The US Opens Its Doors to UK Gambling Companies
Casinos using PayPal in the UK are getting an early Christmas present – the USA are opening their market for UK gambling operators. Certain US states are changing their views on sports betting, and some are even allowing UK casinos to run within their boundaries.
One of the first states to change their gambling legislation was Delaware; even allowing a UK gambling operator to run their state lottery for about two years now. New Jersey is also opening their gates to the UK very soon.
This is all thanks to the US Supreme Court ruling on gambling in the country. However, UK casinos are to be warned – the Supreme Court allowed accepting bets in UK-based casinos, but they left the details to be sorted out by states individually. This means that each state might have their own licence and legislation. This raises a concern among analysts if expanding to the US market is the right course of action. These state-to-state legislations might hinder the expansion and be more trouble than they’re worth.
But, that’s just one problem. The other problem for UK casinos is the competition. Local casinos will surely see UK competitors as a threat to their business and will not give up the “ground” easily. The most problematic will be well-established casinos, which are sure to present the biggest hurdle for the “invaders.”
Nevertheless, many analysts are optimistic about the ruling. Some are going as far as to say that this is a “once in a lifetime” opportunity for UK operators. Indeed, the US gambling market is vast, generating 23% of the world’s gaming revenue last year. If the UK operators are to get a foothold in it, they could substantially increase their annual profits.
In the end, we must agree that venturing into the US market is a risky move. However, surely some brave entrepreneurs will make that leap of faith. And, if they manage to do well, others are sure to follow.