It's high stakes for UK companies as sports wagering starts to spread out in America.
From Tuesday, new guidelines on wagering came into impact in Delaware, a tiny east coast state about 2 hours from Washington.
Neighbouring New Jersey might begin accepting sports bets as early as Friday.
The changes are the first in what could end up being a wave of legalisation after the Supreme Court last month cleared the method for states to allow sports betting.
The industry sees a "once in a generation" opportunity to develop a brand-new market in sports betting-mad America, said Dublin-based monetary analyst David Jennings, who heads leisure research study at Davy.
For UK firms, which are grappling with consolidation, increased online competitors and harder guidelines from UK regulators, the timing is particularly suitable.
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But the industry states counting on the US stays a dangerous bet, as UK business face complicated state-by-state guideline and competitors from entrenched regional interests.
"It's something that we're actually focusing on, however equally we don't wish to overhype it," said James Midmer, spokesman at Paddy Power Betfair, which just recently purchased the US dream sports website FanDuel.
'Take some time'
The US represented about 23% of the world's $244bn (₤ 182bn) in video gaming profits last year, according to a report by Technavio, external released in January.
Firms are intending to use more of that activity after last month's choice, which struck down a 1992 federal law that barred states outside of 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 wagering, leaving that question to regional legislators.
That is expected to cause substantial variation in how firms get accredited, where sports betting wagering can occur, and which events are open to speculation - with big ramifications for the size of the market.
Potential revenue ranges from $4.2 bn to almost $20bn every year depending on elements like the number of states relocate to legalise, Oxford Economics approximated in a 2017 research study for the American Gaming Association.
"There was a great deal of 'this is going to be huge'", said Will Hawkley, London-based head of leisure for experts KPMG.
Now, he said: "I believe 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 require time'."
'Remains to be seen"
Chris Grove, handling director at Eilers & Krejcik Gaming, anticipates that 32 states will legalise sports betting wagering in some kind by 2023, creating a market with about $6bn in yearly earnings.
But bookmakers face a far different landscape in America than they carry out in the UK, where betting stores are a frequent sight.
US laws minimal gambling mainly to Native American lands and Nevada's Las Vegas strip up until relatively recently.
In the popular creativity, sports betting has long been connected to a 1919 baseball World Series match-fixing scandal.
States have actually also been sluggish to legalise many kinds of online gaming, in spite of a 2011 Justice Department viewpoint that appeared to eliminate challenges.
While sports betting is typically seen in its own category, "it plainly remains to be seen whether it gets the kind of momentum individuals believe it will," stated Keith Miller, law professor at Drake University and co-author of a book about sports wagering guideline.
David Carruthers is the former primary executive of BetonSports, who was arrested in the US in 2006 for running an overseas online sportsbook and served prison time.
Now a specialist, he states UK companies should approach the market carefully, choosing partners with caution and avoiding bad moves that might result in regulator backlash.
"This is an opportunity for the American sports wagerer ... I'm not exactly sure whether it is an opportunity for business," he states. "It really depends on the result of [state] legislation and how the company operators pursue the chance."
'It will be collaborations'
As legalisation begins, sports betting firms are lobbying to ward off high tax rates, in addition to requests by US sports leagues, which want to collect a portion of income as an "stability cost".
International companies face the added difficulty of a powerful existing gaming market, with casino operators, state-run lotteries and Native American people that are seeking to defend their turf.
Analysts say UK firms will need to strike partnerships, providing their competence and technology in order to make inroads.
They point to SBTech's recent statement that it is providing innovation for Kentucky Derby operator Churchill Downs as an example of the sort of offers most likely to materialise.
"It will be a win-win for everybody, but it will be partnerships 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 realities.
The company has actually been purchasing the US market considering that 2011, when it purchased three US companies to develop a presence in Nevada.
William Hill now employs about 450 individuals in the US and has revealed collaborations with casinos in Iowa and New Jersey.
It works as risk manager for the Delaware Lottery and has actually invested millions alongside a local developer in a New Jersey horse racing track.
Mr Asher stated William Hill has actually become a family name in Nevada however that's not necessarily the objective all over.
"We certainly mean to have a really significant brand existence in New Jersey," he stated. "In other states, it will just depend on regulation and potentially who our regional partner is."
"The US is going to be the biggest sports wagering market worldwide," he included. "Obviously that's not going to occur on the first day."
