Betfair from USA

A place to discuss anything.
mobius
Posts: 203
Joined: Wed Oct 18, 2017 10:15 am

The Supreme Court ruled to let states legalize sports gambling. CNNMoney's Ahiza Garcia spoke to DraftKings CEO Jason Robins earlier this year about how the daily fantasy sports site could see a boost to its business because of the ruling.

http://money.cnn.com/video/news/2018/03 ... g.cnnmoney
User avatar
Naffman
Posts: 5626
Joined: Sun Aug 11, 2013 5:46 am

Smarkets look to be heavily involved too

https://www.racingpost.com/news/latest/ ... -us/331472
mobius
Posts: 203
Joined: Wed Oct 18, 2017 10:15 am

Good Opportunity for Betangel. They've got the underlying engine. Just need to tart up the bodywork.
Bit like wrapping a Mustang (around a Rolls Royce Engine) but called a Packard V-1650 Merlin.

"But almost every student of the war knows the decision to re-engine the P-51 Mustang with the British-designed Rolls-Royce Merlin was one of the era’s great flashes of genius. "

https://www.defensemedianetwork.com/sto ... ld-war-ii/

You've got the product, you've got the team.

Go on Peter be a Genius
User avatar
cmuddle
Posts: 160
Joined: Tue Apr 18, 2017 7:12 pm

US allows sports betting. Does it open new doors to Betfair?


https://youtu.be/YSVQedCrlfc
User avatar
LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

I think everyday racing would struggle to get going, but I'm more interested in how the sports markets would fare - NFL, NBA, MLB, NHL, PGA would all see huge increases in turnover if the American market got involved
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

When I've been in the US I've been interested to see in the early hours of UK time plenty of activity on US specific sports and people clearly courtsiding. So plenty going on there already. But it is legal in over the border so no surprise really.
mobius
Posts: 203
Joined: Wed Oct 18, 2017 10:15 am

But it is legal in over the border so no surprise really.
Mexico, Canada or where????????
User avatar
SBW077
Posts: 41
Joined: Thu Apr 16, 2009 2:03 pm

Accessing Betfair (or any other exchange) from Canada has been impossible since January 2016, accounts registered to Canadians have long been shut down.

Courtsiding activity in North America doesn't surprise me, I've noticed quite a few of them while attending sporting events over the years. Hard to imagine it's worth the logistical hassle these days for non-major events (except Super Bowl, US Open etc), if in-play liquidity for NA sports has dried up as much as I've heard.

Really don't know what to make of this ruling. I'm just hoping a new competitor to Betfair emerges at some point, preferably with a long-term vision and deep pockets.
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

mobius wrote:
Tue May 15, 2018 6:06 pm
But it is legal in over the border so no surprise really.
Mexico, Canada or where????????
https://www.youtube.com/watch?v=KtK1JEJj6qQ
User avatar
LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

USA is the land of ambition, the American dream. I suspect there are many entreprenuers willing to set up and potentially finance an exchange.

I suspect BF will be given the red card, so the proceeds will kept within USA

The key will be whether anybody outside of America would be allowed to access it
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Everything will be done at state level so hard to see a single exchange coming to the fore early on. Plus the yanks do love to overtax things so I'd imagine any money coming into Betfair will have punative comission charges like some of the AUS turnover markets. Probably not going to be the american dream everyone was hoping for with tons of mug money piling into the markets.
User avatar
Derek27
Posts: 23471
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

It's called the American dream because it happens while you sleep. :)
User avatar
ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

spreadbetting wrote:
Tue May 15, 2018 10:00 pm
Plus the yanks do love to overtax things
Nobody taxes quite like the UK. The US pay a lot less income tax (and no ni) and sales tax is only about 8% vs 20% here. Our fuel tax is much higher too.

I can't actually think of anything they tax more than we do except for considering gambling profits as income.
User avatar
northbound
Posts: 737
Joined: Mon Mar 20, 2017 11:22 pm

LeTiss wrote:
Tue May 15, 2018 8:42 pm
I suspect BF will be given the red card, so the proceeds will kept within USA

The key will be whether anybody outside of America would be allowed to access it
Interesting point which made me think this might be good news for Smarkets, as their CEO and founder is from the USA.
User avatar
Naffman
Posts: 5626
Joined: Sun Aug 11, 2013 5:46 am

New Jersey currently has their own exchange (NJX) which is similar to Italy's where no one can access that exchange unless you're physically in that state/country.

They pay 12% on winnings but pay no premium charge - which I don't know if that's either NJ's decision or BF themselves in case they scare everyone away.

So I guess when it does become legal in the US will they integrate onto the Betfair.com site or will they still have their own one?
Post Reply

Return to “General discussion”