From 55e3f6de9f2ffe5fcf5e7fce19e32245659e7f02 Mon Sep 17 00:00:00 2001 From: terranceheyes5 Date: Tue, 31 Dec 2024 22:35:30 +0000 Subject: [PATCH] Update '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..8bc400b --- /dev/null +++ b/UK-Betting-Firms-Gamble-on-United-States-After-Sports-Wager-Ruling.md @@ -0,0 +1,51 @@ +[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
UK [sports betting](https://youslade.com/read-blog/41389_for-sports-gambling-to-be-legalised.html) companies gamble on US after [sports betting](https://voggisper.com/read-blog/1219_just-how-much-are-americans-investing-in-sports-betting.html) wager ruling
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
5 June 2018
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By Natalie Sherman
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reporter, New york city
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It's high stakes for UK firms as [sports betting](https://demo.shoudyhosting.com/qtoa/?qa=86959/sports-minister-tracey-crouch-resigns-delay-betting-crackdown) starts to spread out in [America](https://social.japrime.id/read-blog/23444_the-history-of-the-nfl-and-how-to-bet-on-it.html).
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From Tuesday, new rules on wagering came into impact in Delaware, a [tiny east](https://lidoo.com.br/read-blog/12969_how-are-betting-odds-calculated.html) coast state about 2 hours from Washington.
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Neighbouring New Jersey could begin accepting [sports betting](https://iuridictum.pecina.cz/w/U%C5%BEivatel:VernitaPhelan) bets as early as Friday.
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The changes are the very first in what could end up being a wave of legalisation after the Supreme Court last month cleared the way for states to enable [sports betting](https://pipewiki.org/wiki/index.php/User:BTOGabriel).
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The industry sees a "once in a generation" chance to develop a brand-new market in [sports betting](https://miderde.de/index.php?title=Benutzer:BradleyStrachan)-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 coming to grips with combination, increased online competitors and harder guidelines from UK regulators, the timing is especially suitable.
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Why the gambling market faces an unpredictable future
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How does illegal [sports betting](https://wiki.vst.hs-furtwangen.de/wiki/User:RafaelaOlden072) work and what are the fears?
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But the industry says depending on the US remains 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 really concentrating on, however similarly we don't want to overhype it," said James Midmer, spokesman at Paddy Power Betfair, which recently purchased the US dream [sports betting](http://ringturbine.com:80/index.php/User:KaleyTomkinson) 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 [gaming income](http://wiki-tb-service.com/index.php?title=Benutzer:AbigailNewell5) last year, according to a report by Technavio, external released in January.
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Firms are [wishing](https://pipewiki.org/wiki/index.php/User:DevonCosta) 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://systemcheck-wiki.de/index.php?title=Benutzer:AntwanBatts).
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The judgment discovered the law was an over-reach of federal power. But the court it did not really legalise [sports betting](https://islider.ru/read-blog/37912_online-betting-firms-gamble-on-soccer-mad-nigeria.html) wagering, leaving that question to local lawmakers.
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That is anticipated to lead to considerable variation in how companies get licensed, where [sports betting](https://www.grandtribunal.org/wiki/User:BerryLovejoy82) wagering can take place, and which events are open to speculation - with huge implications for the size of the marketplace.
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Potential profits ranges from $4.2 bn to almost $20bn yearly depending on factors like how many states relocate to legalise, Oxford Economics [estimated](https://social.mirrororg.com/read-blog/7677_for-sports-gambling-to-be-legalised.html) in a 2017 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 experts KPMG.
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Now, he said: "I think many people ... are looking at this as, 'it's a chance 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](https://bigtoc.com/read-blog/8978_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) in some form by 2023, producing a market with about $6bn in yearly earnings.
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But bookies face a far various landscape in America than they perform in the UK, where [sports betting](https://meebeek.com/read-blog/1104_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) stores are a regular sight.
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US laws restricted gambling mostly to Native American lands and Nevada's Las Vegas strip until relatively just recently.
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In the popular creativity, [sports betting](https://embargo.energy/index.php/User:ShaniMileham33) has actually long been connected to a 1919 baseball World Series match-fixing scandal.
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States have actually also been slow to legalise lots of types of online gambling, despite a 2011 Justice Department opinion that appeared to eliminate barriers.
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While [sports betting](https://wiki.vst.hs-furtwangen.de/wiki/User:DouglasDuggan27) is typically seen in its own classification, "it clearly stays to be seen whether it gets the kind of momentum people think it will," stated Keith Miller, law professor at Drake University and co-author of a book about [sports betting](https://richonline.club/read-blog/3571_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) wagering regulation.
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David Carruthers is the previous president of BetonSports, who was jailed in the US in 2006 for running an offshore online sportsbook and served prison time.
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Now a consultant, he says UK companies ought to approach the market thoroughly, selecting partners with care and avoiding bad moves that might result in regulator reaction.
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"This is a chance for the American [sports betting](https://www.contraband.ch/read-blog/41647_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) wagerer ... I'm unsure whether it is an opportunity for organization," he says. "It really 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](http://www.vmeste-so-vsemi.ru/wiki/%D0%A3%D1%87%D0%B0%D1%81%D1%82%D0%BD%D0%B8%D0%BA:VivienFrasier86) wagering firms are lobbying to ward off high tax rates, in addition to demands by US [sports betting](https://palkwall.com/read-blog/27696_the-history-of-the-nfl-and-how-to-bank-on-it.html) leagues, which wish to gather a portion of earnings as an "integrity cost".
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International business face the included challenge of a powerful existing video gaming industry, with casino operators, state-run lottos and Native American people that are seeking to defend their turf.
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Analysts state UK companies will require to strike partnerships, using their competence and innovation in order to make inroads.
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They indicate SBTech's recent announcement that it is offering innovation for Kentucky Derby operator Churchill Downs as an example of the sort of deals 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.
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'It will simply 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 since 2011, when it purchased 3 US companies to establish an existence in Nevada.
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William Hill now employs about 450 people in the US and has actually revealed collaborations with gambling establishments in Iowa and New Jersey.
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It works as threat 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 an extremely considerable brand presence in New Jersey," he said. "In other states, it will just 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://app.galaxiesunion.com/read-blog/13145_sport-betting-industry-seeks-to-protect-itself.html) wagering market worldwide," he added. "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 method for [sports betting](https://reckoningz.com/sport-betting-industry-looks-to-protect-itself/)
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14 May 2018
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Paddy Power buys dream [sports betting](http://experienciacortazar.com.ar/wiki/index.php?title=Usuario:CruzWindsor2212) site
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23 May 2018
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