From 76cbb7a9f73b2e936d3637866d2fa38739d375c6 Mon Sep 17 00:00:00 2001 From: billoshanassy7 Date: Thu, 2 Jan 2025 07:28:25 +0800 Subject: [PATCH] Add UK Betting Firms Gamble on uS After Sports Wager Ruling --- ...-Gamble-on-uS-After-Sports-Wager-Ruling.md | 45 +++++++++++++++++++ 1 file changed, 45 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..e94856f --- /dev/null +++ b/UK-Betting-Firms-Gamble-on-uS-After-Sports-Wager-Ruling.md @@ -0,0 +1,45 @@ +
UK [sports betting](https://dev.fleeped.com/read-blog/49_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) companies gamble on US after [sports betting](https://www.drawlfest.com/read-blog/10942_how-to-play-bet9ja-online.html) wager judgment
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5 June 2018
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It's high stakes for [UK companies](https://iprofile.sv3.gramick.dev/read-blog/3118_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) as [sports betting](http://yijichain.com/read-blog/15081_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html) wagering starts to spread out in America.
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From Tuesday, brand-new rules on [sports betting](https://vishwakarmacommunity.org/read-blog/7938_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) entered into result in Delaware, a small east coast state about two hours from Washington.
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Neighbouring New Jersey might begin accepting [sports betting](https://oeclub.org/index.php/User:CarenAndres380) bets as early as Friday.
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The changes 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 permit [sports betting](http://www.vokipedia.de/index.php?title=Benutzer:RichDemaria40).
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The industry sees a "when in a generation" opportunity to [establish](https://demo.shoudyhosting.com/qtoa/?qa=86885/just-how-much-are-americans-spending-on-sports-betting) a new market in [sports betting](https://welcometohaiti.com/read-blog/16359_for-sports-gambling-to-be-legalised.html)-mad America, stated Dublin-based monetary analyst David Jennings, who heads leisure research at Davy.
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For UK firms, which are grappling with combination, increased online competitors and tougher guidelines from UK regulators, the timing is especially opportune.
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Why the gambling industry deals with an unpredictable future
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How does illegal [sports betting](https://social.stssconstruction.com/read-blog/21568_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) wagering work and what are the fears?
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But the industry states relying on the US stays a dangerous bet, as UK business deal with complex state-by-state policy and competitors from entrenched regional interests.
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"It's something that we're truly concentrating on, but equally we do not desire to overhype it," stated James Midmer, spokesperson at Paddy Power Betfair, which recently bought the US 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 profits in 2015, according to a report by Technavio, external published in January.
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Firms are hoping to tap into more of that activity after last month's decision, which overruled a 1992 federal law that barred states beyond Nevada and a couple of others from authorising [sports betting](https://wiki.trinitydesktop.org/User:LeesaLea9649).
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The ruling discovered the law was an over-reach of federal power. But the court it did not really legalise [sports betting](https://worldsports.pro/read-blog/206_how-much-are-americans-spending-on-sports-betting.html) wagering, leaving that concern to regional legislators.
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That is anticipated to lead to considerable variation in how companies get certified, where [sports betting](https://wiki.vst.hs-furtwangen.de/wiki/User:MarkElliston672) can occur, and which events are open to speculation - with big ramifications for the size of the market.
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Potential profits varieties from $4.2 bn to almost $20bn annually depending on aspects like how many states move to legalise, Oxford Economics estimated in a 2017 research study for the American Gaming Association.
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"There was a great deal of 'this is going to be huge'", said Will Hawkley, London-based head of leisure for specialists KPMG.
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Now, he said: "I believe many people ... are taking a look 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, handling director at Eilers & Krejcik Gaming, predicts that 32 states will legalise [sports betting](https://web-chat.cloud/question2answer/index.php?qa=63541&qa_1=for-sports-gambling-to-be-legalised) in some type by 2023, creating a market with about $6bn in annual profits.
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But bookmakers face a far various landscape in America than they do in the UK, where wagering shops are a regular sight.
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US laws restricted gambling mainly to Native American lands and Nevada's Las Vegas strip up until reasonably just recently.
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In the popular imagination, [sports betting](http://wiki-tb-service.com/index.php?title=Benutzer:GlennChavez02) wagering has long been connected to a 1919 baseball World Series match-fixing scandal.
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States have likewise been sluggish to legalise many forms of online [sports betting](https://origintraffic.com/read-blog/1669_compare-amp-review-oddsjet-de.html), in spite of a 2011 Justice Department viewpoint that appeared to remove challenges.
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While [sports betting](https://wiki.ragnaworld.net/index.php?title=User:DanteAgaundo) wagering is typically viewed in its own classification, "it plainly stays to be seen whether it gets the type of momentum individuals think it will," said Keith Miller, law professor at Drake University and co-author of a book about [sports betting](https://munidigital.iie.cl/wiki/index.php?title=Usuario:Tammi63R94) wagering guideline.
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David Carruthers is the former primary executive of BetonSports, who was detained in the US in 2006 for running an offshore online sportsbook and served prison time.
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Now a specialist, he states UK firms need to approach the marketplace carefully, choosing partners with care and avoiding errors that could result in regulator backlash.
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"This is an opportunity for the American [sports betting](https://ekotur.online/sports-betting/things-you-need-to-know-about-rafting-adventures/) bettor ... I'm uncertain whether it is a chance for business," he states. "It really depends on the outcome of [state] legislation and how the organization operators pursue the chance."
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'It will be collaborations'
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As legalisation begins, [sports betting](https://napolifansclub.com/read-blog/22875_things-you-need-to-understand-about-rafting-adventures.html) firms are lobbying to fend off high tax rates, as well as demands by US [sports betting](https://myquora.myslns.com/index.php?qa=40835&qa_1=missouri-sports-betting-ballot-measure-approved-by-voters) leagues, which want to gather a percentage of earnings as an "[integrity](https://farmwoo.com/read-blog/9539_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) cost".
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International companies deal with the added difficulty of an effective existing video gaming industry, with casino operators, state-run lotteries and Native American people that are looking for to safeguard their turf.
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Analysts say UK companies will need to strike partnerships, offering their expertise and innovation in order to make inroads.
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They point to SBTech's current announcement that it is providing technology for Kentucky Derby operator Churchill Downs as an example of the type 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, chief executive at William Hill US, is clear-eyed about the truths.
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The company has been purchasing the US market given that 2011, when it bought three US companies to develop an existence in Nevada.
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William Hill now uses about 450 people in the US and has revealed partnerships with gambling establishments in Iowa and New Jersey.
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It works as danger supervisor for the Delaware Lottery and has actually invested millions alongside a local developer in a New Jersey horse racing track.
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Mr Asher said William Hill has become a household name in Nevada however that's not necessarily the objective everywhere.
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"We definitely intend to have a really significant brand existence in New Jersey," he said. "In other states, it will simply depend on regulation and potentially who our regional partner is."
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"The US is going to be the biggest [sports betting](http://it-viking.ch/index.php/User:DaisyJarrell70) market worldwide," he included. "Obviously that's not going to take place on day one."
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US judgment opens way for [sports betting](https://usvs.ms/read-blog/801_online-betting-firms-gamble-on-soccer-mad-nigeria.html) wagering
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