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Thread: Pennsylvania lawmakers want sports betting in time for NFL season

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  1. #1 Pennsylvania lawmakers want sports betting in time for NFL season 
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    http://www.timesonline.com/news/2018...for-nfl-season



    Pennsylvania casinos will pay a $10 million licensing fee for sports betting and 34 percent tax on revenues, said state Sen. Tommy Tomlinson, R-6, of Bensalem.

    Wanna bet the Eagles can win the Super Bowl two years in a row?

    You might be able to do that — legally.

    Legal betting on sports games is coming to Pennsylvania and could be available at state-licensed casinos before the start of NFL season, state lawmakers predicted.



    Already licensed for slots and table games, Pennsylvania casinos could pay an additional $10 million to host sports betting operations, said state Sen. Tommy Tomlinson, R-6, of Bensalem. In 2004, Tomlinson was an architect of legislation that initially brought slot machines to state racetracks, such as what’s now Parx Casino and Racetrack in Bensalem, Bucks County.

    “You can’t stop the sports betting,” Tomlinson said Thursday. “But I don’t expect a lot of money from this.”

    Pennsylvania already has become dependent on gambling revenues.



    Last year, Pennsylvania’s 25,841 slot machines had gross terminal revenues estimated at $1.9 billion, with $663 million (or 34 percent) of that cash going to the state, according to the Pennsylvania Gaming Control Board.

    Pennsylvania casinos were operating another 1,265 table games, which generated $746 million in revenues with $105 million (or 14 percent) going to Harrisburg and the communities in which the casinos are located, according to the state.



    Pennsylvania Rep. Frank Farry, R-142, believes revenues from sports betting can help balance the state budget next year. “I don’t see any reason why they couldn’t hustle. It’s a revenue opportunity for the state,” said Farry, of Langhorne, Bucks County. “I would bet that we get this done before the NFL season.”
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  2. #2  
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    you gotta be IN IT to Win IT
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  3. #3  
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    Rush Street Interactive is ready for sports betting.

    This past week they announced via press release they have launched a partnership with global sportsbook supplier Kambi Group PLC. The move marks Rush Street’s first major play toward sports betting. The company owns two Pennsylvania casinos, SugarHouse and Rivers Casino.

    In the release, Kambi Cheif Executive Kristian Nylen said Kami’s top-notch products are a good fit for the American gaming group.


    “This agreement with Rush Street Interactive, one of the most respected gaming companies in the U.S., is recognition that Kambi not only has online premium sports betting services ready to appeal to American sports enthusiasts, but those services will help protect the integrity of sports.”


    Rush Street Interactive President Richard Schwartz also noted that the company has full confidence that the partnership will produce an excellent product that preserves the integrity of each bet.



    Kambi partnership may be a sign that PA tax isn’t a big issue
    One of the key issues of sports betting in Pennsylvania is the proposed 36 percent tax on sportsbook revenue.

    Greg Gemignani, an attorney with Dickinson Wright who specializes in gaming law, said in an interview that sportsbooks could face financial difficulties if state taxes are enough that they take a significant chunk of the operation’s win.

    He pointed out that Nevada sportsbooks have, historically speaking, averaged a 4.5-percent margin. Should Kambi and Rush Street implement sports betting via SugarHouse and Rivers, a 36-percent tax revenue would drop that 4.5-percent win to 2.88 percent.

    We don’t know yet whether or not PA sportsbooks clear 4.5 percent. However, the Rush Street-Kambi deal reveals that both parties understand the cost and the taxes involved with running a sportsbook in Pennsylvania. And even with the potentially low margins, they are moving ahead regardless.

    Competition a foregone conclusion
    What will be interesting as Pennsylvania’s regulators determine the path and scope of sports betting is the concept of competition.

    New Jersey’s Supreme Court of the United States win was somewhat of a formality. Atlantic City casinos were prepping for sports betting long before a decision came in.

    For example, Borgata announced this past November that they were planning to open an $8 million sportsbook.

    Atlantic City will no doubt provide serious competition with Pennsylvania’s eastern casinos. One of those is Philadelphia’s SugarHouse. It’s worth nothing the drive from Philly to Atlantic City is about an hour on the weekend without traffic.

