Paddy Power Betfair, which runs the TVG network, is considering building a new US studio as it awaits a pending case in the Supreme Court on the nation-wide legalisation of sports betting.
This development comes as the landlord of the Paddy Power Betfair headquarters in Los Angeles tries to take some of the company’s vacant offices.
The TVG network is a sports-oriented TV network and the largest horse racing business in America.
A positive Supreme Court ruling will mean sports betting can be allowed throughout America.
Sport betting was banned in 1992, but New Jersey is seeking the repeal of the law in the Supreme Court, terming it as unconstitutional. As it stands now, four states in the US currently allows some form of sports betting.
Nevada is the only US state which fully approves sports books to allow gamers to wage on individual games.
The chief executive officer of Paddy Power Betfair, Kip Levin, plans to devote the new studio to betting on soccer, football, baseball, basketball, and hockey. Levin revealed in a recent interview that all is set for a take-off, given a positive court ruling. He said the program, Morning Line, that supervises the daily odds on horse races can be switched for other coverage.
Some European betting companies are also positioning themselves to take advantage of the US market. The London base William Hill currently has a 30 percent stake in the Nevada sports betting market. The company runs books for casinos like the Hooters Hotel and Binion’s Gambling Hall.
Nevada gaming regulators study changes to sports betting rules
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