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Pennsylvanias Casinos Go All-In on Online Poker - Sports Talk Philly: Philadelphia Sports News and Rumors

Credit: Visitphilly.com Now, nine Pennsylvania casinos are on track to offering online gambling. In this post, we are focusing on the last one. The change came as a way to help fill in the gap in the state’s budget. At the end of last year, the state of Pennsylvania passed legislation that opened the gates to online gambling. Now, a couple of months later, 9 out of the 13 casinos in Pennsylvania have already applied for licenses at the discounted price of $10 million. The permit grants the holder the right to offer online slots, poker and table games. Four casinos haven’t yet taken advantage of the offer, though it’s for sure whether they will given the imposed 54 percent tax on online slots and 16 percent on table games and online poker.   The legislative move is among the state’s attempts to fix a hole in the budget without burdening the citizens with more taxation. The expected annual return for Pennsylvania’s treasury is $200 million. The move is quite logical given how prominent gambling is in Pennsylvania — the state ranks second after Nevada in annual revenue from the industry. And while right now, online gambling is only limited to players within the state’s borders, it is likely that soon Pennsylvania will join the shared liquidity pool that already consists of New Jersey, Nevada and Delaware — the only other states where online gambling is legal.

For the original version including any supplementary images or video, visit http://www.sportstalkphilly.com/2018/07/pennsylvanias-casinos-go-all-in-on-online-poker.html

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Ratings Agency: Sports Betting Revenue Will Help New Jersey, But Only Somewhat

fitch ratings The agency’s findings about New Jersey echoed the results from Delaware’s sports betting. In Delaware, the three sportsbooks collected $15 million in bets through July 2018, but that figure only resulted in $668,000 in tax revenue for the state. A press release from Fitch urged observers to monitor the results in Mississippi, which now has active sports betting. The release also mentioned that more data will come soon from states such as Pennsylvania and Rhode Island. Despite the down note, the results were not all disappointing.

For the original version including any supplementary images or video, visit https://www.playnj.com/news/nj-sports-betting-fitch-ratings-report/23585/

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