Pennsylvania Is Posed To Become A Huge Gambling Market
March 23, 2018
There is a lot of reason to be optimistic about the gambling market in Pennsylvania. People are excited out it because it is set to be an even larger market for online gambling than was New Jersey that went before it.
Current indications are that Pennsylvania will see its first legal online gambling websites set up shop in the fourth quarter of 2018. That is why so many are excited by the possibilities of the online market for Pennsylvania.
The Pennsylvania Gaming Control Board announced that existing casinos may start to apply for licenses to operate online. That announcement came yesterday. There is now a one-hundred and twenty day window that is open for those casinos to make their move. Those licenses will come at a cost of $10 million a piece, but many of the casinos are going to consider this to be more than worth their money. They are intending to make that money back in spades when it comes to their online operations. It is a safe assumption to believe that this will work out for them.
The Licensing Process
Currently, Pennsylvania is allowing online casinos to operate in three particular areas of gaming. Those are online poker, online slot machines, and online table games. There are still some restrictions on sports gambling via the Internet for example. It is not exactly a free-for-all in Pennsylvania just yet, but there is a lot of hope that the state is definitely moving in the right direction towards a more open attitude about online gambling.
There are currently thirteen registered casino operators in the state of Pennsylvania. It is not quite clear just yet how many of them are going to want to open up operations for the online business. It seems likely that many will jump in on this trend, but we are just not yet sure what is going to happen with it. This is complicated by the fact that many of the casinos are being purchased or acquired by one another in this particular state. That all could be about making business moves before the new online market opens up to everyone.
New Jersey Proves This Can Work
The success that New Jersey has seen in their gambling market has been a big boon for other states that are considering doing the exact same thing. Pennsylvania definitely learned from the example that New Jersey set for them and the rest of the country. They largely followed the model that New Jersey used as well.
Allowing existing casinos to apply first means that established names will be behind some of the first online casinos to come to the state. That is important because people want to have names that they trust behind the first few casinos that come online. It is a way to build trust between online casinos and the public who is not used to them being legal.
The Excitement In Pennsylvania Is Real
There is even more excitement in Pennsylvania than there was in New Jersey from the top casino operators in the country. There was a gold rush of sorts to get into the online casino market in New Jersey when it first opened up, but that is nothing in comparison to what the excitement is starting to look like when it comes to Pennsylvania.
There are many more big names that are willing to put their trust in a larger state like this. They realize that there is going to be a larger player pool, and that is incredibly important to revenues in general as well as to the ability to enjoy a game like online poker to the fullest extent.
With all of this buzz and support from the Pennsylvania community there is reason to hope that their example might be enough to help get other states to start to considering opening up online gambling within their own borders as well. It could be a cascading impact like that.
Tax dollars are a good enough reason for many of the states to consider going this route. After all, the coffers of many state governments could really use a boost. A good way to get that boost may be to go to the online gambling pool as a means of generating revenue.