It has just been announced that there will be a new partnership between one of the biggest gambling companies in the UK, bet365 and the pools better operator in the US, Colossus Bets.
What does the partnership between bet365 and Colossus Bets entail?
The exciting new collaboration is a long-term license agreement that will enable the UK gambling operator with access to the functionalist and cash-out patent portfolio of the large US firm. This is an area of expertise for Colossus Bets.
In terms of the cash-out offering patents that bet365 will now be able to access as a result of this new partnership in the US, it includes online casinos, poker, lottery, and sports betting offering of bet365.
Popularity of UK gambling operators targeting the US
A number of British gambling operators have started to target the US after the sports betting market opened up in the US. This is a result of a recent ruling by the US Supreme Court. The Court removed a long-year ban on sports betting services, which has enabled gambling operators to take advantage of accessing the sports betting market overseas.
UK gambling companies expanding outside of the country
Another reason why more and more British gambling firms are looking to expand elsewhere is due to stricter regulations being enforced in the UK on the gambling industry furthermore, with increasing uncertainty regarding the domestic market, operators are deciding to look further afield for growth option out of the UK.
Whilst many companies are looking to Europe for expansion opportunities, the most popular and prominent market seems to be the US, given that the country has very recently liberalised the sports betting industry.