GVC, the owner of Ladbrokes Coral, reported double-digit online gambling revenue. It is a good thing its online business is booming because its retail business took a sharp drop. According to the report, the firm’s online operations improved 18 percent for the year ending in June.
According to gambling news sites, GVC’s UK retail shops dropped 10 percent in the same period due to the implementation of new regulations. The new rules reduced the maximum wagers allowed on fixed betting terminals. As a result, all retail bookies suffered losses.
In fact, William Hill closed down 700 betting shops due to the new regulation. It affected 4,500 jobs. In addition, GVC likely shut 1,000 shops. To offset the stricter regulations in the UK, gambling firms are expanding their operations in other countries.
Increased Online Gambling Revenue
GVC and pay per head sportsbook operators are trying to get their share of the US sports betting market. There’s a boom in sports wagering in the United States as several states legalized the activity.
GVC claims to have the best bookie software. It partnered with MGM Resorts to launch its online gambling app in the US. In fact, it expects the launch to be in time for the start of the NFL season. Also, the company got licenses to operate in different states, including Mississippi. New Jersey, and Nevada.
Other UK gambling companies are competing in the US market. They partnered with IS-based companies for their ventures into the new market. For instance, Flutter Entertainment signed a deal with FanDuel to accept sports bets. William Hill partnered with El Dorado resorts.
Today is the right time to learn how to be a bookie in the US. Even with major gambling companies vying for the piece of the sports betting pie, the industry has room for independent bookies. The secret is to find the best PPH solution for your business.