5Dimes Getting Regulated in the US is Now Finally a Possibility

The United States is home to the largest and most profitable new sports betting market in the world. Recently, a huge number of companies have begun pushing to enter this new market. Based on new reports, it seems that 5Dimes getting regulated in the US is now finally possible.

Rumors about this company making this change have been circulating for months. It’s a huge move for 5Dimes and the sports betting industry moving forward. Today, we’re going to look at exactly what is happening here.

Let’s get into it!

The US Sports Betting Industry is Growing Quickly in 2020

It’s been years since PASPA was removed and today, 24 states have approved bills to legalize and regulate sports betting. Most of these states are profiting massively off of this industry. Revenue has been increasing quickly around the country.

New Jersey is now without a doubt the biggest sports betting market in the United States. Lawmakers here approved a sports gambling bill back in 2018. Here, both land-based and online sports betting is allowed.

Revenue has been increasing consistently in this state. This year, things have truly begun to ramp up. With sports leagues now up and running, this industry is surging. In August, New Jersey’s sports betting revenue reached an all-time high of any state in the US. Colorado’s sports betting revenue is surging, as well.

Nevada has seen its sports gambling revenue surge lately. Many analysts credit the start of the 2020 NFL season for the most recent jump in earnings. Based on the current trend, it seems likely that this will be the most-wagered-on season in history.

Gambling companies clearly recognize how lucrative this new market really is. A huge number of new companies, some even from Europe, are breaking into the United States sports betting industry. We’re now hearing reports of a popular new betting website looking to break into this country.

Here’s what we know about this situation.

We’re Likely to See 5Dimes Regulated in the US Soon

It’s clear that the US is growing to become the world’s gambling hotspot. Interestingly, this country is split between a regulated and unregulated gambling industry. States that have passed sports betting bills are home to regulated betting platforms.

In all other states, there are a huge number of betting websites not directly regulated by the state. In recent years, many of these websites have been working to break into the new regulated market. Most agree it’s the more lucrative option.

This week, news broke that 5Dimes reached a settlement with the federal government. This gambling company has agreed to pay $15 million in cash and will forfeit $30 million in assets. As of now, 5Dimes will also stop accepting players from the United States.

Maria M. Carrillo, assistant U.S. Attorney for the Eastern District of Pennsylvania, spoke about this situation to the media this week.

“We achieved the objective, which is, she is compliant with U.S. federal law right now,” she said. “What that means for her is she is not operating in violation of U.S. law, and she is not actively taking bets from U.S. bettors. Whether she’s positioned well for regulators, that’s up for the regulators to decide,” Carrillo said. “[5Dimes] certainly is no longer in violation of federal law.”

This opens the door for 5Dimes getting regulated in the US. It will certainly take time, though. Most analysts don’t expect this to take place this year. Make sure to stay tuned for more updates!

William Hill Has Been Purchased by Caesars

As we just mentioned, a huge number of new companies are making the move into the US sports betting industry. Even some of the top UK-based sports gambling companies are making this decision. That includes William Hill, with sportsbooks now operating in several states around the country.

Not long ago, rumors began to surface that several companies were interested in purchasing William Hill. It was a surprise, as many felt this company was one of the biggest sports betting operators in the country. News then came out that Caesars had agreed to purchase William Hill for $3.7 billion.

This is yet another huge move for Caesars. This company is now perhaps the biggest gambling company in the United States. It completed its merger with Eldorado Resorts and now owns more than 50 gambling properties around the US.

Caesars is now a sports betting powerhouse. This company has taken over all of William Hill’s various sports gambling assets around the country. It’s still not entirely clear what will happen to William Hill’s UK assets.

We’re expecting to see 5Dimes regulated in the US sometime in the near future. It will be another exciting addition to the US market. This will likely have a major impact on the country’s sports betting industry moving forward.

Are you excited to see 5Dimes pushing to move into the regulated US sports betting market? Let us know in the comments section below!