4 Things you should know about Sports Betting in Pennsylvania
Recently, sports betting in Pennsylvania has been legalized. It is the seventh state to declare sports betting to be legal. This is very good news for those living in Pennsylvania and who are eager to gamble. Here are some things you should know about sports betting in Pennsylvania.
Sports betting was legalized in Pennsylvania in October 2017. There are now eight sportsbooks in Pennsylvania which include SugarHouse, Rivers Casino, Parx, etc. All of them are quite popular now and doing good business. Soon, there will be more sportsbooks.
Online betting is yet to be introduced in Pennsylvania. But it’s going to be soon. A number of sportsbooks are already working on their apps to start online betting. If you want to bet online, you don’t need to be a resident of Pennsylvania; however, you must stay in Pennsylvania while betting.
The betting app has geolocation technology that will find out your location before you will be able to place a bet.
The transactions will be similar to that in New Jersey. Using the app, you will be able to do all your banking. You will be able to deposit or withdraw money using debit cards, credit cards, eWallets, bank transfers, eChecks, etc.
The gambling tax in Pennsylvania is the highest among all the other states. Most states have a tax rate of 10% to 20%. In Nevada, it is only 7% and in Pennsylvania, it is 36%. This tax has to be paid by the casinos from their profit. The individual bettor doesn’t have to pay the tax.
In the past gambling was prohibited anywhere outside Nevada. But things have changed now. Like Pennsylvania, sports betting has been made legal in a number of other states as well and more states will make it legal in future too.
The high gambling tax is a problem for the casino owners in Pennsylvania. It will discourage people to start sports betting businesses.
However, the casino owners in Pennsylvania are hopeful that the law will change soon and they will be able to pay a tax similar to that in other states.