Pennsylvania Passes Bill To Regulate Internet Gambling
Finally, Pennsylvania passes bill to regulate gambling online. The PA Gaming Control Board is yet to implement regulations and hand out licenses. The bill seeks to regulate real cash gambling at licensed internet casinos. The legislation will also regulate online poker rooms within Pennsylvania State borders. After months of hard work from the committee, the outcome on Tuesday 28th June saw a 114-85 vote in favor.
Pennsylvania Passes Bill for Online Gambling
The legislation will now go to the Senate for further discussion and consideration. If the outcome is positive, it will then end up at the office of Gov. Tom Wolf. Authorities have discussed the possibility of real money online gambling for a while. In the past year, a number of meetings have taken place discussing the growing industry. The latest rejection of the proposed bill occurred as recently as May 2017.
The online gambling market in the Keystone state is worth about $300 million per year. While the live poker market is now worth somewhere in the region of $60 million per year. The legislation was initially passed without provision. Without provision slot machines would have started popping up all throughout Pennsylvania. The operators of land-based casinos were opposed to that provision. To solve the mishap, the state has permitted slot machines at certain land-based venues.
Pennsylvania Gambling Laws
In the case that the new bill does not pass, internet casinos will only be able to operate from land-based casinos. Currently, there are 12 land-based casinos in PA. But they will be able to partner with casino software providers for their gaming content. Also, they will be able to team up with online poker rooms. Internet casinos stand to face a tax rate of 16%. The state will benefit millions of dollars in licensing fees. However, this will depend on the number of casinos interested in this opportunity.
When Pennsylvania passes bill on gambling online it will permit the state to offer fantasy sports gambling sites. The state will then take five percent of the revenue from this industry limited to pro sports. If online gambling is legalized Pennsylvania will become the fourth state to do so.