Bet365 launched its sportsbook in Colorado earlier this month. It is just one of several UK bookie firms that are venturing into the United States. The company is also operating in New Jersey, which recently achieved a national record for most wagers on sports in 2020.
Another UK firm, William Hill, operates in Colorado, New Jersey, Iowa, Illinois, West Virginia, and Nevada. It also has the potential to operate in 24 other states. According to sports betting software reports, players bet $932 million in New Jersey in November. The state restricted in-person wagering during that month.
Sports betting has become more popular since the US Supreme Court overruled the PASPA, which banned sports betting except for several locations in Atlantic City and Las Vegas. The change in federal law allowed states to decide whether they want to make sports betting legal or not.
UK Bookie Firms in the US
DraftKings and FanDuel dominated the US sports betting markets as they transitioned their operations from Daily Fantasy Sports to sports wagering. According to pay per head reports, the two companies benefited from their existing player base and brand recognition.
However, UK bookies firms are challenging the two companies’ dominance of the sports betting sector. William Hill took over Caesars in November 2020 to increase its share of the US market. On the other hand, Bet365 signed a deal with Major League Baseball to become the latter’s official sports betting operator.
New Jersey is the most lucrative sports betting market in the US. Its handles are higher than that of Nevada. It was due to the restrictions imposed on online gambling in Nevada. Players had to sign-up, deposit, and withdraw money in-person. In New Jersey, players can do everything online.
Players want to find the best bookie software. That’s what UK bookie companies have to offer. Also, they have more experience offering sports wagering in more significant markets worldwide.