It's high stakes for UK firms as sports betting starts to spread out in America.
From Tuesday, new rules on wagering came into impact in Delaware, a small east coast state about two hours from Washington.
Neighbouring New Jersey might start accepting sports bets as early as Friday.
The modifications 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 permit sports wagering.
The industry sees a "as soon as in a generation" opportunity to develop a brand-new market in sports-mad America, stated Dublin-based financial expert David Jennings, who heads leisure research study at Davy.
For UK firms, which are grappling with debt consolidation, increased online competition and harder rules from UK regulators, the timing is particularly opportune.
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But the market states depending on the US remains a dangerous bet, as UK business face complicated state-by-state regulation and competition from established regional interests.
"It's something that we're really concentrating on, but equally we don't desire to overhype it," stated James Midmer, spokesperson at Paddy Power Betfair, which just recently acquired the US fantasy sports betting website FanDuel.
'Take time'
The US represented about 23% of the world's $244bn (₤ 182bn) in gaming income last year, according to a report by Technavio, external published in January.
Firms are intending to tap into more of that activity after last month's choice, which overruled a 1992 federal law that disallowed states outside of Nevada and a few others from authorising sports betting.
The ruling found 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 anticipated to lead to substantial variation in how firms get certified, where sports wagering can happen, and which events are open to speculation - with big ramifications for the size of the marketplace.
Potential earnings ranges from $4.2 bn to nearly $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 lot of 'this is going to be huge'", stated Will Hawkley, London-based head of leisure for experts KPMG.
Now, he said: "I believe the majority of people ... are taking a look at this as, 'it's an opportunity but 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, managing director at Eilers & Krejcik Gaming, forecasts that 32 states will legalise sports betting wagering in some type by 2023, producing a market with about $6bn in annual earnings.
But bookmakers deal with a far different landscape in America than they do in the UK, where wagering stores are a frequent sight.
US laws restricted betting mostly to Native American lands and Nevada's Las Vegas strip up until relatively recently.
In the popular creativity, sports betting has long been linked to a 1919 baseball World Series match-fixing scandal.
States have actually likewise been sluggish to legalise many kinds of online gaming, despite a 2011 Justice Department opinion that appeared to get rid of obstacles.
While sports wagering is typically viewed in its own classification, "it plainly stays 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 betting wagering regulation.
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 an expert, he states UK firms must approach the market thoroughly, choosing partners with caution and avoiding mistakes that could cause regulator reaction.
"This is an opportunity for the American sports betting bettor ... I'm not sure whether it is a chance for business," he says. "It really depends on the outcome of [state] legislation and how business operators pursue the chance."
'It will be partnerships'
As legalisation begins, sports betting firms are lobbying to fend off high tax rates, along with demands by US sports betting leagues, which want to collect a portion of profits as an "integrity charge".
International companies deal with the included obstacle of an effective existing video gaming market, with gambling establishment operators, state-run lottos and Native American people that are seeking to safeguard their turf.
Analysts state UK companies will require to strike collaborations, offering their expertise and innovation in order to make inroads.
They indicate SBTech's recent announcement that it is offering innovation for Kentucky Derby operator Churchill Downs as an example of the kind of deals 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, chief executive at William Hill US, is clear-eyed about the truths.
The business has been investing in the US market considering that 2011, when it acquired 3 US firms to establish an existence in Nevada.
William Hill now uses about 450 individuals in the US and has actually 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 regional developer in a New Jersey horse racing track.
Mr Asher stated William Hill has become a family name in Nevada however that's not necessarily the objective everywhere.
"We certainly intend to have an extremely considerable brand name existence in New Jersey," he said. "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 included. "Obviously that's not going to happen on the first day."
