Pennsylvania Legislature Vote Sports Betting Laws Today
Only a few months have passed after the Supreme Court overturned PASPA and Pennsylvania is already taking the final steps to regulate the sports betting, starting a new chapter in the state’s gambling industry.
The laws that would systematize and control the sports betting have been introduced 10 months ago (bill HB 271) and the Gaming Control Board is meeting today to vote on the proposed regulations and decide on the future course of sports betting.
High Tax Rates
At the moment, operators who would like to apply for the license are required to pay approximately $10 million plus 34% state and 2% local tax. The total tax rate would, therefore, amount to 36% – almost five times the amount that operators in Nevada are legally obliged to pay, which explains why no applications have been received so far.
With this in mind, the current tax rates and license expenses are probably going to be at the very top of today’s agenda, along with the types of sports that will be opened for this kind of commercialization.
Nine Land-based Casinos Apply
Gaming Control Board is also expected to address the applications made by the Pennsylvania casinos for providing online gaming services – so far, nine land-based casinos have applied for the online gaming certificates, including Chester Downs, Mount Airy Casino Resort, and Greenwood Gaming & Entertainment.
Meanwhile, things are already wrapping up in West Virginia, where Charles Town Casino is expected to offer sports bets this September and Hollywood Casino has become the first facility licensed for sports betting.
This will undoubtedly speed things up in Pennsylvania, especially if they are to catch up with their neighbors; the fact remains that, until they do, sports fans across the state will seek other alternatives, including placing their sports bets on black markets or crossing the border where sports betting is already legalized.
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