Pennsylvania Officially Legalizes iGaming
Great news is coming from the United States! Governor Tom Wolf signed Pennsylvania online gambling bill, making the Keystone State the fourth US state to have legalized iGaming.
The bill, which allows regulated online gambling and daily fantasy sports, as well as the addition of more land-based casinos, had previously been approved by the state’s House of Representatives and Senate.
The Fourth State to Have Done So
With this move, Pennsylvania has joined Nevada, Delaware, and New Jersey in allowing iGaming within its borders.
However, the road to online gambling legalization wasn’t an easy one, and definitely wasn’t a short one, since the state’s lawmakers spent last five years debating over it. For some time, it even looked as though the final goal couldn’t be reached at all.
Rep. George Dunbar and former Rep. John Payne were iGaming trailblazers in Pennsylvania, proposing a number of bills, although with no success.
Those who opposed iGaming legalization claimed it would deal a blow to the state’s traditional gambling industry. As the time was passing, the only thing that changed was Pennsylvania debt, which kept on growing.
iGaming legalization was definitely a good move, while the state has already earned its first million dollars in revenue since the new bill was signed by the Governor.
If everything goes as planned, Pennsylvania should see a surge in online gaming revenue in the following period.
The recently adopted law includes a licensing fee for all those casinos that wish to offer online services to their customers, which is set at $10 million. The tax on online poker and table game revenue is 16%, while tax on online slots revenue is 54%.
Chris Grove, a gambling industry analyst, estimates that the state could earn up to $100 million in licensing fees alone. So far, it looks like the lawmakers made not only a good move but also a lucrative one.