British gambling operators are now eyeing the market across the Atlantic as US Gambling market opens up to sports betting and bigger iGaming opportunity. The US markets are offering impressive growth opportunities while authorities at home continue to stifle revenues for these firms.

Expanding US wagering and iGaming market

The US sports betting and iGaming market has experienced exceptional growth in the past couple of years because of which gambling operators from the UK are planning to jump across the Atlantic. One of the recent entrants in the British market is Bet365 which launched in New Jersey, the most promising market in the US with the highest wagering volumes in the country. The state set a record for wagers thrice this year.

William Hill, the British sportsbook has also launched its offerings in New Jersey. It has expanded to Nevada, Illinois, West Virginia, and Iowa as well. It is also eyeing the potential of entering 24 additional states in the US.

Why does the US market attract British firms?

The US sports betting market was mostly limited to Nevada and Atlantic City. In 2018, the state of New Jersey launched a successful legal campaign to strike down PASPA and open the way for other states to form their own legal sports betting markets. Since then, a couple of dozen states have shown keen interest in the sector and have taken serious action on making sports betting available to their citizens. Several states were forced to rethink their concept of sports betting after the coronavirus pandemic left them reeling.

The market is witnessing domination from DraftKings and FanDuel but the British firms are also establishing themselves firmly in the US. They are facing more regulatory strictness in the UK because of which revenues are declining. The government’s actions on promoting better player protections and reducing the maximum bets on video terminals. The US market, on the other hand, is seeing phenomenal growth, with more states like South Dakota, Michigan, and Louisiana planning to legalize sports betting soon.