From 7413fff6776befcd8e30b418eb6a8c7987ebccb6 Mon Sep 17 00:00:00 2001 From: dnialexander7 Date: Wed, 25 Dec 2024 19:25:43 +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..6dce939 --- /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 wagering companies bet on US after [sports betting](https://wow.t-mobility.co.il/read-blog/36_missouri-sports-betting-ballot-measure-approved-by-voters.html) wager judgment
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
5 June 2018
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
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://skylockr.app/read-blog/206_how-fantasy-betting-app-development-companies-and-sports-developers.html) starts to spread out in America.
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From Tuesday, new rules on wagering entered into result in Delaware, a tiny east coast state about two hours from Washington.
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Neighbouring New Jersey could begin [accepting](https://www.opentx.cz/index.php/U%C5%BEivatel:SamaraGamboa14) [sports betting](https://parissaintgermainfansclub.com/read-blog/6831_the-ins-and-outs-of-betting-on-the-nfl-draft.html) bets as early as Friday.
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The modifications are the first in what could become a wave of legalisation after the Supreme Court last month cleared the method for states to allow [sports betting](https://africasfaces.com/read-blog/5901_sport-betting-industry-aims-to-protect-itself.html).
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The market sees a "when in a generation" opportunity to establish a new market in [sports betting](https://terra.planetv.wtf/read-blog/721_.html)-mad America, stated Dublin-based financial expert David Jennings, who heads leisure research at Davy.
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For UK companies, which are coming to grips with combination, increased online competitors and tougher rules from UK regulators, the timing is particularly suitable.
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Why the gaming industry deals with an unpredictable future
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How does unlawful [sports betting](https://islider.ru/read-blog/37289_online-betting-firms-gamble-on-soccer-mad-nigeria.html) work and what are the fears?
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But the industry states relying on the US stays a dangerous bet, as UK business deal with complicated state-by-state regulation and competitors from interests.
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"It's something that we're really focusing on, but similarly we don't wish to overhype it," stated James Midmer, [spokesman](https://youtoosocialnetwork.com/read-blog/1267_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) at Paddy Power Betfair, which recently acquired the US dream [sports betting](https://www.opentx.cz/index.php/U%C5%BEivatel:Tania400945) 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 last year, according to a report by Technavio, [external released](https://heatwave.app/read-blog/399_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) in January.
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Firms are wanting 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://pittsburghpenguinsclub.com/read-blog/11686_how-to-attract-users-to-my-fantasy-sports-platform.html).
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The [judgment](https://blkbook.blactive.com/read-blog/2312_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html) found the law was an over-reach of federal power. But the court it did not in fact legalise [sports betting](https://mysazle.com/read-blog/6574_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) wagering, leaving that concern to regional legislators.
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That is expected to cause substantial variation in how companies get certified, where [sports betting](https://seenoor.com/read-blog/424_how-much-are-americans-spending-on-sports-betting.html) can occur, and which occasions are open to speculation - with huge implications for the size of the marketplace.
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Potential revenue ranges from $4.2 bn to practically $20bn yearly depending upon factors like the number of states transfer to legalise, Oxford Economics estimated in a 2017 study for the American Gaming Association.
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"There was a lot of 'this is going to be substantial'", stated Will Hawkley, London-based head of leisure for experts KPMG.
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Now, he stated: "I think most 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 require 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://finance.azberg.ru/read-blog/2412_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) in some form by 2023, producing a market with about $6bn in annual revenue.
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But bookies deal with a far various landscape in America than they do in the UK, where [sports betting](https://online-learning-initiative.org/wiki/index.php/User:CassandraRemley) shops are a frequent sight.
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US laws restricted gaming mainly to Native American lands and Nevada's Las Vegas strip till reasonably just recently.
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In the popular imagination, [sports betting](https://www.athleticzoneforum.com/read-blog/770_missouri-sports-betting-ballot-measure-approved-by-voters.html) wagering has 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 gambling, regardless of a 2011 Justice Department opinion that appeared to eliminate obstacles.
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While [sports betting](https://harrykaneclub.com/read-blog/10002_how-to-withdraw-from-bet9ja-8-step-guide-to-cash-in-your-wins.html) is generally seen in its own classification, "it [plainly](http://wiki-tb-service.com/index.php?title=Benutzer:BerniceZwar666) 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://gayplatform.de/read-blog/3341_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) wagering guideline.
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David Carruthers is the previous chief executive 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 firms should approach the market thoroughly, selecting partners with caution and preventing missteps that might result in regulator reaction.
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"This is a chance for the American [sports betting](https://grade1d.smaportal.ae/read-blog/2418_how-to-withdraw-from-bet9ja-8-step-guide-to-cash-in-your-wins.html) bettor ... I'm not exactly sure whether it is an opportunity for business," he says. "It truly depends on the result of [state] legislation and how the company operators pursue the chance."
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'It will be partnerships'
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As legalisation begins, [sports betting](https://bbarlock.com/index.php/User:KlaudiaGibb) companies are lobbying to ward off high tax rates, as well as demands by US [sports betting](https://sfqatest.sociofans.com/read-blog/655_sport-betting-industry-seeks-to-protect-itself.html) leagues, which wish to collect a portion of profits as an "integrity fee".
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International business face the added challenge of a powerful existing video gaming industry, with gambling establishment operators, state-run lotteries and Native American people that are looking for to safeguard their turf.
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Analysts state UK companies will need to strike collaborations, providing their know-how and innovation in order to make inroads.
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They indicate SBTech's current announcement that it is supplying technology 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 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 truths.
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The company has actually been buying the US market considering that 2011, when it bought 3 US firms to establish an existence in Nevada.
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William Hill now uses about 450 people in the US and has announced partnerships 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 together with a local designer 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 objective everywhere.
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"We certainly intend to have an extremely significant brand existence in New Jersey," he stated. "In other states, it will simply depend upon regulation and potentially who our regional partner is."
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"The US is going to be the greatest [sports betting](http://lifethelife.com/read-blog/4694_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) [wagering](https://socialsmerch.com/read-blog/10555_for-sports-gambling-to-be-legalised.html) market in the world," he included. "Obviously that's not going to happen on the first day."
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More on this story
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US judgment opens way for [sports betting](https://wiki.rrtn.org/wiki/index.php/User:KLALona208)
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14 May 2018
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Paddy Power buys fantasy [sports betting](https://socials.chiragnahata.is-a.dev/read-blog/3306_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) site
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23 May 2018
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