According to business analyst firm Grand View Research, the global online gaming market is set to nearly double in the next six years. Their report notes that sports betting is the most thriving segment due to the loose global legalization and widespread adoption of smartphones.
A betting revolution began in the United States when the Supreme Court in 2018 enacted the law to protect professional and amateur sports. Twenty states currently allow the practice and many more are making it a reality. Thus the sports betting landscape in the USA is growing steadily. Whenever you are contemplating this hobby, remember to check the reputation of the operator you are looking for via a Review of Gamble Indiana or another top info hub that analyzes betting platforms.
With gambling laws easing in other countries, in the UK, the opposite is true. Political and regulatory turbulence is forcing many British operators to do so Change gear and focus on other markets. UK lawmakers have re-submitted the 2005 Gambling Act for review as new rules emerge. Operators like BetBright and 188Bet have already moved into greener pastures, and others are considering taking similar steps.
The US market is attracting British operators
In 2012, when there was noise that US gambling regulations were about to change, British William Hill tacitly acquired three small sports bets for retail in Nevada. At the 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 quickly became the largest sports betting business in the United States. In late September 2020, casino giant Caesars Entertainment released a press release announcing that it had bought William Hill for $ 3.7 billion, marking its entry into the online sports betting space.
The Bet365 group, better known as Bet365, is another powerhouse of UK industry that is thriving in America. In 2019, it received approval to do a soft launch in New Jersey. Today, Bet365 also has retail sports betting in New York and Colorado, but New Jersey remains the only active state where its residents can use the Bet365 betting app and place bets over the internet.
US casino companies take over UK betting brands
After the federal government left the betting regulations in the hands of the legislature, FanDuel and DraftKings took the opportunity. Immediately after the Supreme Court decision, these two Fantasy sport Brands focused on operating sports betting in legalized areas and capitalized on their impressive customer base.
Popular casino companies have also tried to strengthen their position in the market and move to sports betting. We already mentioned Caesars Entertainment's purchase of William Hill. In January 2021, Ladbrokes Coral, a top UK sports betting brand founded in 1886, rejected a $ 11 billion takeover proposal from MGM Resorts. Ladbrokes owns the betting website and Bwin, which previously sponsored Real Madrid, and PartyPoker under its umbrella. MGM seeks to enter the battle for the fast growing American online sports betting market and secure its share. Analysts predict other top casino companies will try to do the same. Buy out established brands with established online gambling infrastructures.