US states continue to jump on the sports betting bandwagon that's been heading to full nation-wide regulation steadily since PASPA was abandoned in the spring...
...The market for this form of gambling has been in the preparation stage in Pennsylvania for some time. Now it's one step closer to being completed after two casinos were granted licenses.
All Clear For Launch
The Pennsylvania Gaming Control Board (PGCB) has given the green light to Hollywood Casino and Penn National Race Course and Parx Casino to commence their sportsbook operations.
However, despite being allowed to, none of these casinos plan to launch sports betting immediately, with Hollywood Casino taking it particularly slot as they look to launch sportsbook “within next few months”...
...Whereas Parx could go live a bit faster, with the sportsbook release slated for next month.
Pennsylvania's market will be one of the biggest, if not the biggest in the US, because this state has more than 12 million inhabitants.
What About Online and Mobile?
GAN has teamed up with Parx in order to develop and launch sports betting services via mobile device and online, in general – however, this may not be ready before early next year.
The license fee for casinos wanting to launch sportsbook in PA is $10 million, while tax rate collected by the state is very high – 36%.
The state of Pennsylvania has been making a lot of headlines lately. First they lifted the ban on gambling contribution, meaning that casino workers and casinos themselves could invest in political causes and parties...
...Followed by the admission of world-famous NetEnt onto the territory of this state, via license given by the authorities.
Source:
“First sports licenses issued in Pennsylvania”, igamingbusiness.com, October 4, 2018.
coolsongss
5 years ago
I am a bit surprised that the sportsbetting were not extensively allowed in US. I thought that people would go crazy to gamble for the Superball season :) So, sports was just sports in US by now, but it would have another meaning soon. Good luck :)
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Lipstick
5 years ago
Glad to see this is finally happening I hope this will include horse racing. But talk about the state gouging the license fee......c'mon that is ridiculous!
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Feelin froggy
5 years ago
Great news, but that licensing fee and tax rate! Wow!
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dandan2227
5 years ago
Okay that is pretty crazy the licensing fee to start alone is 10 million?!! Then on top of that you have to pay a 36% tax but I'm pretty sure its well worth it. When thinking of this whole legalize sports gambling and how each state decides remind me of medical marijuana. In so like all the guide lines that must be met...
Okay that is pretty crazy the licensing fee to start alone is 10 million?!! Then on top of that you have to pay a 36% tax but I'm pretty sure its well worth it. When thinking of this whole legalize sports gambling and how each state decides remind me of medical marijuana. In so like all the guide lines that must be met in order to obtain a license. True cannabis license its not cheap but you also must meet all the guidelines which are tricky like grow zones, building codes etc but with sports gambling it seems like as long as you have the bank roll to cover it you're golden
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BralasLT
5 years ago
Exciting times to be living in Pennsylvania!
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