With the US Supreme Court set to rule later this year on whether or not to end a federal ban on sports betting, companies across the Big Pond are watching the climate carefully. British online gambling companies are hoping to enter a legal and regulated sports betting industry in the United States if New Jersey wins its appeal to have the federal PASPA bill overturned.
If this happens, the industry will open up as more and more states rush to get a slice of this lucrative market. Analysts believe that the market could be worth between $10 billion and $20 billion if it were fully liberalized.
The US expects to see the Supreme Court give its ruling by June this year. The decision that is to be made is whether the country is ready to end the federal law that prohibits gambling on sports in all but four states. At least four states have already been proactive and created legislation to legalize and regulate sports betting if the Supreme Court rules in favor of doing away with PASPA.
The British gambling market is highly competitive and it stands to reason that companies are looking at other markets to expand into. There is huge potential to be had in the US sports betting market, and the only thing standing in these companies’ way is the pending higher court decision.