From af712e60e09376d4877c22f49ab385c3bff97dab Mon Sep 17 00:00:00 2001 From: renaldouci8929 Date: Mon, 30 Dec 2024 22:02:35 +0100 Subject: [PATCH] Add UK Betting Firms Gamble on United States After Sports Wager Ruling --- ...United-States-After-Sports-Wager-Ruling.md | 51 +++++++++++++++++++ 1 file changed, 51 insertions(+) create mode 100644 UK-Betting-Firms-Gamble-on-United-States-After-Sports-Wager-Ruling.md diff --git a/UK-Betting-Firms-Gamble-on-United-States-After-Sports-Wager-Ruling.md b/UK-Betting-Firms-Gamble-on-United-States-After-Sports-Wager-Ruling.md new file mode 100644 index 0000000..7663efd --- /dev/null +++ b/UK-Betting-Firms-Gamble-on-United-States-After-Sports-Wager-Ruling.md @@ -0,0 +1,51 @@ +
UK wagering firms bet on US after [sports betting](https://farmwoo.com/read-blog/9556_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wager judgment
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
5 June 2018
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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://social.oneworldonesai.com/read-blog/1610_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) wagering starts to spread out in America.
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From Tuesday, new guidelines on wagering came into effect in Delaware, a small east coast state about two hours from Washington.
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Neighbouring New Jersey might start accepting [sports betting](https://jamboz.com/read-blog/139_how-much-are-americans-investing-in-sports-betting.html) bets as early as Friday.
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The changes are the very first in what could become a wave of legalisation after the Supreme Court last month the method for states to enable [sports betting](https://mgnm.uk/read-blog/3127_how-much-are-americans-spending-on-sports-betting.html) wagering.
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The market sees a "when in a generation" chance to establish a brand-new market in [sports betting](https://infinirealm.com/read-blog/8225_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html)-mad America, stated Dublin-based financial analyst David Jennings, who heads leisure research study at Davy.
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For UK firms, which are facing debt consolidation, increased online competitors and [tougher guidelines](http://woorichat.com/read-blog/10281_for-sports-gambling-to-be-legalised.html) from UK regulators, the timing is particularly appropriate.
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Why the [sports betting](https://farmwoo.com/read-blog/9556_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) market faces an [uncertain](https://noaisocial.pro/read-blog/2376_how-are-betting-odds-calculated.html) future
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How does [unlawful](https://catvcommunity.com.tr/read-blog/4411_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) [sports betting](http://www.larsaluarna.se/index.php/User:LynEwx161979585) work and what are the fears?
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But the market says relying on the US remains a dangerous bet, as UK companies deal with complex state-by-state guideline and competitors from established regional interests.
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"It's something that we're really concentrating on, however similarly we do not wish to overhype it," stated James Midmer, spokesperson at Paddy Power Betfair, which just recently acquired the US fantasy [sports betting](https://palkwall.com/read-blog/27736_online-betting-firms-gamble-on-soccer-mad-nigeria.html) site FanDuel.
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'Take some time'
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The US represented about 23% of the world's $244bn (₤ 182bn) in video gaming profits last year, according to a report by Technavio, external released in January.
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Firms are wishing to take advantage of more of that activity after last month's choice, which overruled a 1992 federal law that barred states beyond Nevada and a few others from authorising [sports betting](https://www.tobeop.com/compare-review-oddsjet-de/).
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The judgment found the law was an over-reach of federal power. But the court it did not in fact legalise [sports betting](http://famedoot.in/read-blog/80_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering, leaving that concern to local lawmakers.
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That is expected to cause considerable variation in how companies get accredited, where [sports betting](https://ifairy.world/read-blog/1361_online-betting-firms-gamble-on-soccer-mad-nigeria.html) can occur, and which occasions are open to speculation - with huge implications for the size of the marketplace.
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Potential revenue ranges from $4.2 bn to practically $20bn yearly depending upon elements like how lots of states relocate to legalise, Oxford Economics approximated in a 2017 study for the American Gaming Association.
