It's high stakes for UK firms as sports wagering starts to spread in America.
From Tuesday, new rules on betting came into result in Delaware, a small east coast state about two hours from Washington.
Neighbouring New Jersey might start accepting sports bets as early as Friday.
The modifications are the first in what could become a wave of legalisation after the Supreme Court last month cleared the way for states to permit sports wagering.
The market sees a "when in a generation" opportunity to develop a new market in sports-mad America, stated Dublin-based financial analyst David Jennings, who heads leisure research at Davy.
For UK firms, which are coming to grips with combination, increased online competitors and harder guidelines from UK regulators, the timing is especially suitable.
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But the industry says relying on the US remains a risky bet, as UK business deal with complicated state-by-state guideline and competitors from entrenched regional interests.
"It's something that we're really focusing on, but similarly we do not desire to overhype it," stated James Midmer, spokesperson at Paddy Power Betfair, which just recently acquired the US fantasy sports website FanDuel.
'Take some time'
The US accounted for about 23% of the world's $244bn (₤ 182bn) in video gaming earnings in 2015, according to a report by Technavio, external released in January.
Firms are wanting to take advantage of more of that activity after last month's choice, which struck down a 1992 federal law that disallowed states outside of Nevada and a few others from authorising sports betting wagering.
The ruling discovered the law was an over-reach of federal power. But the court it did not really legalise sports betting, leaving that concern to local legislators.
That is expected to result in considerable variation in how companies get certified, where sports betting can take place, and which occasions are open to speculation - with huge ramifications for the size of the marketplace.
Potential income varieties from $4.2 bn to practically $20bn each year depending on aspects like the number of states transfer to legalise, Oxford Economics estimated in a 2017 research study for the American Gaming Association.
"There was a lot of 'this is going to be huge'", stated Will Hawkley, London-based head of leisure for experts KPMG.
Now, he stated: "I think the majority of people ... are looking at this as, 'it's a chance however it's not going to be $20bn and it's going to be state by state and it's going to take some time'."
'Remains to be seen"
Chris Grove, managing director at Eilers & Krejcik Gaming, forecasts that 32 states will legalise sports wagering in some form by 2023, producing a market with about $6bn in yearly income.
But bookmakers deal with a far various landscape in America than they do in the UK, where wagering shops are a regular sight.
US laws minimal gambling largely to Native American lands and Nevada's Las Vegas strip up until fairly recently.
In the popular creativity, sports wagering has actually long been linked to a 1919 baseball World Series match-fixing scandal.
States have actually likewise been slow to legalise lots of forms of online betting, despite a 2011 Justice Department viewpoint that appeared to get rid of challenges.
While sports wagering is generally seen in its own category, "it plainly remains to be seen whether it gets the sort of momentum individuals think it will," stated Keith Miller, law teacher at Drake University and co-author of a book about sports betting regulation.
David Carruthers is the former president of BetonSports, who was detained in the US in 2006 for running an offshore online sportsbook and served prison time.
Now a consultant, he states UK firms need to approach the marketplace thoroughly, picking partners with caution and avoiding missteps that could lead to regulator backlash.
"This is a chance for the American sports betting gambler ... I'm not exactly sure whether it is a chance for business," he states. "It actually depends on the outcome of [state] legislation and how business operators pursue the chance."
'It will be partnerships'
As legalisation begins, sports wagering firms are lobbying to ward off high tax rates, along with requests by US sports leagues, which desire to gather a portion of profits as an "stability cost".
International business deal with the added difficulty of a powerful existing video gaming market, with gambling establishment operators, state-run lottery games and Native American people that are seeking to protect their grass.
Analysts say UK firms will need to strike partnerships, providing their know-how and innovation in order to make inroads.
They point to SBTech's recent statement that it is providing technology for Kentucky Derby operator Churchill Downs as an example of the kind of offers likely to materialise.
"It will be a win-win for everyone, but it will be collaborations and it will be driven by innovation," Mr Hawkley said.
'It will simply depend'
Joe Asher, primary executive at William Hill US, is clear-eyed about the truths.
The company has been buying the US market since 2011, when it purchased 3 US companies to establish a presence in Nevada.
William Hill now utilizes about 450 people in the US and has actually revealed partnerships with gambling establishments in Iowa and New Jersey.
It works as risk supervisor for the Delaware Lottery and has invested millions along with a local designer in a New Jersey horse racing track.
Mr Asher stated William Hill has become a family name in Nevada but that's not always the goal everywhere.
"We certainly plan to have a really significant brand presence in New Jersey," he stated. "In other states, it will simply depend upon policy and potentially who our local partner is."
"The US is going to be the greatest sports wagering market worldwide," he included. "Obviously that's not going to take place on day one."
