Pennsylvania Online Gaming and Poker to Go Live Soon
Recently updated on April 19th, 2019
In a letter to the state’s 13 casino operators, Executive Director Kevin O’Toole stated that the Pennsylvania Gaming Control Board (PGCB) has approved interactive gaming. Gaming and poker sites will be allowed to go live on 15 July 2019. Online gambling and poker were made official under the state’s gaming growth package that was signed into law in 2017. The law was signed by Governor Tom Wolf (D). In addition to online gambling sites, the bundle officialized sports gambling and daily fantasy sports, and also authorized online betting sites along with airport betting lounges. Also, with the inclusion of slot machines at succeeding diesel truck stops.
Heavy Fees for Pennsylvania Online Gaming
Online gambling proved to be valuable to brick and mortar casino operators in numerous markets. In Atlantic City, online gaming is all about being able to play a critical role in the rebirth of the beachfront betting town.
2018’s gross gaming revenue (GGR) from online gaming totalled over $298.7 million, which is a 21.6 percent outpouring on the previous year. Revenue from land-based casinos plays upsurge with four percent. The PGCB taxed GGR from internet table games at a real rate of 16%. Online slots are taxed at 54%. The tax cash will be allocated for the state’s Property Tax Relief Fund, and also the Pennsylvania General Fund. O’Toole says online gaming operatives should submit materials and collaborating games to the PGCB workshop for review.
Mobile Sports Betting
The first legal sports wager in Pennsylvania was made last November. Nonetheless, online staking remains offline. That might change soon, as online bookmaking operatives are independent of the interactive gaming sites and also poker games are being discussed. The 2017 sports gaming law lets licensed operators, which also cost about $10 million per license to accept mobile bets. Pennsylvania’s four brick and mortar sportsbooks are reported to be pulling in disappointing revenues since they went going live. More so, mobile sports gambling will help immensely. In New Jersey, 80% of sports bets are facilitated through the internet. Pennsylvania taxes sports gambling revenues at a rate of 36%.
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