WILLIAM HILL TARGETS US BETTING WINDFALL

WILLIAM Hill is putting its money on a sports betting boom in the United States after selling its Australian business at a loss.

The bookmaker is stepping up investment in the US ahead of a court ruling that could overturn a ban on sports betting in the coming months.

The Professional and Amateur Sports Protection Act has outlawed betting on sport in all but Delaware, Montana, Nevada and Oregon since 1992. But the US Supreme Court could repeal the law after a challenge from New Jersey – opening the floodgates for sports betting across America.

Around £395bn is wagered on sport across the US annually – the vast majority illegally. Of the £3.6bn bet on the Superbowl ( pictured) last month, 97pc was illegal.

William Hill yesterday called time on its foray into Australia by selling its operations there to Crown Bet for £176m.