Expanded gambling pays off for Pennsylvania

Business News

According to PlayPennsylvania, the Keystone state has made close to $1 million a day on average since Bill 271 was passed to accommodate I-gaming, sports wagering and BGT activities throughout the region; massively surpassing budget estimates, and prompting more and more operators to petition and bid for further licensing on online games such as keno, poker, lotteries as well as virtual fantasy sports.

One of the main analysts for PlayPennsylvania.com, Jessica Welman spoke during a recent press release about the revenues produced by the state’s gambling expansion “The most notable aspect of the significant revenue that has been generated is that this is almost completely from fees, rather than tax revenue gained from gamblers. Clearly there is enough interest in Pennsylvania’s enormous market so far to generate the fees.”

Statistics evidence that online lotteries, keno and sports betting petitions all collectively generated $23 million in 2018 alone, auctions for mini-casino licenses generate $128 million, whilst licenses for online casino games such as poker bought in close to $94 million. After a further dissection of figures (including return-to-player rates of the games) calculated by the state officials – Pennsylvania’s overall gaming landscape is estimated to total up to a colossal $34 billion in revenue for its 2018-2019 fiscal year.