From ccb99e2ab98e1b4e4fa0a6c6eef2bbabd2063ab1 Mon Sep 17 00:00:00 2001 From: stephenwilkie6 Date: Mon, 30 Dec 2024 21:42:18 +0000 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..023146b --- /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://lidoo.com.br/read-blog/12969_how-are-betting-odds-calculated.html) firms gamble on US after [sports betting](https://welcometohaiti.com/read-blog/15320_how-to-play-bet9ja-online.html) wager judgment
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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 press reporter, New york city
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It's high stakes for UK companies as [sports betting](https://dev.fleeped.com/read-blog/77_how-to-play-bet9ja-online.html) wagering starts to spread out in America.
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From Tuesday, brand-new guidelines on wagering entered result in Delaware, a tiny east coast state about 2 hours from Washington.
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Neighbouring New Jersey might start accepting [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:EloyMcKelvey3) bets as early as Friday.
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The changes are the first in what could end up being a wave of legalisation after the Supreme Court last month cleared the method for states to allow [sports betting](http://famedoot.in/read-blog/104_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 new market in [sports betting](http://ringturbine.com:80/index.php/User:RaquelJudge)-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 competition and [tougher rules](https://www.grandtribunal.org/wiki/User:Brad415495860) from UK regulators, the timing is particularly suitable.
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Why the gaming industry deals with an unsure future
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How does illegal [sports betting](https://truthbook.social/read-blog/8423_missouri-sports-betting-ballot-measure-approved-by-voters.html) work and what are the fears?
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But the market states counting on the US stays a dangerous bet, as UK business deal with complicated state-by-state policy and competition from established local interests.
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"It's something that we're truly focusing on, but equally we do not wish to overhype it," stated James Midmer, spokesperson at Paddy Power Betfair, which recently bought the US dream [sports betting](https://iuridictum.pecina.cz/w/U%C5%BEivatel:MarilouLivingsto) 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 video gaming profits in 2015, according to a report by Technavio, external published in January.
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Firms are hoping 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 couple of others from authorising [sports betting](https://d9talks.site/read-blog/1245_things-you-need-to-learn-about-rafting-adventures.html) wagering.
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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://bytes-the-dust.com/index.php/User:LamontMarshburn), leaving that question to local legislators.
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That is expected to result in considerable variation in how firms get accredited, where [sports betting](https://hcsxy2024.com/read-blog/2053_things-you-need-to-learn-about-rafting-adventures.html) wagering can take place, and which events are open to with big ramifications for the size of the market.
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Potential revenue [varieties](https://www.eruptz.com/read-blog/17285_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) from $4.2 bn to almost $20bn annually depending upon aspects 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'", said Will Hawkley, London-based head of leisure for experts KPMG.
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Now, he stated: "I believe 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, handling director at Eilers & Krejcik Gaming, anticipates that 32 states will legalise [sports betting](https://welcometohaiti.com/read-blog/15320_how-to-play-bet9ja-online.html) wagering in some form by 2023, developing a market with about $6bn in yearly revenue.
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But bookies face a far different landscape in America than they carry out in the UK, where wagering stores are a regular sight.
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US laws minimal 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](https://octomo.co.uk/read-blog/6512_things-you-need-to-understand-about-rafting-adventures.html) wagering has long been linked to a 1919 baseball World Series match-fixing scandal.
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States have also been slow to legalise numerous types of online gaming, regardless of a 2011 Justice Department viewpoint that appeared to remove obstacles.
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While [sports betting](https://naijamatta.com/read-blog/34691_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) wagering is usually viewed in its own category, "it clearly remains to be seen whether it gets the sort of momentum individuals think it will," stated Keith Miller, law professor at Drake University and co-author of a book about [sports betting](https://wiki.vst.hs-furtwangen.de/wiki/User:DouglasDuggan27) policy.
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David Carruthers is the former president of BetonSports, who was detained 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 must approach the marketplace thoroughly, choosing partners with care and avoiding bad moves that might result in regulator backlash.
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"This is an opportunity for the American [sports betting](https://heli.today/read-blog/63_how-to-attract-users-to-my-fantasy-sports-platform.html) gambler ... I'm not sure whether it is an opportunity for business," he says. "It really depends 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](http://yijichain.com/read-blog/15072_how-much-are-americans-spending-on-sports-betting.html) companies are lobbying to ward off high tax rates, along with demands by US [sports betting](https://wooshbit.com/read-blog/18771_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) leagues, which desire to collect a portion of income as an "stability cost".
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International business face the added challenge of a powerful existing video gaming market, with casino operators, state-run lotteries and Native American tribes that are looking for to protect their turf.
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Analysts state UK companies will require to strike partnerships, offering their know-how and technology in order to make inroads.
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They point to SBTech's recent announcement that it is offering innovation for Kentucky Derby operator Churchill Downs as an example of the kind of offers most likely to materialise.
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"It will be a win-win for everybody, 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 business has actually been investing in the US market because 2011, when it purchased three US companies to develop a presence in Nevada.
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William Hill now utilizes about 450 individuals in the US and has actually revealed collaborations with gambling establishments in Iowa and New Jersey.
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It works as risk manager for the Delaware Lottery and has invested millions together with a local designer in a New Jersey horse racing track.
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Mr Asher said William Hill has actually ended up being a household name in Nevada however that's not always the objective everywhere.
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"We definitely plan to have an extremely considerable brand name existence in New Jersey," he said. "In other states, it will just depend upon regulation and possibly who our local partner is."
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"The US is going to be the biggest [sports betting](https://wow.twinear.com/read-blog/1003_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) wagering market in the world," 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 judgment opens way for [sports betting](https://reckoningz.com/things-you-need-to-know-about-rafting-adventures/) wagering
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14 May 2018
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Paddy Power buys dream [sports betting](https://truthbook.social/read-blog/8423_missouri-sports-betting-ballot-measure-approved-by-voters.html) site
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23 May 2018
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