commit 6bee4ed04d2e64eaadecc242ef6533b715693be1 Author: latashiavonwil Date: Wed Jan 1 00:14:24 2025 -0600 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..0154f46 --- /dev/null +++ b/UK-Betting-Firms-Gamble-on-uS-After-Sports-Wager-Ruling.md @@ -0,0 +1,51 @@ +
UK [sports betting](https://systemcheck-wiki.de/index.php?title=Benutzer:JermaineHess850) firms bet on US after [sports betting](http://ratel.ng/read-blog/61_how-to-play-bet9ja-online.html) wager ruling
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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 reporter, New york city
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It's high stakes for UK firms as [sports betting](https://twoplustwoequal.com/read-blog/58984_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) starts to spread in America.
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From Tuesday, new rules on [sports betting](http://www.seferpanim.com/read-blog/365_online-betting-firms-gamble-on-soccer-mad-nigeria.html) entered 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://kenyansocial.com/read-blog/1352_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) bets as early as Friday.
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The modifications are the first in what could end up being a wave of legalisation after the Supreme Court last month cleared the way for states to permit [sports betting](https://iuridictum.pecina.cz/w/U%C5%BEivatel:KariSherrard7) wagering.
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The industry sees a "as soon as in a generation" chance to a new market in [sports betting](https://www.opentx.cz/index.php/U%C5%BEivatel:VIXAndreas)-mad America, said Dublin-based financial expert David Jennings, who heads leisure research study at Davy.
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For UK firms, which are facing combination, increased online competitors and harder rules from UK regulators, the timing is especially appropriate.
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Why the gaming industry faces an uncertain future
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How does unlawful [sports betting](http://wiki.die-karte-bitte.de/index.php/Benutzer_Diskussion:ReggieGormanston) wagering work and what are the fears?
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But the industry says relying on the US stays a dangerous bet, as UK companies face complex state-by-state guideline and competition from entrenched local interests.
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"It's something that we're really focusing on, however equally we do not wish to overhype it," stated James Midmer, spokesperson at Paddy Power Betfair, which just recently acquired the US dream [sports betting](http://woorichat.com/read-blog/10281_for-sports-gambling-to-be-legalised.html) site FanDuel.
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'Take time'
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The US represented about 23% of the world's $244bn (₤ 182bn) in video gaming earnings last year, according to a report by Technavio, external released in January.
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Firms are intending to use more of that activity after last month's choice, which overruled a 1992 federal law that barred states outside of Nevada and a few others from authorising [sports betting](https://friends.win/read-blog/20636_start-winning-with-pcg-college-football-picks.html) wagering.
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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](https://collegetalks.site/read-blog/11744_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) wagering, leaving that question to regional lawmakers.
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That is anticipated to cause significant variation in how companies get accredited, where [sports betting](https://grade1d.smaportal.ae/read-blog/2418_how-to-withdraw-from-bet9ja-8-step-guide-to-cash-in-your-wins.html) wagering can occur, and which events are open to speculation - with big implications for the size of the market.
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Potential income ranges from $4.2 bn to nearly $20bn annually depending on factors like the number of states relocate to legalise, Oxford Economics estimated in a 2017 research study for the American Gaming Association.
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"There was a lot of 'this is going to be big'", stated Will Hawkley, London-based head of leisure for consultants KPMG.
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Now, he said: "I think the majority of people ... 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, handling director at Eilers & Krejcik Gaming, anticipates that 32 states will legalise [sports betting](http://ringturbine.com:80/index.php/User:KaleyTomkinson) in some type by 2023, developing a market with about $6bn in annual revenue.
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But bookies deal with a far different landscape in America than they carry out in the UK, where [sports betting](https://origintraffic.com/read-blog/1687_exploring-the-sports-betting-industry-putting-ideas-into-practice.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 fairly just recently.
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In the popular imagination, [sports betting](https://bigtoc.com/read-blog/8957_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) wagering has actually long been linked to a 1919 baseball World Series match-fixing scandal.
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States have actually also been slow to legalise many kinds of online gaming, regardless of a 2011 Justice Department opinion that appeared to get rid of challenges.
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While [sports betting](https://youtoosocialnetwork.com/read-blog/1272_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering is usually seen in its own category, "it plainly stays to be seen whether it gets the sort of momentum people think it will," stated Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://chateando.net/read-blog/225_how-much-are-americans-spending-on-sports-betting.html) wagering policy.
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David Carruthers is the former president of BetonSports, who was jailed in the US in 2006 for running an overseas online sportsbook and served prison time.
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Now a consultant, he says UK firms need to approach the market carefully, picking partners with caution and preventing bad moves that could cause regulator backlash.
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"This is a chance for the American [sports betting](https://coptr.digipres.org/index.php/User:VioletSpencer44) wagerer ... I'm unsure whether it is a chance for service," he says. "It truly depends on the outcome of [state] legislation and how business operators pursue the chance."
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'It will be partnerships'
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As legalisation starts, [sports betting](https://droidt99.com/read-blog/7000_the-ins-and-outs-of-betting-on-the-nfl-draft.html) firms are lobbying to fend off high tax rates, as well as requests by US [sports betting](https://philadelphiaflyersclub.com/read-blog/8451_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) leagues, which wish to collect a portion of earnings as an "integrity fee".
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International companies face the added obstacle of a powerful existing gaming industry, with gambling establishment operators, state-run lottery games and Native American people that are looking for to safeguard their grass.
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Analysts state UK firms will need to strike partnerships, offering 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 sort of deals most likely to materialise.
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"It will be a win-win for everyone, however it will be collaborations 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 purchasing the US market given that 2011, when it bought 3 US companies to develop an existence in Nevada.
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William Hill now utilizes about 450 individuals in the US and has revealed partnerships with casinos in Iowa and New Jersey.
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It works as danger supervisor for the Delaware Lottery and has actually invested millions together with a regional developer in a New Jersey horse racing track.
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Mr Asher said William Hill has actually become a family name in Nevada however that's not necessarily the objective all over.
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"We certainly mean to have an extremely considerable brand presence in New Jersey," he stated. "In other states, it will just depend on regulation and possibly who our regional partner is."
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"The US is going to be the greatest [sports betting](http://archmageriseswiki.com/index.php/User:TheresaVelazquez) market worldwide," he added. "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://we2chat.net/read-blog/26306_things-you-need-to-understand-about-rafting-adventures.html)
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14 May 2018
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Paddy Power purchases dream [sports betting](https://www.athleticzoneforum.com/read-blog/749_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html) website
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23 May 2018
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