    Will Philadelphia residents choose to head to Atlantic City for its glamour and sportsbooks? Or will they stay “local” and go to Philadelphia to place their bets?

    What is certain is that Kambi is ready to implement their sportsbook operations in the United States.

    The company published a response to the SCOTUS repeal of PASPA this past week, saying the following:

    “Kambi believes it is well positioned to enter the US as and when local laws permit, and is excited by the prospect of US sports fans being able to enjoy the Kambi Sportsbook. As previously communicated, Kambi has been proactive to ensure it is ready to launch in the US on day one of a legal market, and remains confident it will be able do so.”
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    Quote Originally Posted by Betallsports View Post
    you gotta be IN IT to Win IT

    Yeah, I will be surprised if Pa sits out half the football season & enters in the middle......you gotta be up & running by the first college football game late in August. If not, Pa residents will drive to Delaware or NJ
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    113-12 with 5 titles in 9 years rolltide's Avatar
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    Rivers Casino will be stupid not to get in on this but i can't blame anyone from walking away from the PA money grab

    Rivers is across the street from Heinz Field...they'd not only be crushing with Sunday tickets but the bars would be packed and they could probably do an add-on and make the riverwalk side one giant sports bar/book. all the Yinzers would be lining up to bet the Black n Gold
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  6. #6  
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    Won't make it a month. The first time these places go upside down, is the last.
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  7. #7  
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    Quote Originally Posted by Sugarbear View Post
    Won't make it a month. The first time these places go upside down, is the last.
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    Anyone have any info or thoughts on when sports gambling will be legal in Arizona?
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  9. #9  
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    Quote Originally Posted by Sugarbear View Post
    Won't make it a month. The first time these places go upside down, is the last.
    Usually the negative comments come from someone living in Vegas......don't worry, the east coast will survive, & we'll be around longer than a month, lol!
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  10. #10  
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    Quote Originally Posted by Big Lou Returns View Post
    Anyone have any info or thoughts on when sports gambling will be legal in Arizona?
    The Arizona Department of Gaming said in a statement Monday all sports betting will remain illegal until further action is taken at the state level.


    In a tweet Monday, Gov. Doug Ducey hinted at a possible push to legalize sports gambling as part of the Arizona Tribal-State Gaming Compact — the state's agreement that governs betting on Native American lands.
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  11. #11  
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    Quote Originally Posted by Big Lou Returns View Post
    Anyone have any info or thoughts on when sports gambling will be legal in Arizona?
    http://www.espn.com/chalk/story/_/id...-all-50-states


    This link shows every state & where they stand on sports betting.
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  12. #12  
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    Quote Originally Posted by The Computer Group View Post
    Usually the negative comments come from someone living in Vegas......don't worry, the east coast will survive, & we'll be around longer than a month, lol!
    No experience at any facet of the business guarantees they won't make it. The whole fantasy depends on credit shop players becoming daily cash players. Never gonna happen.

    All keep modeling in good behavior at that. Very bad news coming on that front. City Hall is going to get jacked hard as well.
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  13. #13  
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    Quote Originally Posted by Sugarbear View Post
    No experience at any facet of the business guarantees they won't make it. The whole fantasy depends on credit shop players becoming daily cash players. Never gonna happen.

    All keep modeling in good behavior at that. Very bad news coming on that front. City Hall is going to get jacked hard as well.
    I'm thinking Pa will keep the high tax rate for a year or two, & then lower it if not enough casinos sign up, or they may lower it at the beginning, but I doubt that.

    Somebody that knows how to run sports books will run the show in the Pa casinos......you gotta start somewhere, & it will be all right.

    The east coast IMO has a lot of sports bettors, & big players.......also, Pa will offer internet betting & mobile app to wager thru... .a lot of younger bettors, & new bettors will be all over this, especially with live in game wagering.

    Credit shops IMO will lose 30% of their business......& probably half the credit players like betting with credit cuz they can't afford to post up.

