commit 22b4f59ef8f000d51c8d7851659e8cbc11c1f994 Author: raymundochataw Date: Wed Jan 1 09:24:57 2025 +0800 Add UK Betting Firms Gamble on uS After Sports Wager Ruling 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..8e6bfaa --- /dev/null +++ b/UK-Betting-Firms-Gamble-on-uS-After-Sports-Wager-Ruling.md @@ -0,0 +1,51 @@ +
UK [sports betting](https://wow.twinear.com/read-blog/988_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) companies bet on US after [sports betting](https://cheere.org/read-blog/36300_the-history-of-the-nfl-and-how-to-bank-on-it.html) wager judgment
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
5 June 2018
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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://gigen.net/read-blog/18_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) starts to spread out in America.
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From Tuesday, brand-new guidelines on [sports betting](https://bigtoc.com/read-blog/8944_the-ins-and-outs-of-betting-on-the-nfl-draft.html) came into result in Delaware, a tiny east coast state about 2 hours from Washington.
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New Jersey could start accepting [sports betting](https://aceme.ink/read-blog/1665_how-to-play-bet9ja-online.html) bets as early as Friday.
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The modifications are the very first in what might become a wave of legalisation after the Supreme Court last month cleared the way for states to allow [sports betting](https://miderde.de/index.php?title=Benutzer:BradleyStrachan).
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The market sees a "when in a generation" opportunity to develop a new market in [sports betting](https://demo.wowonderstudio.com/read-blog/2616_the-ins-and-outs-of-betting-on-the-nfl-draft.html)-mad America, said Dublin-based monetary analyst David Jennings, who heads leisure research study at Davy.
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For UK companies, which are facing debt consolidation, increased online competition and tougher rules from UK regulators, the timing is especially appropriate.
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Why the gaming market faces an unsure future
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How does unlawful [sports betting](https://olps.co.za/wiki/User:DeneseRandall13) work and what are the fears?
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But the market states depending on the US remains a risky bet, as UK business face complex state-by-state regulation and competitors from entrenched regional interests.
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"It's something that we're truly concentrating on, however similarly we don't desire to overhype it," stated James Midmer, spokesman at Paddy Power Betfair, which just recently acquired the US fantasy [sports betting](http://lifethelife.com/read-blog/4680_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) website FanDuel.
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'Take some time'
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The US represented about 23% of the world's $244bn (₤ 182bn) in gaming earnings last year, according to a report by Technavio, external published in January.
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Firms are hoping to take advantage of more of that activity after last month's decision, which struck down a 1992 federal law that barred states outside of Nevada and a few others from authorising [sports betting](https://www.proathletediscuss.com/read-blog/408_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html).
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The [ruling discovered](https://iuridictum.pecina.cz/w/U%C5%BEivatel:LizaWhitham107) the law was an over-reach of federal power. But the court it did not in fact legalise [sports betting](https://learn.ivlc.com/read-blog/44_for-sports-gambling-to-be-legalised.html), leaving that question to local lawmakers.
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That is expected to result in considerable variation in how companies get licensed, where [sports betting](https://social.myschoolfriend.ng/read-blog/40777_the-ins-and-outs-of-betting-on-the-nfl-draft.html) can happen, and which occasions 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 almost $20bn annually depending upon aspects like the number 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 consultants KPMG.
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Now, he stated: "I believe many individuals ... are looking 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 require 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](http://experienciacortazar.com.ar/wiki/index.php?title=Usuario:RamonWrixon34) wagering in some type by 2023, developing a market with about $6bn in yearly income.
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But bookies face a far various landscape in America than they perform in the UK, where [sports betting](https://globalairgunner.com/read-blog/20090_for-sports-gambling-to-be-legalised.html) shops are a frequent sight.
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US laws restricted gambling largely to Native American lands and Nevada's Las Vegas strip till fairly just recently.
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In the popular imagination, [sports betting](https://iuridictum.pecina.cz/w/U%C5%BEivatel:LizaWhitham107) has actually long been linked to a 1919 baseball World Series match-fixing scandal.
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States have likewise been sluggish to legalise many forms of online gaming, regardless of a 2011 Justice Department viewpoint that appeared to eliminate barriers.
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While [sports betting](https://skylockr.app/read-blog/220_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering is usually seen in its own category, "it clearly stays to be seen whether it gets the type of momentum people believe it will," stated Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://sensualmarketplace.com/read-blog/6400_the-ins-and-outs-of-betting-on-the-nfl-draft.html) regulation.
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David Carruthers is the previous president of BetonSports, who was detained in the US in 2006 for running an overseas online sportsbook and served jail time.
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Now a consultant, he states UK companies need to approach the market carefully, selecting partners with care and preventing missteps that might cause regulator reaction.
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"This is an opportunity for the American [sports betting](https://netgork.com/read-blog/110105_online-betting-firms-gamble-on-soccer-mad-nigeria.html) gambler ... I'm unsure whether it is an opportunity for service," he says. "It truly is dependent on the outcome of [state] legislation and how the business operators pursue the chance."
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'It will be collaborations'
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As legalisation starts, [sports betting](https://ifairy.world/read-blog/1424_the-ins-and-outs-of-betting-on-the-nfl-draft.html) companies are lobbying to ward off high tax rates, in addition to requests by US [sports betting](https://younivix.com/read-blog/29899_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) leagues, which wish to collect a percentage of income as an "integrity charge".
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International business deal with the included difficulty of an effective existing gaming market, with gambling establishment operators, state-run lotteries and Native American tribes that are looking for to safeguard their turf.
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Analysts state UK firms will need to strike partnerships, using their expertise and innovation in order to make inroads.
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They point to SBTech's recent statement that it is providing innovation for Kentucky Derby operator Churchill Downs as an example of the kind of deals most likely to materialise.
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"It will be a win-win for everybody, but it will be collaborations and it will be driven by innovation," Mr Hawkley stated.
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'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 investing in the US market given that 2011, when it acquired three US firms to establish an existence in Nevada.
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William Hill now employs about 450 individuals in the US and has announced partnerships with gambling establishments in Iowa and New Jersey.
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It works as danger 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 become a home name in Nevada however that's not necessarily the objective all over.
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"We definitely plan to have a really [substantial brand](http://ringturbine.com80/index.php/User:EmilyNewcombe1) name presence in New Jersey," he said. "In other states, it will simply depend upon regulation and possibly who our regional partner is."
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"The US is going to be the most significant [sports betting](https://bikapsul.com/read-blog/1481_for-sports-gambling-to-be-legalised.html) market in the world," he included. "Obviously that's not going to occur on day one."
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More on this story
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US ruling opens method for [sports betting](https://personal.spaces.one/read-blog/3113_for-sports-gambling-to-be-legalised.html)
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14 May 2018
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Paddy Power buys dream [sports betting](https://www.proathletediscuss.com/read-blog/408_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) website
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23 May 2018
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