More Progress is Necessary To Make Pennsylvania Online Gambling a RealityPublished January 29, 2018 by Elana K
Since Pennsylvania legalized online gambling in October 2017, the state has made little progress toward actually making online gambling a reality.
Since Pennsylvania legalized online gambling in October 2017, the state has made little progress toward actually making online gambling a reality. So far, a new gaming license has been issued to Philly Live! Casino, and lots of other things are being talked about, but that’s about it for the state. If Pennsylvania actually wants to generate income from online gambling and pull itself out of its budget deficit, it’s going to need to act soon.
The Fiscal Year Deadline
July 1, 2018 is the beginning of Pennsylvania’s fiscal year for 2018-2019, which means that if Pennsylvania wants to see significant revenue from online gambling, it needs to start allowing it and regulating it. The first step that needs to be taken is to accept applications for licenses. And with a towering licensing fee of $10 million, Pennsylvania could see some serious profit once it starts receiving applications.
However, all this is in the hands of the PA Gaming Control Board (PGCG), which meets about once a month. However, if any progress has been made, the board has been keeping it hush hush.
PA Lottery Has High Hopes
While the main concrete steps towards legalizing online gambling have not yet taken place yet, the Pennsylvania Lottery is planning to have online lottery ticket sales up and running by the spring. By selling online lottery tickets, the state is hoping to combat the 3% decline in ticket sales that took place in 2017.
Pennsylvania Land-Based Casinos Set Record Year
Pennsylvania’s land-based casinos had a great year in 2017, which should be all the more incentive for the PGCB to start moving forward with online gambling. In fact, Pennsylvania’s land-based casinos generated over $3.2 billion in 2017, breaking its record-high of 2016. With traditional gambling at an all-time high, it's the perfect time to introduce online casinos.