European Betting Group Bets on US Gambling Market
With industry experts believing that changes in the US gambling industry are only a matter of time, a number of companies are inching their way into the market. Playtech has been the biggest player to date that has started courting US land-based gambling groups in a bid to a get a foot into the market. Following suit are a number of smaller groups, the latest being the European processor "European Wagering Services."
The Isle of Man based EWS reportedly bought the Nevada based company 'Watch & Wager' for $100,000. The purchase means that Watch & Wager can access European Wagering Service's customer base, and allow the union to get a firm foot in the door when the laws eventually change.
Watch & Wager is licensed by the North Dakota Racing Commission, although it is allowed to offer its online gambling services in Nevada only.
The pari-mutuel operations director of EWS, Ed Comins explained the significance of such a union and said that "an 'on the ground' US gaming license and business operation also provides EWS with a significant first mover advantage in the US online betting and gaming marketplace."
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European Wagering Services is owned by Webis Holidings Plc. The group, which focuses on taking bets at racetrack events, paid cash for ownership of Watch & Wager.
A press release from Webis reads: "EWS and WAW to conduct pari-mutuel account deposit wagering in the US, subject to state by state legislation, under the licence held by WAW. WAW's existing gaming license to be extended to include business derived from EWS' current principle website link2bet and all of its associated own brand wagering platforms. EWS to commence business operations and process pari-mutuel turnover under the NDRC license with immediate effect."
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