It's high stakes for UK companies as sports betting starts to spread in America.
From Tuesday, brand-new guidelines on wagering entered into effect in Delaware, a small east coast state about 2 hours from Washington.
Neighbouring New Jersey could begin accepting sports bets as early as Friday.
The changes are the very 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 wagering.
The market sees a "once in a generation" opportunity to establish a new market in sports-mad America, said Dublin-based monetary analyst David Jennings, who heads leisure research study at Davy.
For UK companies, which are facing consolidation, increased online competitors and harder guidelines from UK regulators, the timing is especially opportune.
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But the market says depending on the US remains a dangerous bet, as UK companies face complex state-by-state guideline and competition from established regional interests.
"It's something that we're truly focusing on, however similarly we don't wish to overhype it," said James Midmer, spokesman at Paddy Power Betfair, which recently acquired the US fantasy 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 published in January.
Firms are intending to take advantage of more of that activity after last month's choice, which struck down a 1992 federal law that barred states beyond Nevada and a couple of others from authorising sports wagering.
The ruling discovered the law was an over-reach of federal power. But the court it did not really legalise sports betting, leaving that concern to local lawmakers.
That is expected to lead to substantial variation in how firms get accredited, where sports wagering can happen, and which events are open to speculation - with huge implications for the size of the market.
Potential income varieties from $4.2 bn to nearly $20bn annually depending upon factors like how numerous states transfer 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'", stated Will Hawkley, London-based head of leisure for experts KPMG.
Now, he stated: "I believe the majority of people ... are looking 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 some time'."
'Remains to be seen"
Chris Grove, handling director at Eilers & Krejcik Gaming, forecasts that 32 states will legalise sports wagering in some type by 2023, developing a market with about $6bn in annual revenue.
But bookmakers face a far different landscape in America than they do in the UK, where wagering stores are a frequent sight.
US laws restricted gambling mainly to Native American lands and Nevada's Las Vegas strip until reasonably recently.
In the popular creativity, sports betting has long been connected to a 1919 baseball World Series match-fixing scandal.
States have actually likewise been sluggish to legalise lots of types of online gambling, regardless of a 2011 Justice Department viewpoint that appeared to eliminate barriers.
While sports betting is generally seen in its own classification, "it clearly stays to be seen whether it gets the type of momentum people believe it will," said Keith Miller, law teacher at Drake University and co-author of a book about sports 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 prison time.
Now a specialist, he says UK firms should approach the market carefully, picking partners with caution and preventing errors that might lead to regulator reaction.
"This is a chance for the American sports gambler ... I'm not sure whether it is an opportunity for organization," he says. "It really is reliant on the result of [state] legislation and how business operators pursue the opportunity."
'It will be collaborations'
As legalisation begins, sports betting companies are lobbying to ward off high tax rates, in addition to demands by US sports leagues, which wish to gather a percentage of income as an "stability cost".
International companies deal with the included obstacle of a powerful existing gaming market, with gambling establishment operators, state-run lotteries and Native American tribes that are looking for to safeguard their grass.
Analysts state UK companies will require to strike collaborations, offering their know-how and technology in order to make inroads.
They indicate SBTech's current statement that it is providing technology for Kentucky Derby operator Churchill Downs as an example of the sort of deals most likely to materialise.
"It will be a win-win for everybody, but it will be collaborations and it will be driven by innovation," Mr Hawkley said.
'It will just depend'
Joe Asher, president at William Hill US, is clear-eyed about the realities.
The business has been investing in the US market given that 2011, when it bought three US companies to establish a presence in Nevada.
William Hill now employs about 450 individuals in the US and has announced collaborations 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 become a family name in Nevada however that's not necessarily the goal everywhere.
"We certainly intend to have a really significant brand presence in New Jersey," he stated. "In other states, it will simply depend on guideline and possibly who our local partner is."
"The US is going to be the most significant sports wagering market in the world," he added. "Obviously that's not going to occur on day one."
