From 1014bbe601e9e74a2b42ba080f58a1f91ee7d959 Mon Sep 17 00:00:00 2001 From: elisabethwoott Date: Tue, 31 Dec 2024 20:41:20 +0800 Subject: [PATCH] Add UK Betting Firms Gamble on uS After Sports Wager Ruling --- ...-Gamble-on-uS-After-Sports-Wager-Ruling.md | 51 +++++++++++++++++++ 1 file changed, 51 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..c5a8944 --- /dev/null +++ b/UK-Betting-Firms-Gamble-on-uS-After-Sports-Wager-Ruling.md @@ -0,0 +1,51 @@ +[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
UK [sports betting](https://social.midnightdreamsreborns.com/read-blog/13190_just-how-much-are-americans-spending-on-sports-betting.html) firms bet on US after [sports betting](https://farmwoo.com/read-blog/9544_why-every-cricket-fan-should-try-the-all-cricket-id-gaming-platform.html) wager ruling
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5 June 2018
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
By Sherman
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Business reporter, New york city
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It's high stakes for UK companies as [sports betting](https://myquora.myslns.com/index.php?qa=39737&qa_1=things-you-need-to-learn-about-rafting-adventures) wagering starts to spread in America.
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From Tuesday, new guidelines on wagering entered effect in Delaware, a small east coast state about 2 hours from Washington.
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Neighbouring New Jersey could begin accepting [sports betting](https://app.galaxiesunion.com/read-blog/13263_sport-betting-industry-wants-to-protect-itself.html) bets as early as Friday.
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The modifications are the very first in what might end up being a wave of [legalisation](https://twixxor.com/read-blog/8929_just-how-much-are-americans-investing-in-sports-betting.html) after the Supreme Court last month cleared the way for states to permit [sports betting](https://palkwall.com/read-blog/27696_the-history-of-the-nfl-and-how-to-bank-on-it.html).
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The market sees a "as soon as in a generation" chance to develop a brand-new market in [sports betting](https://collegetalks.site/read-blog/11756_how-fantasy-betting-app-development-companies-and-sports-developers.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 consolidation, increased online competition and tougher rules from UK regulators, the timing is especially suitable.
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Why the [sports betting](https://cheere.org/read-blog/36300_the-history-of-the-nfl-and-how-to-bank-on-it.html) industry faces an uncertain future
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How does illegal [sports betting](https://metacouture.co/read-blog/24268_the-ins-and-outs-of-betting-on-the-nfl-draft.html) work and what are the fears?
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But the market says relying on the US stays a dangerous bet, as UK business deal with complicated state-by-state guideline and competitors from entrenched local interests.
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"It's something that we're really concentrating on, but similarly we do not want to overhype it," said James Midmer, spokesman at Paddy Power Betfair, which recently acquired the US dream [sports betting](https://ai.tienda/read-blog/7279_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) site FanDuel.
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'Take some time'
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The US accounted for about 23% of the world's $244bn (₤ 182bn) in gaming revenue in 2015, according to a report by Technavio, external published in January.
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Firms are wishing to use more of that activity after last month's decision, which struck down a 1992 federal law that barred states beyond Nevada and a couple of others from authorising [sports betting](https://innovator24.com/read-blog/23442_just-how-much-are-americans-investing-in-sports-betting.html).
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The ruling discovered the law was an over-reach of federal power. But the court it did not actually legalise [sports betting](https://social.mirrororg.com/read-blog/7682_sport-betting-industry-wants-to-protect-itself.html) wagering, leaving that question to local lawmakers.
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That is anticipated to cause significant variation in how companies get certified, where [sports betting](https://flowsocial.xyz/read-blog/570_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering can happen, and which events are open to speculation - with big implications for the size of the market.
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Potential earnings varieties from $4.2 bn to practically $20bn yearly depending on aspects like how lots 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 substantial'", stated Will Hawkley, London-based head of leisure for specialists KPMG.
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Now, he said: "I think the majority of 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 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](https://youtoosocialnetwork.com/read-blog/1288_how-to-attract-users-to-my-fantasy-sports-platform.html) wagering in some kind by 2023, creating a market with about $6bn in yearly revenue.
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But bookmakers face a far various landscape in America than they carry out in the UK, where wagering stores are a regular sight.
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US laws restricted [sports betting](https://islider.ru/read-blog/39126_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) largely to Native American lands and Nevada's Las Vegas strip till fairly recently.
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In the popular imagination, [sports betting](http://www.seferpanim.com/read-blog/388_for-sports-gambling-to-be-legalised.html) wagering has long been connected to a 1919 baseball World Series match-fixing scandal.
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States have also been sluggish to legalise lots of forms of online gaming, regardless of a 2011 Justice Department viewpoint that appeared to remove obstacles.
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While [sports betting](https://meta.mactan.com.br/read-blog/23684_just-how-much-are-americans-spending-on-sports-betting.html) is usually viewed in its own category, "it clearly stays to be seen whether it gets the kind of momentum people think it will," stated Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://social.mirrororg.com/read-blog/7677_for-sports-gambling-to-be-legalised.html) wagering guideline.
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David Carruthers is the former 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 specialist, he states UK companies must approach the market carefully, choosing partners with caution and avoiding errors that could lead to regulator reaction.
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"This is an opportunity for the American [sports betting](https://ifairy.world/read-blog/1424_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagerer ... I'm unsure whether it is an opportunity for company," he states. "It truly is reliant on the result of [state] legislation and how business operators pursue the opportunity."
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'It will be collaborations'
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As legalisation begins, [sports betting](https://pittsburghpenguinsclub.com/read-blog/11701_the-ins-and-outs-of-betting-on-the-nfl-draft.html) companies are lobbying to fend off high tax rates, along with demands by US [sports betting](https://pittsburghpenguinsclub.com/read-blog/11628_things-you-need-to-learn-about-rafting-adventures.html) leagues, which wish to gather a percentage of income as an "stability charge".
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International companies deal with the added challenge of a powerful existing video gaming market, with casino operators, state-run lottery games and Native American people that are seeking to protect their turf.
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Analysts say UK companies will need to strike collaborations, offering their expertise and innovation in order to make inroads.
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They point to SBTech's recent statement that it is offering technology for Kentucky Derby operator Churchill Downs as an example of the sort of offers 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 technology," Mr Hawkley said.
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'It will just depend'
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Joe Asher, president at William Hill US, is clear-eyed about the truths.
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The business has been buying the US market given that 2011, when it bought 3 US companies to establish an existence in Nevada.
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William Hill now uses about 450 individuals in the US and has revealed collaborations with casinos 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 but that's not always the goal all over.
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"We certainly mean to have a very substantial brand presence in New Jersey," he said. "In other states, it will just depend upon policy and possibly who our local partner is."
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"The US is going to be the most significant [sports betting](https://socialsmerch.com/read-blog/10558_for-sports-gambling-to-be-legalised.html) wagering market in the world," he added. "Obviously that's not going to take place on day one."
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More on this story
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US judgment opens method for [sports betting](https://farmwoo.com/read-blog/9557_enhance-your-business-opportunities-with-efficient-sports-apps.html)
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14 May 2018
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
Paddy Power purchases fantasy [sports betting](https://namesdev.com/read-blog/15191_for-sports-gambling-to-be-legalised.html) site
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23 May 2018
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) \ No newline at end of file