Poll results: US sports betting a big opportunity for European firms
More than 58% of voters agree with Hills CEO Philip Bowcock who said his firm is “ready to take advantage”
The US Supreme Court’s recent decision to hear a case on the legalisation of sports betting could open up some major opportunities for European firms, according to a majority of voters on this week’s poll.
More than 58% of respondents said there were benefits to be reaped, with the case expected to be decided by the middle of next year and New Jersey Senator Ray Lesniak predicting he would be able to bet in the state by next autumn.
The state’s chances of winning look strong, with the Supreme Court overturning 83% (45/54) of the cases it heard last year in favour of the party that appealed.
And the opportunity for sports betting is likely to quickly spread beyond New Jersey, with 10 states in total having introduced some form of sports betting legislation this year.
William Hill CEO Philip Bowcock was emblematic of the optimism, saying the news was a “welcome development” for the company.
“It is time that it was recognised that PASPA has failed as a law,” Bowcock said. “We believe it is right that all parties, including the American sports leagues, now come together and establish a new framework of regulation.
“William Hill is now Nevada’s leading sports betting company and we stand ready to take advantage of an opening up of the sports betting market in other states.”
However 42% of voters suggested caution, with several obstacles to cross before European firms can begin cashing checks.
Top of the list is the powerful incumbents, with corporations like MGM and Caesars holding strong relationships with lawmakers and existing infrastructure. Likewise, the betting would initially take place in racetracks and casinos rather than online again favouring these land-based giants.