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The US sports betting market could soon be unshackled and offer William Hill a lifeline as the UK Government’s crackdown on fixed-odds betting terminals (FOBTs) looms, Bank of America Merrill Lynch told clients in a move that helped the bookie rise towards the top of the FTSE 250.
Sports betting in the US is legal in just four states but New Jersey’s challenge to the ban will be heard by the Supreme Court next year and William Hill’s chief executive Philip Bowcock has noted that the court has overturned on average 70pc of the cases it has reviewed.
William Hill dominates sports betting in Nevada, with a 55pc share of the market, and could make similar inroads across the east coast and beyond if a favourable ruling in ?New Jersey paves the way for other regions to reconsider bans,cheap jordans for sale,http://users.atw.hu/hsy/index.php?site=forum_topic&topic=13845cheapjordanshoesfreeshipping.com/bolg, analyst David Holmes argued as he upgraded its shares to “buy”.
Investors have been unwilling to take a punt on the UK’s bookies until the Government’s 12-week consultation on the sector is completed with the review set to decide whether to slash the current maximum bet on FOBTs from ?100.
With the UK’s uncertainty soon coming to an end, investors can begin to turn their attention to the potential liberalisation of sports betting in the US and momentum is gathering behind regulatory change across the pond, Mr Holmes added to boost William Hill 11.3p, or 4.3pc,cheap wholesale jordans, to 272.1p.