It's high stakes for UK companies as sports betting starts to spread out 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 could start accepting sports betting bets as early as Friday.

The changes are the very first in what could become a wave of legalisation after the Supreme Court last month cleared the method for states to allow sports betting wagering.

The industry sees a "once in a generation" opportunity to establish a new market in sports betting-mad America, said Dublin-based financial expert David Jennings, who heads leisure research study at Davy.

For UK companies, which are facing consolidation, increased online competitors and harder guidelines from UK regulators, the timing is especially suitable.

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But the industry says counting on the US stays a risky bet, as UK companies face complicated state-by-state guideline and competitors from established regional interests.

"It's something that we're actually focusing on, but equally we don't want to overhype it," stated James Midmer, spokesperson at Paddy Power Betfair, which just recently bought the US fantasy sports site FanDuel.

'Take time'

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

Firms are wishing to use more of that activity after last month's decision, which overruled a 1992 federal law that barred 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 in fact legalise sports betting, leaving that question to regional legislators.

That is anticipated to cause substantial variation in how companies get certified, where sports betting can take place, and which events are open to speculation - with big ramifications for the size of the marketplace.

Potential revenue varieties from $4.2 bn to nearly $20bn annually depending upon elements like the number of states transfer to legalise, Oxford Economics approximated in a 2017 study for the American Gaming Association.

"There was a lot of 'this is going to be big'", stated Will Hawkley, London-based head of leisure for consultants KPMG.

Now, he said: "I believe 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 require time'."

'Remains to be seen"

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

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

US laws restricted betting largely to Native American lands and Nevada's Las Vegas strip till reasonably just recently.

In the popular creativity, sports betting has actually long been connected to a 1919 baseball World Series match-fixing scandal.

States have likewise been slow to legalise numerous types of online gaming, despite a 2011 Justice Department opinion that appeared to remove barriers.

While sports betting wagering is generally viewed in its own classification, "it plainly remains to be seen whether it gets the type 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 former president of BetonSports, who was jailed in the US in 2006 for running an offshore online sportsbook and served jail time.

Now a consultant, he states UK firms must approach the market thoroughly, selecting partners with care and preventing errors that could cause regulator reaction.

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

'It will be collaborations'

As legalisation begins, sports betting wagering companies are lobbying to ward off high tax rates, along with requests by US sports betting leagues, which desire to collect a portion of income as an "integrity cost".

International companies face the included challenge of a powerful existing gaming industry, with casino operators, state-run lottery games and Native American people that are looking for to protect their turf.

Analysts say UK firms will require to strike collaborations, offering their competence and innovation in order to make inroads.

They indicate SBTech's recent statement that it is providing technology for Kentucky Derby operator Churchill Downs as an example of the type of deals likely to materialise.

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

'It will simply depend'

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

The business has been buying the US market since 2011, when it bought 3 US companies to establish a presence in Nevada.

William Hill now uses about 450 people in the US and has announced collaborations with gambling establishments in Iowa and New Jersey.

It works as danger manager for the Delaware Lottery and has actually invested millions along with a local developer in a New Jersey horse racing track.

Mr Asher said William Hill has ended up being a home name in Nevada however that's not necessarily the goal everywhere.

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

"The US is going to be the biggest sports wagering market on the planet," he included. "Obviously that's not going to happen on day one."