Posts Tagged ‘Sport’

Sports betting to be legalized in the US means massive surge in value for UK bookmakers

In a landmark decision sports betting is to be made legal after the US supreme court struck down a nationwide ban that has been around for 26 years. New Jersey had made the challenge that the Professional and Amateur Sport Protection Act of 1992 was unconstitutional.

London-listed firms such as 888, Paddy Power Betfair and William Hill, surged to more than £1.5bn after the ruling had been made, shares in 888 which operates an online poker network surged more than any other company gaining 15%.
The main advantages of this include greater security for consumers and sports leagues, states can benefit from raising of taxes and over 100,000 jobs could be created.

Geoff Freeman, the president of the American Gaming Association (AGA), said: “Today’s decision is a victory for the millions of Americans who seek to bet on sports in a safe and regulated manner.”

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