    Most will keep their credit shops for a back up if they want more money to wager on a game than the casino allows.
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  14. #14  
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    https://www.paonlinecasino.com/2439/...tting-support/



    PA Lawmaker Urges State To Hurry Up With Those Sports Betting Regulations



    There’s no shame in being eager.

    This past week, Rep. Frank Farry sent an official letter to the Pennsylvania Gaming Control Board (PGCB) dated May 23 asking the board to implement the proper regulations for sports betting as soon as they can.

    “I strongly encourage the Gaming Board to adopt the appropriate regulations as soon as possible. Legalizing sports wagering will serve as a job creator in the Commonwealth as well as provide much-needed revenue to Pennsylvania,” Farry said in the letter.

    Farry sees revenue opportunity in wagering

    One day after his letter, Farry posted an article on his website providing some more insight. His initial letter was brief and did not elaborate on the reasoning behind his request.

    The article indicated that Farry’s PGCB ask was based on two things: the

    Revenue that sports betting brings
    Lost revenue being gambled illegally
    “Between license fees and tax revenue, sports betting has the potential to be a lucrative revenue source for the budget and priority programs such as education, human services and public safety,” Farry said in the article. “It will also serve as a job creator in the Commonwealth.”

    The American Gaming Association (AGA) estimates that legalized sports betting will create around 152,000 jobs nationwide. The organization also projects $5.3 billion in tax revenue.

    Pennsylvania will most likely be among the states with the highest tax revenue dollars from sports betting. Act 42, the legislation that expanded gambling in Pennsylvania, provided a preliminary framework for sports betting that could make the state one of the first to implement sports betting.

    As for curbing illegal gambling, Farry said “millions of dollars are being wagered illegally on sporting events in Philadelphia,” and that it’s important to end that with legal betting.

    He concluded his quotes with another strong admonition for the PGCB:

    “We have an opportunity to be on the forefront of a sustainable revenue option that would benefit the state and our communities, and I encourage the Gaming Control Board to act quickly in establishing the necessary guidelines.”



    High taxes ahead for PA sportsbooks
    Pennsylvania has long had a reputation for being a high-tax state for casinos. According to numbers from the AGA, it’s typically in the top two for tax revenue from commercial casinos.

    The state charges a 54-percent tax on slots and video poker. Meanwhile, Nevada charges a 6.75-percent tax on gambling wins.

    The proposed tax rate for sports betting is 34 percent. These high taxes will make life a little more difficult for sportsbooks, especially considering that Nevada sportsbooks’ average win is around 4.5 percent.

    A 34 percent tax on that win rate would reduce a sportsbook’s take to 3.02 percent.

    In years where big underdogs win on the big stage, that 34-percent tax could sting. For example, it’s estimated that Las Vegas sportsbooks could lose $5 million if the Las Vegas Golden Knights win the Stanley Cup.
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  15. #15  
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    Again. The idea that people will convert from an illegal outlet to a legal one is absurd. All will find it extremely inconvient to do so in a legal setting. How it is, is way more comfy and no one is giving that up.
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    Quote Originally Posted by Sugarbear View Post
    Again. The idea that people will convert from an illegal outlet to a legal one is absurd. All will find it extremely inconvient to do so in a legal setting. How it is, is way more comfy and no one is giving that up.
    I guarantee it's not absurd to anyone that has been stiffed!
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  17. #17  
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    People will still stay with their bookies cause they don't have to put the money up front.It usually goes week to week and a lot of degenerates don't like to put the money up instead of going to the window where they pay up front
    Whether it's the best of times or the worst of times, it's the only time we've got.
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  18. #18  
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    [QUOTE=Sugarbear;12512583]Again. The idea that people will convert from an illegal outlet to a legal one is absurd. All will find it extremely inconvient to do so in a legal setting. How it is, is way more comfy and no one is giving that up.[/BothQUOTE]

    So you live in LV. Who do you bet with? Casinos or the street book? I would take a guess that over 50% who bet with the street are bustouts. Same thing goes for some of the street books. They are both hoping for the other to lose. Both broke asses. Not a good situation to put your money in.
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  19. #19  
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    Quote Originally Posted by Sugarbear View Post
    Again. The idea that people will convert from an illegal outlet to a legal one is absurd. All will find it extremely inconvient to do so in a legal setting. How it is, is way more comfy and no one is giving that up.
    A lot of people will try out the casinos & the online sports betting mobile app & some of those people will lose money in the casinos & go right back to local bookies.

