It's high stakes for UK firms as sports wagering starts to spread out in America.
From Tuesday, brand-new guidelines on wagering entered into impact in Delaware, a tiny east coast state about 2 hours from Washington.
Neighbouring New Jersey could begin accepting sports bets as early as Friday.
The modifications are the very first in what might become a wave of legalisation after the Supreme Court last month cleared the way for states to enable sports wagering.
The industry sees a "once in a generation" chance to develop a brand-new market in sports-mad America, said Dublin-based monetary expert David Jennings, who heads leisure research at Davy.
For UK companies, which are coming to grips with debt consolidation, increased online competitors and tougher guidelines from UK regulators, the timing is particularly opportune.
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But the market says depending on the US remains a dangerous bet, as UK business face complicated state-by-state policy and competitors from established local interests.
"It's something that we're truly focusing on, however equally we don't desire to overhype it," said James Midmer, representative at Paddy Power Betfair, which recently purchased the US fantasy sports site FanDuel.
'Require time'
The US represented about 23% of the world's $244bn (₤ 182bn) in video gaming profits in 2015, according to a report by Technavio, external released in January.
Firms are intending to take advantage of more of that activity after last month's choice, which overruled a 1992 federal law that disallowed 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 in fact legalise sports betting, leaving that concern to local lawmakers.
That is anticipated to lead to significant variation in how firms get certified, where sports betting wagering can happen, and which occasions are open to speculation - with big implications for the size of the market.
Potential earnings ranges from $4.2 bn to almost $20bn every year depending upon aspects like how many states relocate to legalise, Oxford Economics estimated in a 2017 research study for the American Gaming Association.
"There was a lot of 'this is going to be substantial'", said 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 time'."
'Remains to be seen"
Chris Grove, handling director at Eilers & Krejcik Gaming, anticipates that 32 states will legalise sports wagering in some kind by 2023, creating a market with about $6bn in annual earnings.
But bookies deal with a far various landscape in America than they do in the UK, where wagering shops are a regular sight.
US laws limited gaming mainly to Native American lands and Nevada's Las Vegas strip till relatively just recently.
In the popular creativity, sports betting has actually long been connected to a 1919 baseball World Series match-fixing scandal.
States have actually likewise been slow to legalise lots of types of online gambling, regardless of a 2011 Justice Department opinion that appeared to eliminate obstacles.
While sports betting is typically viewed in its own category, "it clearly remains to be seen whether it gets the sort of momentum people believe it will," said Keith Miller, law professor at Drake University and co-author of a book about sports betting regulation.
David Carruthers is the previous primary executive of BetonSports, who was arrested in the US in 2006 for running an overseas online sportsbook and served jail time.
Now a consultant, he says UK companies ought to approach the market carefully, choosing partners with caution and avoiding mistakes that might result in regulator backlash.
"This is a chance for the American sports betting wagerer ... I'm not exactly sure whether it is an opportunity for organization," he says. "It truly is reliant on the outcome of [state] legislation and how business operators pursue the chance."
'It will be collaborations'
As legalisation begins, sports wagering firms are lobbying to fend off high tax rates, in addition to demands by US sports betting leagues, which wish to gather a portion of income as an "integrity fee".
International companies deal with the included difficulty of an effective existing video gaming industry, with gambling establishment operators, state-run lottery games and Native American people that are looking for to defend their grass.
Analysts say UK firms will require to strike collaborations, providing their expertise and technology in order to make inroads.
They indicate SBTech's current statement that it is offering technology for Kentucky Derby operator Churchill Downs as an example of the type of deals most likely to materialise.
"It will be a win-win for everybody, however it will be partnerships and it will be driven by innovation," Mr Hawkley stated.
'It will simply depend'
Joe Asher, president at William Hill US, is clear-eyed about the realities.
The business has actually been investing in the US market since 2011, when it purchased 3 US firms to establish a presence in Nevada.
William Hill now uses about 450 people in the US and has announced collaborations with casinos in Iowa and New Jersey.
It works as danger supervisor for the Delaware Lottery and has actually 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 all over.
"We certainly mean to have a very significant brand existence in New Jersey," he stated. "In other states, it will simply depend upon regulation and possibly who our local partner is."
"The US is going to be the greatest sports betting wagering market on the planet," he added. "Obviously that's not going to occur on day one."
