Add UK Betting Firms Gamble on United States After Sports Wager Ruling
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<br>UK wagering companies gamble on US after [sports betting](https://community.0dte.com/index.php?link1=read-blog&id=4_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wager ruling<br>
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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 reporter, New York<br>
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<br>It's high stakes for UK companies as [sports betting](http://www.seferpanim.com/read-blog/388_for-sports-gambling-to-be-legalised.html) starts to spread in America.<br>
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<br>From Tuesday, new guidelines on [sports betting](https://tartar.app/read-blog/1670_how-to-play-bet9ja-online.html) came into impact in Delaware, a small east coast state about two hours from Washington.<br>
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<br>Neighbouring New Jersey could begin accepting [sports betting](https://fishtanklive.wiki/User:DeniceRidley984) bets as early as Friday.<br>
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<br>The modifications are the first in what might end up being a wave of legalisation after the Supreme Court last month cleared the way for states to allow [sports betting](https://messengerkivu.com/read-blog/2359_how-much-are-americans-investing-in-sports-betting.html) wagering.<br>
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<br>The market sees a "once in a generation" chance to develop a brand-new market in [sports betting](https://www.contraband.ch/read-blog/41793_the-ins-and-outs-of-betting-on-the-nfl-draft.html)-mad America, stated Dublin-based monetary analyst David Jennings, who heads [leisure](http://experienciacortazar.com.ar/wiki/index.php?title=Usuario:RamonWrixon34) research study at Davy.<br>
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<br>For UK companies, which are coming to grips with debt consolidation, increased online competitors and tougher rules from UK regulators, the timing is especially opportune.<br>
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<br>Why the gambling market faces an uncertain future<br>
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<br>How does unlawful [sports betting](https://personal.spaces.one/read-blog/3113_for-sports-gambling-to-be-legalised.html) wagering work and what are the fears?<br>
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<br>But the industry says relying on the US stays a dangerous bet, as UK companies deal with complex state-by-state regulation and competitors from entrenched regional interests.<br>
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<br>"It's something that we're truly concentrating on, but similarly we don't wish to overhype it," stated James Midmer, spokesman at Paddy Power Betfair, which recently [acquired](https://youslade.com/read-blog/41354_things-you-need-to-learn-about-rafting-adventures.html) the US dream [sports betting](https://bigtoc.com/read-blog/8957_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) site FanDuel.<br>
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<br>'Take some time'<br>
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<br>The US represented about 23% of the [world's](https://micircle.in/read-blog/483_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) $244bn (₤ 182bn) in video gaming [revenue](https://naijamatta.com/read-blog/34814_how-are-betting-odds-calculated.html) 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 couple of others from authorising [sports betting](http://wiki.die-karte-bitte.de/index.php/Benutzer_Diskussion:LucaWarby634).<br>
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<br>The ruling discovered the law was an over-reach of federal power. But the court it did not really legalise [sports betting](https://firstamendment.tv/read-blog/72552_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) wagering, leaving that question to regional legislators.<br>
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<br>That is expected to lead to considerable variation in how companies get accredited, where [sports betting](https://www.opentx.cz/index.php/U%C5%BEivatel:VIXAndreas) wagering can happen, and which events are open to speculation - with big ramifications for the size of the marketplace.<br>
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<br>Potential revenue ranges from $4.2 bn to practically $20[bn annually](http://wiki-tb-service.com/index.php?title=Benutzer:Jennifer51X) depending on elements like how lots of states relocate to legalise, Oxford Economics estimated in a 2017 research study for the American Gaming Association.<br>
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<br>"There was a great deal of 'this is going to be huge'", said Will Hawkley, London-based head of leisure for [consultants KPMG](http://video.firstkick.live/read-blog/4647_exploring-the-sports-betting-industry-putting-ideas-into-practice.html).<br>
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<br>Now, he said: "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>[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
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<br>Chris Grove, handling director at Eilers & Krejcik Gaming, predicts that 32 states will legalise [sports betting](https://taar.me/read-blog/8451_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) wagering in some form by 2023, producing a market with about $6bn in yearly revenue.<br>[bet9ja.com](https://landing.bet9ja.com/aviator-bet9ja?btag=yohaig&promocode=yohaig)
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<br>But bookies deal with a far different landscape in America than they perform in the UK, where [sports betting](https://realhindu.in/read-blog/21475_sport-betting-industry-wants-to-protect-itself.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 till relatively recently.<br>
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<br>In the popular imagination, [sports betting](https://chatkc.com/read-blog/519_just-how-much-are-americans-investing-in-sports-betting.html) has long been connected to a 1919 baseball World Series match-fixing scandal.<br>
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<br>States have likewise been sluggish to legalise many kinds of online gaming, regardless of a 2011 Justice Department viewpoint that appeared to eliminate obstacles.<br>
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<br>While [sports betting](https://tartar.app/read-blog/1730_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) is typically seen in its own classification, "it stays to be seen whether it gets the type of momentum individuals believe it will," stated Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://wavedream.wiki/index.php/User:MarylynDuffy) wagering regulation.<br>
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<br>David Carruthers is the former chief executive 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 says UK companies must approach the market thoroughly, picking partners with care and preventing mistakes that might result in regulator reaction.<br>
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<br>"This is an opportunity for the American [sports betting](https://demo.shoudyhosting.com/qtoa/?qa=86959/sports-minister-tracey-crouch-resigns-delay-betting-crackdown) gambler ... I'm not sure whether it is a chance for company," he says. "It actually depends on the result of [state] legislation and how the company 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](http://wiki.faramirfiction.com/index.php?title=User:LeopoldoJiminez) firms are lobbying to fend off high tax rates, along with demands by US [sports betting](https://mixup.wiki/index.php/User:ClydeShakespeare) leagues, which wish to gather a percentage of earnings as an "integrity charge".<br>
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<br>International companies deal with the added challenge of an effective existing gaming industry, with casino operators, state-run lottery games and Native American people that are looking for to safeguard their turf.<br>
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<br>Analysts state UK companies will require to strike partnerships, offering their competence and innovation in order to make inroads.<br>
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<br>They point to SBTech's recent announcement that it is supplying innovation for Kentucky Derby operator Churchill Downs as an example of the type of deals most likely to materialise.<br>
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<br>"It will be a win-win for everyone, but it will be collaborations and it will be driven by innovation," Mr Hawkley stated.<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 truths.<br>
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<br>The company has been purchasing the US market given that 2011, when it bought three US firms to establish a presence in Nevada.<br>
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<br>William Hill now employs 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 manager for the Delaware Lottery and has actually invested millions together with a regional developer in a New Jersey horse racing track.<br>
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<br>Mr Asher said William Hill has become a family name in Nevada but that's not necessarily the goal all over.<br>
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<br>"We certainly intend to have a really significant brand presence in New Jersey," he said. "In other states, it will just depend upon policy and possibly who our local partner is."<br>
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<br>"The US is going to be the biggest [sports betting](https://truthbook.social/read-blog/8702_sport-betting-industry-wants-to-protect-itself.html) market on the planet," he added. "Obviously that's not going to occur 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](http://www.vmeste-so-vsemi.ru/wiki/%D0%A3%D1%87%D0%B0%D1%81%D1%82%D0%BD%D0%B8%D0%BA:AnibalGlockner)<br>
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<br>14 May 2018<br>
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<br>Paddy Power purchases fantasy [sports betting](https://coptr.digipres.org/index.php/User:VioletSpencer44) website<br>
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<br>23 May 2018<br>
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