UK bookmaker values rise by over £1.5bn as sports betting to be legal in USThe value of London-listed gambling firms, including 888, Paddy Power Betfair and William Hill, surged by more than £1.5bn after the US supreme court struck down a nationwide ban on sports betting that has stood for 26 years. Paddy Power Betfair and William Hill – both of which have built sizeable footholds in the US in readiness for the repeal of PASPA – enjoyed gains of 12.2% and 10.7% respectively. A decision on FOBTs, which account for more than half of UK bookmakers’ revenues, is expected this week. The William Hill chief executive, Philip Bowcock, said: “This is a landmark moment for sports betting and for William Hill. In its ruling, the supreme court said: “Supporters argue that legalisation will produce revenue for the states and critically weaken illegal sports betting operations, which are often run by organised crime.

Source: The Guardian May 14, 2018 16:22 UTC