Betting General News

Betfred Set to Make US Sports Betting Debut

US gambling revenues

Top UK bookie Betfred is going to launch its services in the US sports betting market soon. The products by the company will debut during the Betting on Sports America 2019 Conference in New Jersey. Betfred’s entry into the US market will herald a new era of sports betting revolution that the country hasn’t witnessed before.

The British heavyweight has partnered with SCCG Management, a Las Vegas-based company to represent it on the American market. Now, SCCG will explain the history of the British company as well to prospective partners. It will also promote Betfred’s OptimaMGS platform. This software tool will help US-based operators to provide a regulated betting market along the lines of the UK market.

It is designed to help the company take a leap across the Atlantic like its competitors. One of its main rivals is William Hill, which was present in Nevada long before the Professional and Amateur Sports Protection Act (PASPA) was struck down by the US Supreme Court. The bookmaker has had a significant advantage over its peers. It has started a new deal American casino brand Golden Entertainment.

Another British bookmaker, GVC, has also been working hard to enter the US market in the aftermath of the strike down. The company has partnered with MGM Resorts to secure its place in the American markets via a £156 million investment. It is prominently present in the New Jersey market as well as other states that have legalized sports betting.

Betfred’s products will be on display between April 23 and April 25 during the Betting on Sports America 2019 convention. The conference will witness 60 exhibitors at the Meadowlands Exposition Center in New Jersey. The event is described as the largest dedicated sports betting trade show in the US. New Jersey was the state that spearheaded a legal battle against PASPA and making an impression this week during the betting event could help Betfred unlock new doors for expansion. The UK market is tightening regulations, and the newly liberalized US market could provide a lucrative opportunity to the bookmaker.

Betfred is facing many challenges in the British market owing to FOBT losses. The government ordered these fixed odds betting machines to reduce maximum stakes from £100 to £2. The new rule was enforced on April 1, curbing the company’s revenue stream.

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