports betting](https://gamehiker.com/wiki/index.php/User:JWSNoe0456093) 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 profits varieties from $4.2 bn to almost $20bn annually depending on factors like the number of states move to legalise, Oxford Economics approximated in a 2017 study for the American Gaming Association.<br>
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<br>"There was a great deal of 'this is going to be substantial'", said Will Hawkley, London-based head of leisure for specialists KPMG.<br>
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<br>Now, he stated: "I believe many people ... are taking a look 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>
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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](http://kitsap.whigdev.com/read-blog/3104_online-betting-firms-gamble-on-soccer-mad-nigeria.html) in some form by 2023, creating 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 bookies face a far different landscape in America than they do in the UK, where wagering shops are a frequent sight.<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>US laws limited gaming mostly to Native American lands and Nevada's Las Vegas strip up until relatively recently.<br>
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<br>In the popular creativity, [sports betting](https://philadelphiaflyersclub.com/read-blog/8449_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) wagering has long been linked to a 1919 baseball World Series match-fixing scandal.<br>
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<br>States have also been sluggish to legalise many types of online [sports betting](https://tartar.app/read-blog/1723_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html), despite a 2011 Justice Department viewpoint that appeared to remove challenges.<br>
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<br>While [sports betting](https://taar.me/read-blog/8463_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) is generally viewed in its own classification, "it clearly remains to be seen whether it gets the sort of momentum people believe it will," said Keith Miller, law professor at Drake University and co-author of a book about [sports betting](https://octomo.co.uk/read-blog/6522_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) wagering 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 a specialist, he states UK firms must approach the marketplace carefully, picking partners with caution and avoiding mistakes that might lead to regulator backlash.<br>
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<br>"This is an opportunity for the American [sports betting](https://www.hb9lc.org/wiki/index.php/User:ShawnaLigertwood) bettor ... I'm uncertain whether it is a chance for business," he says. "It truly is dependent 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>
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<br>As legalisation begins, [sports betting](https://ai.holiday/read-blog/12054_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) firms are lobbying to fend off high tax rates, in addition to demands by US [sports betting](http://1600-6765.com/board_fyUJ95/190822) leagues, which desire to collect a percentage of revenue as an "stability charge".<br>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>International business deal with the added obstacle of an effective existing video gaming industry, with gambling establishment operators, state-run lottery games and Native American tribes that are looking for to defend their grass.<br>
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<br>Analysts say UK firms will require to strike partnerships, offering their proficiency and technology in order to make inroads.<br>
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<br>They indicate SBTech's current announcement that it is offering 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 everyone, however it will be collaborations and it will be driven by technology," Mr Hawkley said.<br>
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<br>'It will just depend'<br>
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<br>Joe Asher, president at William Hill US, is clear-eyed about the truths.<br>
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<br>The business has been investing in the US market considering that 2011, when it acquired 3 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 announced collaborations with gambling establishments in Iowa and New Jersey.<br>
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<br>It works as threat supervisor for the Delaware Lottery and has invested millions alongside 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 family name in Nevada but that's not always the goal all over.<br>
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<br>"We definitely mean to have a really considerable brand name existence in New Jersey," he said. "In other states, it will simply depend upon [guideline](https://ekotur.online/sports-betting/the-history-of-the-nfl-and-how-to-bet-on-it/) and potentially who our is."<br>
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<br>"The US is going to be the most significant [sports betting](http://titotit.com/xe/?document_srl=813728) market worldwide," he included. "Obviously that's not going to happen on day one."<br>
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<br>US ruling opens method for [sports betting](https://swaggspot.com/read-blog/9687_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html)<br>
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