It's high stakes for UK firms as sports betting wagering starts to spread in America.
From Tuesday, new guidelines on betting came into result in Delaware, a tiny east coast state about two hours from Washington.
Neighbouring New Jersey might start accepting sports betting 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 allow sports betting.
The industry sees a "when in a generation" chance to develop a new market in sports betting-mad America, said Dublin-based monetary analyst David Jennings, who heads leisure research at Davy.
For UK firms, which are grappling with consolidation, increased online competition and harder guidelines from UK regulators, the timing is especially appropriate.
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But the market says relying on the US remains a risky bet, as UK companies deal with complicated state-by-state regulation and competitors from established local interests.
"It's something that we're actually concentrating on, however similarly we do not wish to overhype it," said James Midmer, representative at Paddy Power Betfair, which recently purchased the US fantasy sports 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 take advantage of more of that activity after last month's choice, which struck down a 1992 federal law that disallowed states beyond Nevada and a few others from authorising sports betting.
The judgment discovered the law was an over-reach of federal power. But the court it did not really legalise sports betting, leaving that question to local legislators.
That is expected to cause significant variation in how companies get certified, where sports betting can take place, and which events are open to speculation - with big implications for the size of the market.
Potential profits ranges from $4.2 bn to nearly $20bn yearly depending on factors like the number of states relocate to legalise, Oxford Economics approximated in a 2017 study for the American Gaming Association.
"There was a lot of 'this is going to be huge'", said Will Hawkley, London-based head of leisure for consultants KPMG.
Now, he said: "I think the majority of people ... are taking a look at this as, 'it's a chance 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, managing director at Eilers & Krejcik Gaming, anticipates that 32 states will legalise sports wagering in some form by 2023, developing a market with about $6bn in yearly profits.
But bookies face a far different landscape in America than they do in the UK, where wagering shops are a frequent sight.
US laws minimal gaming mainly to Native American lands and Nevada's Las Vegas strip up until reasonably just recently.
In the popular imagination, sports betting has actually long been linked to a 1919 baseball World Series match-fixing scandal.
States have likewise been sluggish to legalise many kinds of online gambling, despite a 2011 Justice Department opinion that appeared to remove obstacles.
While sports betting wagering is usually viewed in its own category, "it plainly stays to be seen whether it gets the kind of momentum people believe it will," stated Keith Miller, law teacher at Drake University and co-author of a book about sports betting wagering policy.
David Carruthers is the previous president of BetonSports, who was apprehended in the US in 2006 for running an overseas online sportsbook and served prison time.
Now an expert, he states UK firms ought to approach the market carefully, selecting partners with care and avoiding mistakes that could lead to regulator reaction.
"This is an opportunity for the American sports betting bettor ... I'm uncertain whether it is a chance for company," he states. "It actually depends on the outcome of [state] legislation and how the business operators pursue the opportunity."
'It will be collaborations'
As legalisation begins, sports wagering companies are lobbying to fend off high tax rates, in addition to requests by US sports leagues, which want to collect a percentage of revenue as an "integrity charge".
International business deal with the added challenge of an effective existing video gaming industry, with casino operators, state-run lottery games and Native American people that are seeking to safeguard their turf.
Analysts state UK firms will need to strike collaborations, providing their know-how and technology in order to make inroads.
They indicate SBTech's recent announcement that it is supplying innovation for Kentucky Derby operator Churchill Downs as an example of the kind of offers 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 said.
'It will simply depend'
Joe Asher, primary executive at William Hill US, is clear-eyed about the truths.
The business has actually been purchasing the US market since 2011, when it bought three US firms to develop a presence in Nevada.
William Hill now uses about 450 individuals in the US and has actually announced partnerships with casinos in Iowa and New Jersey.
It works as danger supervisor for the Delaware Lottery and has actually invested millions along with a regional designer in a New Jersey horse racing track.
Mr Asher said William Hill has actually ended up being a household name in Nevada however that's not always the objective all over.
"We certainly plan to have an extremely substantial brand presence in New Jersey," he said. "In other states, it will simply depend upon policy and possibly who our regional 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 occur on the first day."
