|Sportingbet, which claims to be the largest online sportbook, saw its shares jump by nearly nine percent today as a direct result the World Trade Organisation’s ruling, The Times online has reported. |
While the actual effect the decision will have on the online betting industry in real, practical terms is not yet known, this certainly seems to show (at least amongst investors) an optimism towards, and enthusiasm for a liberalisation of the American market.
According to the Times, Sportingbet will be perhaps the greatest beneficiary of any liberalisation: “At its third-quarter results in January, the company disclosed that it drew two thirds of its £360 million turnover from the US, which it handles through its offshore subsidiary in Costa Rica. Sportingbet, which is to file preliminaries on April 29, jumped 61⁄4p to 771⁄2p. The FTSE 250 closed up 69.1 points at 6,217.9.”