    Thing is, those locals will lose around 30% of their customers right away, & will be looking to replace them, & they wont be as picky with getting clients, eventually those coming back will be broke & they will stiff the local once they lose, cuz they've already lost all their money to the casinos.

    Locals will have less power to do anything about stiffers once legal betting rolls in.

    Locals will still be around, & they won't lose the big bettor that bets 2k up to 10k a game cuz those guys want to avoid taxes.

    But the guys betting $25 up to $200 a game will convert over to casinos & online mobile internet betting IMO......
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  20. #20  
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    (Open to the possibility I'm completely wrong) I think this is going to hurt locals pretty badly. Why would I want to use a local when I can use a mobile app from a casino?
    The problem I see is that locals are going to be left with bottom of the barrel people who are mostly broke and can't pay.
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  21. #21  
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    Now I see that PA is arguing over the "rules and regulations". They recently said they have no timeline for a roll out and are hoping for a Jan 1, 2019 debut. This thing might take years with these political fools.
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  22. #22  
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    Quote Originally Posted by Foghorn View Post
    Now I see that PA is arguing over the "rules and regulations". They recently said they have no timeline for a roll out and are hoping for a Jan 1, 2019 debut. This thing might take years with these political fools.
    We do have a bunch of clowns in Pa trying to put this together.......but I do think they will try their hardest to get started by Sept after seeing the money brought in by Delaware & NJ from baseball, world cup soccer, etc.....there are lawmakers telling Pa to hurry up & get this rolled out by start of NFL season ......but if it doesn't, the latest will definitely be Oct or Nov.......I do not see Pa missing out on the bowl games & NFL playoffs & SB.


    Pa online poker & online casinos will be up & running by Oct to Nov......so I see sports betting around that time as well if not by Sept.
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  23. #23  
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    Quote Originally Posted by The Computer Group View Post
    We do have a bunch of clowns in Pa trying to put this together.......but I do think they will try their hardest to get started by Sept after seeing the money brought in by Delaware & NJ from baseball, world cup soccer, etc.....there are lawmakers telling Pa to hurry up & get this rolled out by start of NFL season ......but if it doesn't, the latest will definitely be Oct or Nov.......I do not see Pa missing out on the bowl games & NFL playoffs & SB.


    Pa online poker & online casinos will be up & running by Oct to Nov......so I see sports betting around that time as well if not by Sept.
    I certainly hope you are right but knowing what dunderheads these derelicts are I'm not optimistic. They'll find a way to screw this up, I'm sure. They should annex a few guys from Vegas to help. Heck, there are 2 guys working at Southpoint who are from PA...Chris Andrews and Jimmy V.
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  24. #24  
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    Quote Originally Posted by Foghorn View Post
    I certainly hope you are right but knowing what dunderheads these derelicts are I'm not optimistic. They'll find a way to screw this up, I'm sure. They should annex a few guys from Vegas to help. Heck, there are 2 guys working at Southpoint who are from PA...Chris Andrews and Jimmy V.
    Its certainly unreal how Pa passed legal sports betting last fall but have been twirling their thumbs since......they should have had the regulations & laws written & as soon as PASPA was overturned, should have been ready to go.........it was a cluster f**k from the beginning when put in a $10 million license fee & 36% tax rate, only the highest in the world.......what a joke, but I still think they will get it down with those high fees & taxes......they stated the regulations are temporary which I believe is for 2 years until permanent ones are put in.

    At least Delaware is only 1 hour & 15 minutes from me if I ever desire to bet at a sports book.
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  25. #25  
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    Pennsylvania would charge a 34 percent tax on a casino’s “daily gross sports wagering revenue” from sports bets. It’s the highest sport betting tax rate in the world, according to casino industry insiders.

    Pennsylvania last Thursday opened its application process. By Monday no casinos had filed.





    What a joke Pa has become on this issue.......let's see if any casino signs up with these massive license fees & taxes.
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