It's high stakes for UK firms as sports wagering starts to spread in America.

From Tuesday, new guidelines on wagering entered into impact 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 modifications are the first in what could become a wave of legalisation after the Supreme Court last month cleared the method for states to enable sports betting.

The market sees a "as soon as 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 grappling with debt consolidation, increased online competition and harder guidelines from UK regulators, the timing is particularly suitable.

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But the market says depending on the US remains a risky bet, as UK companies face complex state-by-state policy and competition from entrenched local interests.

"It's something that we're actually concentrating on, however similarly we don't wish to overhype it," said James Midmer, spokesman at Paddy Power Betfair, which recently purchased the US dream sports site FanDuel.

'Take time'

The US accounted for about 23% of the world's $244bn (₤ 182bn) in gaming income in 2015, according to a report by Technavio, external released in January.

Firms are wishing to use more of that activity after last month's choice, which struck down a 1992 federal law that barred states outside of Nevada and a few others from authorising sports wagering.

The ruling found 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 anticipated to lead to significant variation in how companies get accredited, where sports wagering can take place, and which events are open to speculation - with huge implications for the size of the marketplace.

Potential earnings ranges from $4.2 bn to almost $20bn yearly depending upon elements like how many states transfer 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 huge'", stated Will Hawkley, London-based head of leisure for specialists KPMG.

Now, he stated: "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 require time'."

'Remains to be seen"

Chris Grove, managing director at Eilers & Krejcik Gaming, anticipates that 32 states will legalise sports betting in some kind by 2023, producing a market with about $6bn in annual revenue.

But bookmakers deal with a far various landscape in America than they carry out in the UK, where wagering stores are a frequent sight.

US laws minimal betting mainly to Native American lands and Nevada's Las Vegas strip up until relatively 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 sluggish to legalise many forms of online betting, despite a 2011 Justice Department viewpoint that appeared to eliminate challenges.

While sports betting is usually seen in its own category, "it plainly remains to be seen whether it gets the type of momentum individuals think it will," stated Keith Miller, law professor at Drake University and co-author of a book about sports betting guideline.

David Carruthers is the former chief executive of BetonSports, who was apprehended in the US in 2006 for running an offshore online sportsbook and served jail time.

Now an expert, he says UK companies should approach the marketplace thoroughly, selecting partners with caution and avoiding missteps that could cause regulator reaction.

"This is a chance for the American sports bettor ... I'm unsure whether it is a chance for service," he states. "It actually depends on the result of [state] legislation and how business operators pursue the opportunity."

'It will be collaborations'

As legalisation starts, sports wagering companies are lobbying to fend off high tax rates, along with requests by US sports leagues, which wish to gather a percentage of income as an "integrity cost".

International companies face the added obstacle of a powerful existing video gaming market, with gambling establishment operators, state-run lottos and Native American people that are seeking to protect their grass.

Analysts state UK firms will require to strike collaborations, offering their know-how and technology in order to make inroads.

They point to SBTech's current statement that it is supplying technology for Kentucky Derby operator Churchill Downs as an example of the type of offers most likely to materialise.

"It will be a win-win for everybody, but it will be partnerships and it will be driven by technology," Mr Hawkley said.

'It will just depend'

Joe Asher, president at William Hill US, is clear-eyed about the realities.

The company has actually been purchasing the US market because 2011, when it purchased three US companies to develop a presence in Nevada.

William Hill now utilizes about 450 individuals in the US and has announced partnerships with gambling establishments in Iowa and New Jersey.

It works as risk supervisor for the Delaware Lottery and has actually invested millions together with a regional developer in a New Jersey horse racing track.

Mr Asher said William Hill has become a home name in Nevada however that's not necessarily the objective everywhere.

"We certainly plan to have an extremely substantial brand presence in New Jersey," he said. "In other states, it will just depend on regulation and potentially who our regional partner is."

"The US is going to be the greatest sports wagering market worldwide," he included. "Obviously that's not going to happen on the first day."