As another industry insider explained, “The Euro operators are offering a turnkey sportsbook solution – platform, data, risk. The US brick-and-mortar locations – be it casinos or racetracks – have limited expertise in sports betting, such that a turn key solution is attractive to them. Many are signing short term deals though, or deals with an out clause, such that as they gain experience, they can add their own layers of risk management, data, personalization, etc.”
He continued, “The Euro guys are ready whereas some of the home grown guys are not, with exception of William Hill.” He also relayed that Scientific Games (Las Vegas-based but with a major European presence) is still working on their U.S. version of their “Open Bet” platform. IGT (now headquartered in London instead of Reno) still has programming issues. “So by process of elimination, the Euro guys are winning a chunk of the business,” he said.
Sharing the sports betting risk for the U.S. casino giants may also be a major issue prompting them to join forces with the experienced now deep-pocketed European counterparts. The spate of mergers by British-controlled bookmakers such as Ladbrokes with Coral and GVC with Paddy Power and BetFair among others, have made these bookmaking entities stronger than ever before. This strength has allowed them to swoop in to quickly compete with William Hill, the company that did not consolidate with another firm, even though William Hill has had a U.S. operation far longer than anyone else.
Although many projections pegged the U.S. sports betting market in be in the many billions of dollars and perhaps the world’s largest in five to 10 years, many of the large U.S. casino companies may not have taken these figures seriously. Apparently, now they do and are moving swiftly to access the profits that may be available.
To do this, for most, means taking in an experienced partner, so expect the “British Invasion” to continue as more states open legal sports betting markets.
The British are already here.
[Also See: William Hill Penetrates Mississippi Sports Betting, Teases Much More]
The post Legal Sports Betting In The U.S.: The British are Coming! The British are Coming! appeared first on SportsHandle.
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Publish date : 2018-08-07 07:00:00
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