A wise time to invest A Wise Time to Invest
Investing in the British sports betting industry at a time when the government is considering the fate of fixed odds betting terminals (FOBTs) could be considered unwise. However, with Sky Betting and Gaming being an online-only business, the new owner should be sheltered from the negative impact any reduction in FOBT betting limits will have on high street betting shops.
Beyond the UK, The Stars Group’s bid to bolster its sports betting provisions could prove profitable in the US. With the Supreme Court about to consider New Jersey’s attempt to have a 1992 law banning sports betting overturned, a new market could be about to open up.
With Sky Bet being an established brand in the UK with a team of experts in place, this would make move into the US would be a lot easier. Indeed, although The Stars Group launched BetStars at the close of 2015, it’s still a relative novice in the sports betting arena.
By taking control of Sky Bet, the company could utilise its new assets and resources to ensure its one of the first brands to offer online sports betting in New Jersey and, potentially, other US states.
For now, The Stars Groups’ plan will be to consolidate its position in the UK market with Sky Bet and its sister site. However, with a global network behind it, there’s a chance we could see Sky Betting and Gaming become a major force in the US over the next few years.