It's high stakes for UK firms as sports betting wagering starts to spread in America.
From Tuesday, new guidelines on betting entered into effect in Delaware, a small east coast state about 2 hours from Washington.
Neighbouring New Jersey might begin accepting sports betting bets as early as Friday.
The modifications are the first in what might end up being a wave of legalisation after the Supreme Court last month cleared the way for states to allow sports betting wagering.
The industry sees a "as soon as in a generation" chance to develop a new market in sports betting-mad America, said Dublin-based monetary expert David Jennings, who heads leisure research study at Davy.
For UK companies, which are grappling with combination, increased online competition and tougher rules from UK regulators, the timing is especially suitable.
Why the gaming market deals with an unsure future
How does unlawful sports betting wagering work and what are the fears?
But the market says relying on the US remains a dangerous bet, as UK business deal with complicated state-by-state policy and competition from established local interests.
"It's something that we're truly concentrating on, but similarly we do not wish to overhype it," stated James Midmer, spokesman at Paddy Power Betfair, which just recently bought the US fantasy sports betting website FanDuel.
'Take some time'
The US represented about 23% of the world's $244bn (₤ 182bn) in gaming earnings last year, according to a report by Technavio, external released in January.
Firms are hoping to use more of that activity after last month's choice, which struck down a 1992 federal law that disallowed states beyond Nevada and a couple of others from authorising sports betting wagering.
The judgment discovered the law was an over-reach of federal power. But the court it did not actually legalise sports betting, leaving that concern to regional legislators.
That is expected to result in significant variation in how companies get certified, where sports wagering can happen, and which occasions are open to speculation - with big implications for the size of the market.
Potential profits varieties from $4.2 bn to practically $20bn every year depending upon factors like the number of states transfer to legalise, Oxford Economics approximated in a 2017 study for the American Gaming Association.
"There was a lot of 'this is going to be substantial'", said Will Hawkley, London-based head of leisure for consultants KPMG.
Now, he stated: "I think the majority of people ... are taking a look at this as, 'it's an opportunity however it's not going to be $20bn and it's going to be state by state and it's going to take time'."
'Remains to be seen"
Chris Grove, handling director at Eilers & Krejcik Gaming, forecasts that 32 states will legalise sports betting in some type by 2023, developing a market with about $6bn in annual income.
But bookies face a far various landscape in America than they do in the UK, where wagering stores are a regular sight.
US laws limited betting mainly to Native American lands and Nevada's Las Vegas strip till reasonably just recently.
In the popular imagination, sports betting wagering has long been connected to a 1919 baseball World Series match-fixing scandal.
States have actually also been slow to legalise numerous types of online gambling, in spite of a 2011 Justice Department viewpoint that appeared to remove barriers.
While sports betting is typically seen in its own classification, "it clearly remains to be seen whether it gets the kind of momentum individuals think it will," stated Keith Miller, law teacher at Drake University and co-author of a book about sports betting wagering policy.
David Carruthers is the previous primary executive of BetonSports, who was detained in the US in 2006 for running an offshore online sportsbook and served jail time.
Now a specialist, he says UK firms ought to approach the market thoroughly, choosing partners with caution and avoiding bad moves that could cause regulator backlash.
"This is a chance for the American sports betting gambler ... I'm not sure whether it is a chance for company," he states. "It truly is dependent on the result of [state] legislation and how the service operators pursue the opportunity."
'It will be collaborations'
As legalisation begins, sports betting firms are lobbying to fend off high tax rates, in addition to requests by US sports leagues, which wish to gather a percentage of earnings as an "stability charge".
International companies deal with the added challenge of an effective existing gaming industry, with casino operators, state-run lottery games and Native American tribes that are looking for to safeguard their turf.
Analysts say UK companies will require to strike partnerships, offering their expertise and innovation in order to make inroads.
They indicate SBTech's current announcement that it is supplying innovation for Kentucky Derby operator Churchill Downs as an example of the sort of deals likely to materialise.
"It will be a win-win for everybody, but it will be partnerships and it will be driven by technology," Mr Hawkley stated.
'It will just depend'
Joe Asher, president at William Hill US, is clear-eyed about the realities.
The business has actually been investing in the US market given that 2011, when it bought three US companies to develop an existence 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 danger manager for the Delaware Lottery and has invested millions alongside a local developer in a New Jersey horse racing track.
Mr Asher stated William Hill has actually ended up being a family name in Nevada but that's not necessarily the goal all over.
"We definitely mean to have a really significant brand presence in New Jersey," he stated. "In other states, it will simply depend on policy and possibly who our regional partner is."
"The US is going to be the most significant sports betting wagering market worldwide," he included. "Obviously that's not going to occur on day one."