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"There was a lot of 'this is going to be substantial'", said Will Hawkley, London-based head of leisure for consultants KPMG.
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Now, he said: "I believe the majority of 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'."
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'Remains to be seen"
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Chris Grove, managing director at Eilers & Krejcik Gaming, predicts that 32 states will legalise [sports betting](https://oolibuzz.com/read-blog/41665_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) in some form by 2023, creating a market with about $6bn in annual earnings.
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But bookies deal with a far various landscape in America than they perform in the UK, where [sports betting](https://krazzykross.com/read-blog/1494_for-sports-gambling-to-be-legalised.html) shops 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 imagination, [sports betting](https://globalabout.com/read-blog/16951_why-every-cricket-fan-should-try-the-all-cricket-id-gaming-platform.html) has actually long been linked to a 1919 baseball World Series match-fixing scandal.
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States have also been slow to legalise lots of forms of online gaming, regardless of a 2011 Justice Department viewpoint that appeared to eliminate obstacles.
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While [sports betting](https://olps.co.za/wiki/User:MerissaEmanuel) wagering is typically seen in its own category, "it plainly stays to be seen whether it gets the type of momentum individuals think it will," said Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://fishtanklive.wiki/User:DeniceRidley984) wagering policy.
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David Carruthers is the previous president of BetonSports, who was apprehended in the US in 2006 for running an offshore online sportsbook and served prison time.
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Now a consultant, he states UK firms ought to approach the marketplace thoroughly, picking partners with caution and preventing mistakes that could cause regulator reaction.
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"This is an opportunity for the American [sports betting](https://www.fluencycheck.com/894584/the-history-of-the-nfl-and-how-to-bet-on-it) bettor ... I'm uncertain whether it is an opportunity for organization," he says. "It actually depends on the outcome of [state] legislation and how the company operators pursue the chance."
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'It will be collaborations'
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As legalisation starts, [sports betting](https://olps.co.za/wiki/User:ElwoodBurkholder) firms are lobbying to fend off high tax rates, as well as demands by US [sports betting](https://meta.mactan.com.br/read-blog/23684_just-how-much-are-americans-spending-on-sports-betting.html) leagues, which desire to gather a portion of profits as an "integrity charge".
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International companies face the included difficulty of a powerful existing video gaming industry, with gambling establishment operators, state-run lotteries and Native American people that are looking for to defend their turf.
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Analysts state UK firms will need to strike collaborations, offering their competence and technology in order to make inroads.
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They point to SBTech's recent statement that it is providing technology for Kentucky Derby operator Churchill Downs as an example of the type of deals likely to materialise.
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"It will be a win-win for everyone, but it will be partnerships and it will be driven by technology," 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 company has actually been investing in the US market since 2011, when it acquired 3 US firms to establish an existence in Nevada.
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William Hill now uses about 450 individuals in the US and has actually revealed partnerships with gambling establishments in Iowa and New Jersey.
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It works as danger manager for the Delaware Lottery and has invested millions along with a local developer in a New Jersey horse racing track.
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Mr Asher stated William Hill has ended up being a home name in Nevada but that's not necessarily the objective all over.
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"We certainly plan to have an extremely significant [brand presence](https://trackrecord.id/read-blog/1813_how-much-are-americans-investing-in-sports-betting.html) in New Jersey," he stated. "In other states, it will simply depend on policy and possibly who our local partner is."
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"The US is going to be the most significant [sports betting](https://olps.co.za/wiki/User:Jeffry2055) market worldwide," he included. "Obviously that's not going to take place on day one."
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More on this story
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US ruling opens way for [sports betting](http://wiki.faramirfiction.com/index.php?title=User:LatriceBurger97)
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14 May 2018
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Paddy Power purchases fantasy [sports betting](https://sportify.brandnitions.com/read-blog/25_how-fantasy-betting-app-development-companies-and-sports-developers.html) site
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23 May 2018
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