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iGaming as the biggest potential source of revenue for Pennsylvania
Wednesday May 7,2014 : IGAMING BIGGEST POTENTIAL REVENUE SOURCE SAYS PENNSYLVANIA STUDY (Update)
Most likely complement to land-based casinos
A report commissioned by the Pennsylvania General Assembly Joint Budget and Finance Committee in December 2013 was released this week identifying iGaming as the biggest potential source of revenue for the State.
The findings forecast that iGaming could yield $184 million in the first year and $307 million the next with direct tax revenues estimated to potentially yield $68 million in the first year, and $110+million annually thereafter. And estimates that online sports betting could yield between $100 million and $400 million in revenue of which tax would amount to around $25 million in the first year.
A conservative approach is suggested when setting tax rates for iGaming which would be slightly above land-based rates due to perceived lower operating costs in the online sector. The report suggests a 20 percent tax rate on online poker and 60 percent for online slot-style games but suggests those be phased in as the sector progresses rather than set at start-up.
On the issue of cannibalisation, the report found iGaming would compliment rather than cannibalise terrestrial casino revenues, providing synergistic marketing opportunities and an increase in terrestrial casino foot traffic as new gamers become comfortable with playing poker in particular.
The full report can be accessed at: http://lbfc.legis.state.pa.us/reports/2014/90.PDF
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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