According to business analysts firm Grand View Research, the global online gambling market should almost double in size in the next six years. Their report notes that sports betting is its most-thriving segment due to laxer global legalization and widespread smartphone adoption.
In the US, once the Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018, a betting revolution began. Currently, twenty states allow the practice and many more are making the same a reality. Thus, the sportsbook landscape in the US is ever-growing. If you are considering this hobby, remember to check the reputation of the operator you are looking at via a review on Gamble Indiana or another top info hub that analyzes betting platforms.
As gambling laws grow laxer in other countries, in the UK, the opposite is true. Political and regulatory turmoil is forcing many UK operators to shift gears and focus on other markets. UK lawmakers have once again put up the Gambling Act of 2005 for review as new regulations loom on the horizon. Operators such as BetBright and 188Bet already left for greener pastures, and others are considering similar moves.
The US Market Is Attracting UK Operators
In 2012, once there was noise arose that US gambling regulation could soon change, UK’s William Hill silently acquired three small retail sportsbooks in Nevada. At that time, Nevada was the only state that allowed sports betting in the country. However, following the Supreme Court ruling, William Hill expanded its reach, and it quickly became the largest sports betting business in the US. In late September of 2020, casino giant Caesars Entertainment sent out a press release announcing that they purchased William Hill for $3.7 billion, marking their entry into the online sports betting sphere.
The Bet365 Group, more commonly known as Bet365, is another UK industry powerhouse thriving in America. In 2019, it got approval to conduct a soft launch in New Jersey. Today, Bet365 also has retail sportsbooks in New York and Colorado, but New Jersey remains the only active state that allows its residents to use the Bet365 betting app and place bets with it over the internet.
US Casino Companies Are Taking Over UK Betting Brands
Once the federal government left betting regulation in state lawmaker’s hands, FanDuel and DraftKings swept in and took advantage of the opportunity. Instantly following the Supreme Court’s decision, these two fantasy sports brands switched their focus to operating sportsbooks in legalized territories, putting their impressive customer base to use.
Popular casino companies have also sought to leverage their position in the market, looking to transition to sports betting. We already mentioned the Caesars Entertainment purchase of William Hill. However, in January of 2021, Ladbrokes Coral, a top UK sports wagering brand founded in 1886, rejected an $11 billion takeover proposal from MGM Resorts. Ladbrokes owns the betting site and Bwin, which used to sponsor Real Madrid, and it also has PartyPoker under its umbrella. MGM is trying to enter the battle for America’s fast-growing online sports-betting market and carve out its share. Analysts are predicting that other top casino companies will try to do the same. Buy out established brands with set online gambling infrastructures.