From c6065277a2ea95fd60472b8e09661204386be629 Mon Sep 17 00:00:00 2001 From: albertina82577 Date: Wed, 1 Jan 2025 20:57:59 +0800 Subject: [PATCH] Add UK Betting Firms Gamble on uS After Sports Wager Ruling --- ...-Gamble-on-uS-After-Sports-Wager-Ruling.md | 51 +++++++++++++++++++ 1 file changed, 51 insertions(+) create mode 100644 UK-Betting-Firms-Gamble-on-uS-After-Sports-Wager-Ruling.md diff --git a/UK-Betting-Firms-Gamble-on-uS-After-Sports-Wager-Ruling.md b/UK-Betting-Firms-Gamble-on-uS-After-Sports-Wager-Ruling.md new file mode 100644 index 0000000..e094451 --- /dev/null +++ b/UK-Betting-Firms-Gamble-on-uS-After-Sports-Wager-Ruling.md @@ -0,0 +1,51 @@ +
UK [sports betting](https://www.jaitun.com/read-blog/15232_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) firms gamble on US after [sports betting](https://app.theremoteinternship.com/read-blog/25820_for-sports-gambling-to-be-legalised.html) wager judgment
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5 June 2018
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
By Natalie Sherman
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Business press reporter, New york city
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It's high stakes for UK firms as [sports betting](https://thefreedommovement.ca/read-blog/19380_how-to-attract-users-to-my-fantasy-sports-platform.html) wagering starts to spread in America.
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From Tuesday, brand-new rules on betting entered into impact in Delaware, a tiny east coast state about two hours from Washington.
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Neighbouring New Jersey could start accepting [sports betting](https://www.miptrucking.net/read-blog/1291_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) bets as early as Friday.
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The changes are the very 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://chatkc.com/read-blog/511_things-you-need-to-understand-about-rafting-adventures.html) wagering.
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The market sees a "when in a generation" opportunity to develop a new market in [sports betting](https://catvcommunity.com.tr/read-blog/4477_things-you-need-to-learn-about-rafting-adventures.html)-mad America, stated Dublin-based monetary Jennings, who heads leisure research at Davy.
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For UK companies, which are facing combination, increased online competition and harder rules from UK regulators, the timing is particularly opportune.
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Why the gambling industry deals with an uncertain future
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How does illegal [sports betting](https://metacouture.co/read-blog/24216_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) work and what are the fears?
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But the market says relying on the US remains a risky bet, as UK companies deal with complicated state-by-state policy and competition from entrenched regional interests.
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"It's something that we're really concentrating on, however equally we don't wish to overhype it," stated James Midmer, spokesman at Paddy Power Betfair, which just recently purchased the US dream [sports betting](http://woorichat.com/read-blog/10305_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) site 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 earnings last year, according to a report by Technavio, external released in January.
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Firms are wishing to tap into more of that activity after last month's decision, which overruled a 1992 federal law that disallowed states beyond Nevada and a couple of others from authorising [sports betting](https://blablasell.com/read-blog/11935_just-how-much-are-americans-investing-in-sports-betting.html).
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The ruling found the law was an over-reach of federal power. But the court it did not in fact legalise [sports betting](https://genzkenya.co.ke/read-blog/105_just-how-much-are-americans-spending-on-sports-betting.html) wagering, leaving that question to local lawmakers.
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That is anticipated to lead to substantial variation in how firms get accredited, where [sports betting](https://taar.me/read-blog/8454_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering can take place, and which occasions are open to speculation - with big implications for the size of the market.
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Potential revenue varieties from $4.2 bn to almost $20bn annually depending on aspects like how lots of states move 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 big'", stated Will Hawkley, London-based head of leisure for specialists KPMG.
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Now, he stated: "I believe a lot of individuals ... are looking 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, anticipates that 32 states will legalise [sports betting](https://farmwoo.com/read-blog/9551_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) wagering in some form by 2023, developing a market with about $6bn in annual revenue.
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But bookmakers face a far various landscape in America than they do in the UK, where wagering stores are a regular sight.
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US laws limited gaming mainly to Native American lands and Nevada's Las Vegas strip until reasonably just recently.
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In the popular creativity, [sports betting](https://www.drawlfest.com/read-blog/13687_things-you-need-to-learn-about-rafting-adventures.html) wagering has long been linked to a 1919 baseball World Series match-fixing scandal.
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States have actually likewise been sluggish to legalise numerous forms of online gambling, regardless of a 2011 Justice Department viewpoint that appeared to remove barriers.
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While [sports betting](https://lovn1world.com/read-blog/2416_for-sports-gambling-to-be-legalised.html) wagering is usually viewed in its own classification, "it clearly stays to be seen whether it gets the type of momentum people think it will," said Keith Miller, law professor at Drake University and co-author of a book about [sports betting](https://pittsburghpenguinsclub.com/read-blog/11584_the-ins-and-outs-of-betting-on-the-nfl-draft.html) guideline.
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David Carruthers is the former president of BetonSports, who was arrested in the US in 2006 for running an overseas online sportsbook and served jail time.
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Now an expert, he states UK companies must approach the market carefully, selecting partners with caution and preventing errors that might result in regulator backlash.
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"This is a chance for the American [sports betting](https://worldsports.pro/read-blog/230_how-much-are-americans-investing-in-sports-betting.html) gambler ... I'm not sure whether it is a chance for business," he states. "It actually depends on the outcome of [state] legislation and how business operators pursue the opportunity."
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'It will be partnerships'
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As legalisation begins, [sports betting](https://wheeoo.com/read-blog/58287_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering companies are lobbying to ward off high tax rates, in addition to demands by US [sports betting](https://youslade.com/read-blog/41433_how-fantasy-betting-app-development-companies-and-sports-developers.html) leagues, which want to gather a portion of income as an "stability charge".
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International business deal with the added difficulty of an effective existing video gaming market, with casino operators, state-run lottos and Native American tribes that are seeking to safeguard their turf.
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Analysts state UK companies will require to strike partnerships, providing their competence and innovation in order to make inroads.
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They indicate SBTech's current statement that it is supplying technology for Kentucky Derby operator Churchill Downs as an example of the kind of offers 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 technology," Mr Hawkley stated.
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
'It will just depend'
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Joe Asher, president at William Hill US, is clear-eyed about the realities.
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The business has been purchasing the US market because 2011, when it purchased 3 US firms to develop an existence in Nevada.
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William Hill now employs about 450 individuals in the US and has actually announced 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 actually ended up being a family name in Nevada but that's not always the objective everywhere.
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"We definitely plan to have a really significant brand name presence in New Jersey," he stated. "In other states, it will just depend upon guideline and possibly who our regional partner is."
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"The US is going to be the greatest [sports betting](https://youfurry.com/read-blog/38005_enhance-your-business-opportunities-with-efficient-sports-apps.html) wagering market worldwide," he included. "Obviously that's not going to happen on the first day."
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More on this story
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US ruling opens way for [sports betting](https://mxlinkin.mimeld.com/read-blog/697_how-much-are-americans-investing-in-sports-betting.html) wagering
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14 May 2018
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
Paddy Power purchases dream [sports betting](https://rca.co.id/read-blog/348_for-sports-gambling-to-be-legalised.html) website
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23 May 2018
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