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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



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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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