commit 76fb85695940b588a737c1519db2c433cafb4b50 Author: jessikalaufer8 Date: Tue Dec 31 01:47:54 2024 +0800 Add UK Betting Firms Gamble on uS After Sports Wager Ruling 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..73ee931 --- /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 gamble on US after [sports betting](https://www.athleticzoneforum.com/read-blog/758_how-to-play-bet9ja-online.html) wager ruling
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5 June 2018
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By Natalie Sherman
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Business press reporter, New york city
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It's high stakes for UK firms as [sports betting](https://www.eruptz.com/read-blog/17205_how-to-play-bet9ja-online.html) wagering starts to spread in America.
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From Tuesday, new guidelines on wagering entered effect in Delaware, a tiny east coast state about 2 hours from Washington.
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Neighbouring New Jersey could begin accepting [sports betting](https://online-learning-initiative.org/wiki/index.php/User:RuebenDalley87) bets as early as Friday.
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The changes are the first in what might become a wave of legalisation after the Supreme Court last month cleared the method for states to allow [sports betting](https://aijoining.com/read-blog/184_sport-betting-industry-wants-to-protect-itself.html) wagering.
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The industry sees a "once in a generation" opportunity to develop a brand-new market in [sports betting](https://social.instinxtreme.com/read-blog/13950_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.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 consolidation, increased online competition and harder rules from UK regulators, the timing is especially opportune.
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Why the gaming industry deals with an unpredictable future
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How does prohibited [sports betting](https://fishtanklive.wiki/User:LouiseNicholson) wagering work and what are the worries?
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But the market says relying on the US remains a dangerous bet, as UK business deal with complex state-by-state policy and competition from entrenched regional interests.
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"It's something that we're truly concentrating on, however similarly we don't desire to overhype it," said James Midmer, spokesman at Paddy Power Betfair, which just recently purchased the US dream [sports betting](https://social.japrime.id/read-blog/23402_how-fantasy-betting-app-development-companies-and-sports-developers.html) 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 video gaming [revenue](https://www.amedaychats.com/read-blog/795_the-history-of-the-nfl-and-how-to-bet-on-it.html) in 2015, according to a report by Technavio, external released 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 outside of Nevada and a couple of others from authorising [sports betting](https://skylockr.app/read-blog/209_the-ins-and-outs-of-betting-on-the-nfl-draft.html).
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The ruling found the law was an over-reach of federal power. But the court it did not in fact legalise [sports betting](https://taar.me/read-blog/8477_compare-amp-review-oddsjet-de.html), leaving that question to regional legislators.
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That is anticipated to cause [substantial variation](https://iuridictum.pecina.cz/w/U%C5%BEivatel:KariSherrard7) in how firms get certified, where [sports betting](https://idaivelai.com/read-blog/62_sport-betting-industry-seeks-to-protect-itself.html) wagering can take place, and which occasions are open to [speculation -](https://mediawiki1263.00web.net/index.php/User:ClementDane2142) with huge for the size of the market.
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Potential profits varieties from $4.2 bn to practically $20[bn annually](https://gabumbi.com/read-blog/13616_how-to-play-bet9ja-online.html) depending on aspects like how many states move to legalise, Oxford Economics estimated in a 2017 study for the American Gaming [Association](https://redebuck.com.br/read-blog/22116_for-sports-gambling-to-be-legalised.html).
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"There was a great deal of 'this is going to be substantial'", said Will Hawkley, London-based head of leisure for [experts KPMG](https://uptoscreen.com/read-blog/74227_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html).
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Now, he stated: "I believe a lot 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 require time'."
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'Remains to be seen"
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Chris Grove, managing director at Eilers & Krejcik Gaming, predicts that 32 states will legalise [sports betting](https://zapzclubhouse.com/read-blog/2773_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering in some form by 2023, developing a market with about $6bn in annual income.
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But bookies face a far various landscape in America than they carry out in the UK, where [sports betting](https://farmwoo.com/read-blog/9530_how-to-play-bet9ja-online.html) stores are a regular sight.
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US laws limited gambling mostly to Native American lands and Nevada's Las Vegas strip until relatively just recently.
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In the popular imagination, [sports betting](http://classicalmusicmp3freedownload.com/ja/index.php?title=%E5%88%A9%E7%94%A8%E8%80%85:ThereseBohm67) wagering has actually long been linked to a 1919 baseball World Series match-fixing scandal.
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States have likewise been sluggish to legalise many kinds of online gambling, in spite of a 2011 Justice Department opinion that appeared to remove obstacles.
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While [sports betting](https://infinirealm.com/read-blog/8255_best-u-s-sports-betting-sites-amp-sportsbooks-for-2024.html) is generally seen in its own category, "it clearly stays to be seen whether it gets the kind of momentum individuals think it will," said Keith Miller, law teacher at Drake University and co-author of a book about [sports betting](https://18plus.fun/read-blog/19_for-sports-gambling-to-be-legalised.html) guideline.
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David Carruthers is the previous president of BetonSports, who was arrested in the US in 2006 for running an offshore online sportsbook and served prison time.
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Now a consultant, he states UK firms must approach the market thoroughly, choosing partners with care and avoiding errors that might lead to regulator reaction.
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"This is a chance for the American [sports betting](https://africasfaces.com/read-blog/5862_for-sports-gambling-to-be-legalised.html) bettor ... I'm not sure whether it is a chance for organization," he states. "It actually is dependent on the outcome of [state] legislation and how business operators pursue the chance."
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'It will be partnerships'
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As legalisation begins, [sports betting](http://it-viking.ch/index.php/User:PhilomenaOHara) wagering firms are lobbying to ward off high tax rates, along with demands by US [sports betting](http://wiki.die-karte-bitte.de/index.php/Benutzer_Diskussion:CEZChristopher) leagues, which desire to gather a percentage of profits as an "stability fee".
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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 tribes that are looking for to safeguard their turf.
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Analysts say UK companies will need to strike partnerships, using their know-how and technology in order to make inroads.
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They indicate SBTech's recent announcement that it is offering technology for Kentucky Derby operator Churchill Downs as an example of the sort of deals 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 innovation," 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 company has been buying the US market since 2011, when it bought 3 US firms to develop an existence in Nevada.
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William Hill now utilizes about 450 individuals in the US and has announced partnerships with casinos in Iowa and New Jersey.
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It works as risk 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 stated William Hill has become a family name in Nevada but that's not always the goal everywhere.
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"We definitely mean to have a very substantial brand name presence in New Jersey," he said. "In other states, it will simply depend on regulation and possibly who our regional partner is."
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"The US is going to be the greatest [sports betting](https://social.instinxtreme.com/read-blog/14241_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering market in the world," he included. "Obviously that's not going to occur on the first day."
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More on this story
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US ruling opens way for [sports betting](http://wiki.die-karte-bitte.de/index.php/Benutzer_Diskussion:CEZChristopher)
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14 May 2018
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Paddy Power purchases fantasy [sports betting](https://we2chat.net/read-blog/26297_why-every-cricket-fan-ought-to-try-the-all-cricket-id-gaming-platform.html) website
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23 May 2018
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