Over the years, the online gambling industry in the United States has been limited to New Jersey, Nevada and Delaware. For years we have waited to see another state join the fray and Pennsylvania has been at the top of the list when it comes to states considering legislation. Just this week, the Senate and House of Pennsylvania were able to approve a gambling expansion package that will include the legalization and regulation of online gaming.
Because the plan was approved by both chambers, the bill will now move to the governor’s desk for approval. It is likely that the governor will sign the bill as a gambling expansion has been on the table for quite some time. With the package, the state is expected to be able to receive as much as $260 million which will help to mend the $2 billion budget shortfall.
With the legislation, several areas of gaming are included. Online lottery ticket sales, daily fantasy sports, satellite casinos and more are included along with online gaming. The bill is quite large, at 470 pages and was made public late last night.
The gambling market of Pennsylvania is already valued at over $3 billion a year and with online gambling in the mix, an additional $300 million could be generated. The tax rates for online gaming varies on the game, with online poker being taxed at 16% as well as table games. Online slot games will be taxed 54%.
Proponents of online gaming has been waiting anxiously for Pennsylvania to move forward with a gaming package and become the next state in the US to offer such iGaming options. It will be interesting to see how quickly the state moves forward once the governor hopefully signs the measure and steps are taken to begin online gambling as well as starting the other areas of expansion.
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