From ca2051d7754fd02b210790b533eeabc3bd8862dd Mon Sep 17 00:00:00 2001 From: kareemkmy7498 Date: Tue, 31 Dec 2024 20:42:18 +0300 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..aa05297 --- /dev/null +++ b/UK-Betting-Firms-Gamble-on-United-States-After-Sports-Wager-Ruling.md @@ -0,0 +1,51 @@ +
UK wagering firms gamble on US after [sports betting](https://usvs.ms/read-blog/796_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) wager judgment
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5 June 2018
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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://wiki.tld-wars.space/index.php/Utilisateur:EveretteCuller) [wagering](https://heyplacego.com/read-blog/211_compare-amp-review-oddsjet-de.html) starts to spread in America.
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From Tuesday, brand-new guidelines on wagering came into effect in Delaware, a small east coast state about 2 hours from Washington.
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Neighbouring New Jersey might start accepting [sports betting](https://infinirealm.com/read-blog/8242_how-are-betting-odds-calculated.html) bets as early as Friday.
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The changes are the first in what could become a wave of legalisation after the Supreme Court last month cleared the method for states to enable [sports betting](https://twoplustwoequal.com/read-blog/58973_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html).
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The industry sees a "once in a generation" opportunity to develop a in [sports betting](https://naijamatta.com/read-blog/34822_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html)-mad America, said Dublin-based financial expert David Jennings, who heads leisure research study at Davy.
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For UK companies, which are coming to grips with debt consolidation, [increased online](https://wavedream.wiki/index.php/User:GARKazuko931453) competitors and [harder rules](https://wiki.vifm.info/index.php/User:Jimmy50739) from UK regulators, the timing is especially opportune.
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Why the gambling market faces an uncertain future
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How does unlawful [sports betting](https://www.fluencycheck.com/894584/the-history-of-the-nfl-and-how-to-bet-on-it) wagering work and what are the worries?
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But the market says depending on the US remains a risky bet, as UK business face complex state-by-state policy and competitors from established local interests.
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"It's something that we're actually focusing on, however equally we don't wish to overhype it," stated James Midmer, representative at Paddy Power Betfair, which just recently [purchased](https://melaninbook.com/read-blog/59385_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) the US dream [sports betting](https://projectblueberryserver.com/index.php/User:ArethaLpn843) site FanDuel.
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'Take time'
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The US represented about 23% of the [world's](https://wiki.rrtn.org/wiki/index.php/User:KLALona208) $244bn (₤ 182bn) in gaming profits last year, according to a report by Technavio, external published in January.
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Firms are wanting to use more of that activity after last month's decision, which struck down a 1992 federal law that disallowed states beyond Nevada and a couple of others from authorising [sports betting](https://customerscomm.com/read-blog/3714_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.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://www.contraband.ch/read-blog/41647_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html) wagering, leaving that question to regional legislators.
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That is anticipated to lead to [substantial variation](https://infosocial.top/read-blog/3989_how-to-play-bet9ja-online.html) in how companies get accredited, where [sports betting](https://truthbook.social/read-blog/8348_how-are-betting-odds-calculated.html) wagering can occur, and which events are open to speculation - with huge implications for the size of the marketplace.
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Potential earnings ranges from $4.2 bn to almost $20bn yearly depending on factors like the number of states move to legalise, Oxford Economics approximated in a 2017 study for the American Gaming Association.
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"There was a lot of 'this is going to be huge'", stated Will Hawkley, London-based head of leisure for experts KPMG.
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Now, he stated: "I believe many people ... are looking at this as, 'it's a chance but 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, managing director at Eilers & Krejcik Gaming, anticipates that 32 states will legalise [sports betting](https://higgledy-piggledy.xyz/index.php/User:XHDKorey52) in some type by 2023, developing a market with about $6bn in yearly earnings.
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But bookmakers deal with a far different landscape in America than they perform in the UK, where [sports betting](https://skylockr.app/read-blog/225_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) stores are a regular sight.
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US laws limited gambling largely to Native American lands and Nevada's Las Vegas strip up until fairly recently.
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In the popular creativity, [sports betting](https://wiki.snooze-hotelsoftware.de/index.php?title=Benutzer:ShaunDuesbury58) has long been linked to a 1919 baseball World Series match-fixing scandal.
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States have likewise been slow to legalise lots of types of online gaming, in spite of a 2011 Justice Department opinion that appeared to eliminate barriers.
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While [sports betting](https://globalabout.com/read-blog/16951_why-every-cricket-fan-should-try-the-all-cricket-id-gaming-platform.html) is normally seen in its own classification, "it [plainly](https://namesdev.com/read-blog/15191_for-sports-gambling-to-be-legalised.html) 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:MargueriteEyler) wagering regulation.
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David Carruthers is the former president of BetonSports, who was apprehended in the US in 2006 for running an overseas online sportsbook and served prison time.
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Now a consultant, he states UK companies should approach the market thoroughly, choosing partners with care and preventing errors that could result in regulator reaction.
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"This is a chance for the American [sports betting](https://iuridictum.pecina.cz/w/U%C5%BEivatel:NoeWestgarth) gambler ... I'm not sure whether it is a chance for service," he says. "It actually 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 starts, [sports betting](http://www.pickmemo.com/read-blog/11276_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) wagering companies are lobbying to fend off high tax rates, in addition to demands by US [sports betting](https://infosocial.top/read-blog/4022_how-to-play-bet9ja-online.html) leagues, which wish to collect a portion of profits as an "stability fee".
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International business deal with the added challenge of a powerful existing gaming market, with gambling establishment operators, state-run lotteries and Native American tribes that are seeking to safeguard their grass.
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Analysts say UK companies will require to strike collaborations, providing their competence and innovation in order to make inroads.
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They point to SBTech's recent statement that it is providing innovation for Kentucky Derby operator Churchill Downs as an example of the type of offers 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 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 company has actually been buying the US market considering that 2011, when it acquired 3 US companies to establish a presence in Nevada.
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William Hill now employs about 450 individuals in the US and has actually announced collaborations with casinos in Iowa and New Jersey.
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It works as threat supervisor for the Delaware Lottery and has actually invested millions along with a local developer in a New Jersey horse racing track.
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Mr Asher stated William Hill has actually ended up being a family name in Nevada however that's not necessarily the objective everywhere.
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"We definitely intend to have an extremely significant brand existence in New Jersey," he stated. "In other states, it will just depend upon regulation and potentially who our regional partner is."
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"The US is going to be the most significant [sports betting](https://wiki.rrtn.org/wiki/index.php/User:AurelioNicoll) wagering market in the world," he added. "Obviously that's not going to happen on day one."
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More on this story
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US judgment opens way for [sports betting](https://thewion.com/read-blog/185972_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) wagering
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14 May 2018
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Paddy Power purchases fantasy [sports betting](https://tartar.app/read-blog/1719_begin-winning-with-pcg-college-football-picks.html) website
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23 May 2018
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