European Bookmakers Bids Operations In The US

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Europe is the world’s largest market for gambling. The advancement in technology boosted the EU’s online gaming and betting industry. The online gambling industry in Europe rose 10 percent per year. It is growing faster than its land-based casinos. The European market is fierce competition for gambling companies.

The lifting of restrictions in the US for online gambling attracted the interests of European operators for expansion. More and more states in the US are accepting betting. Gamblers in the country showed the same trend as their European counterparts. Many American gamblers are now subscribing to online gaming and betting platforms.

Sportsbooks are gaining popularity in the country because of the American’s love for both sports and gambling. The country has long been pursuing the legalization of sports betting, and the lifting of the 25-year ban is music to the ears. States started plans on regulating the industry when the ban was lifted.

Sports betting in the US States

Currently, more than 18 US States have control and regulation for online gambling. States including West Virginia, Washington, Colorado, Illinois, Delaware, Iowa, Michigan, North Carolina, New Hampshire, Virginia, Tennessee, New Jersey, New Mexico, New York, Oregon Pennsylvania, Puerto Rico, and Rhode Island allowed citizens of legal age to place bets in sports betting.

The biggest names in bookmaking in Europe joined the race for influence in the US’s gambling market.

The operators saw the massive potential of the US market for revenue growth. Leading European firms, including Bet365, William Hill, 888, and Unibet, now have a foothold in the US’s fresh gambling market.

Market experts projected the US’s sports betting market on growing to $19 billion in revenues by 2023. The figure excluded the projected bets of $150 billion every year on illegal sports gambling. Many European companies worked with local gaming companies to cement their presence in the US.

GVC Holdings, the owner of European bookmaking companies including Ladbrokes and Bwin, joined forces with MGM International to operate bricks and mortar casinos and an online casino. The merger launched the BetMGM in Colorado, New Jersey, Indiana, and West Virginia.

Expansion in the US States

US states are now welcoming sports betting and see it as an alternative source of revenue. Legal online sportsbooks provided funds for states with regulation for sports betting during the fight against the novel coronavirus.

With the fast development in technology, sportsbooks are expected to continue rising in popularity.

Its accessibility and convenience of placing your bets in the comfort of the gambler’s home add to its appeal.

The novel coronavirus created a new behavior for gamblers. Those who don’t have access to sports betting in the past now have unlimited access to place their bets on sports betting platforms. Technology allowed people who are busy with their daily lives to have access to sports betting.

People looked for an alternative source of entertainment during the lockdowns. Sports betting and online casinos provided for the need and cemented their influence in the future of gaming.

European bookmakers are now grabbing the chance to exploit the demand for sports betting.

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