Sportingbet a Good Buy? U.S. Market Entrance Still Has Many Obstacles

Written by:
C Costigan
Published on:

Analysts have been talking up one of the leading online gambling ventures this past week, Sportingbet, in the wake of a measure to legalize the activity passing in a House Subcommittee earlier this month. 

Sportingbet is another company that has been working with the U.S. Government as a means of trying to enter the lucrative gambling market should online gambling become legalized there. 

Gambling911.com readers might recall back in 2006, the state of Louisiana issued an arrest warrant for Sportingbet Chairman Peter Dicks.  Though he was apprehended at New York’s JFK Airport, that state refused to extradite him to Louisiana.  Dicks later settled with the state but Louisiana serves as just another example of additional obstacles at the local level that must be overcome regardless of whether federal legislation ultimately passes.

Gambling911.com first broke the news about PartyGaming being named in a Kentucky state lawsuit this past Wednesday (see full complaint here)

For the time being, analysts seem undeterred. 

From City A.M:


We are leaving our 2010 forecasts unchanged, although we expect the firm to come in modestly ahead. Trading into the first quarter has been relatively strong [with no obvious World Cup hangover on sports betting] and guidance for 2011 is unchanged – the key risks, as previously, remain regulatory change in its core markets of Greece, Turkey, Spain.


The group reported a strong performance from the World Cup with £50m staked during the tournament, with an aggregate margin in excess of 17 per cent ahead of our expectations. We continue to believe sportingbet will participate in industry consolidation, with further growth in sports betting. therefore trading on a price to earnings ratio of 10 times, EV/EBITDA of six times, with a dividend yield of around two per cent, we reiterate our ‘Buy’ recommendation.

Aaron Goldstein, Gambling911.com

Business/Financial News

Is This a Good Time to Start a Sportsbook From Arizona?

Is This a Good Time to Start a Sportsbook From Arizona?

For bookies and agents in the state of Arizona, it is a terrific time to start a sportsbook using a powerful Pay Per Head software platform.

Is It Wise to Start a Bookie Business in the State of Illinois Now That There is Regulation?

Is It Wise to Start a Bookie Business in the State of Illinois Now That There is Regulation?

Local bookmakers in the state of Illinois will survive in the wake of a law passing that permits sports betting even at venues such as Wrigley Field.  It's easy to get started with proprietary Pay Per Head software.

Can I Start an Online Sportsbook From Alabama

You can start your own sportsbook from Alabama.  The US Supreme Court ruled to overturn decades long prohibition this past May. 

Finding an Easy to Navigate Agent Menu for Bookmaking, Sports Betting

Finding a Pay Per Head is easy.  Simply Google the term and a bunch of searches will pop up.  But many of today's most savvy bookmakers and agents will explore much deeper in an effort to find easy to navigate platforms and those that produce extensive reporting. 

The New Trending Crypto | Litecoin

The New Trending Crypto | Litecoin

Cryptocurrency is without doubt the hottest form of currency when it comes to paying for and receiving payouts from online sportsbooks. The beauty of cryptocurrency is the ease of use for both the sender and the receiver.