Online gambling is slowly catching on in other parts of the country, and Pennsylvania is setting a good example of how to implement legalization in the right way.
Since its legalization in 2017, online gambling has become an important piece of Pennsylvania’s economic puzzle and is likely to continue gaining traction in the coming years as this pastime increases in popularity.
Here is a look at the way the legislation has benefitted the state and the kinds of activities that residents and visitors can enjoy.
License fees & tax revenues
It may only have been legalized for a short span of time, but online gambling has already helped to fill the public coffers of Pennsylvania with cash both accrued through the licensing fees that are chargeable to operators and of course the taxes that are generated through play.
Acquiring a license to run an online casino in Pennsylvania costs $10 million, in addition to renewal payments that apply each year. This is a hefty sum and an indication that regulators are eager to only encourage companies that are committed to supporting online gambling whole-heartedly to apply.
In terms of overall gambling revenues, only Nevada brings in more money per annum than Pennsylvania, so the state is siphoning off plenty of tax which can be used to pay for public services.
Online slot sites in Pennsylvania
Amongst the most popular forms of online gambling are the best slot sites in Pennsylvania listed at slots.info.
Slot games are by far the most accessible form of online gambling from a player perspective, since there is no need for specialist knowledge to get involved; simply choosing an amount to wager and clicking to get the reels spinning is enough to start enjoying the experience. So while there are also online poker sites and other virtual representations of table games to play, slots remain a major money maker for online casino operators and are a good place for newcomers to start out.
Job creation
The legislation which legitimized online gambling in Pennsylvania was not just good for entertaining players and generating tax, but also for stimulating the economy through job creation.
While only existing casino operators in the state are able to apply for a license to run online casino sites, in order to build and maintain these services, as well as to provide customer support and advice, recruitment drives have understandably been necessary.
This in turn means that there are more positions available as the industry grows, and more people with taxable incomes living and working in the state to ensure that GDP growth can be maintained.
As casino revenues for both land-based and online operations have seen increases in the past couple of years, this state of affairs is likely to continue improving the job market in Pennsylvania going forward.
Industry resilience
2020 has proven to be a challenging year for many industries, as well as creating risks for consumers. Land-based casinos in Pennsylvania were forced to close their doors for over two months as a result of the coronavirus pandemic. In an age before online gambling was legalized in the state, this would have caused operators to completely lose out on all of their usual revenue, leaving them in a precarious and unenviable position.
However, because most operators had already begun to take advantage of the opportunity to launch online equivalents to their bricks and mortar casino services, they were insulated from the worst effects of the crisis, even if there were still a lot of challenges to overcome in-house.
Being able to sell access to digital services and thus keep loyal customers onboard while also winning over new players was a lifeline to the industry in the spring and summer of 2020 and will continue to be an asset in the future.
Indeed the pandemic could be seen as an opportunity for the industry, rather than purely as an obstacle. With people forced to stay at home, unable to access their usual entertainment options, the audience for online casinos inevitably swelled. As such any growth in player numbers and increases in contact time seen in the past few months could well be sustained even after normality returns.
Wrapping up
Online gambling legislation has been advantageous to the state of Pennsylvania for predicted reasons, as well as for unexpected ones in the context of the current climate.
The increase in tax and the economic boost it offers is good for the public purse and for the economy as a whole. Meanwhile the convenience of online play is appealing to consumers.
Online gambling is slowly catching on in other parts of the country, and Pennsylvania is setting a good example of how to implement legalization in the right way.
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