When it comes to online gambling, the USA have always been a tough market to enter. Despite its huge potential, the US complex legislation have made legalising this form of entertainment extremely difficult over the years. PlayPennsylvania.com joined forces with OnlinePokerReport.com and made “A Billion-Dollar Opportunity for Pennsylvania” report, with a huge focus on legalising online gaming in this state.
A Billion-Dollar Opportunity for PA
Together with OnlinePokerReport.com, PlayPennsylvania.com has produced “Regulated Online Gambling: A Billion-Dollar Opportunity for Pennsylvania.” This research provides an objective aspect of the revenue potential for Pennsylvania’s online casinos, as well as the tax potential for the state. According to the research, legalising online gambling in PA could create a billion-dollar market within the next 5 years.
“New Jersey used as a comparison model for Pennsylvania.”
The successful example of New Jersey was used as the model for Pennsylvania’s potential online gambling future. There are a number of similarities between Pennsylvania and New Jersey and some of them include location, population as well as land-based gambling popularity. Altogether, it leads us to a conclusion that New Jersey is a solid comparison model, although maybe not an ideal one.
“The strong performance of the New Jersey online gambling market gives numerous reasons to be optimistic.”
The strong performance of the New Jersey online gambling market gives us numerous reasons to be optimistic that online gambling will be legalized in PA as well. When analysing statistics in New Jersey over the period of two years, revenue increased by a huge 60.1% to top under $200 million, without any sign it will begin to drop anytime soon.
PA Casinos to Gain Revenue from a New Market
The research suggests that online gambling in Pennsylvania will generate $230 million in gross gaming revenue in 2018, rising by 58.3 % to $364 million, within the next five years. These projections were made according to the performance of the New Jersey’s legal online casino market.
Disapprovingly, plentiful pieces of evidence suggest that this revenue will largely become a new one, made of new customers, and not simply a reshuffling of the existing casino revenue. Altogether, Pennsylvania would see an estimated $426 million in tax revenue through 2022, in case the state decides to regulate the laws during this year.
The Future Looks Bright
It is pretty much evident that the US market is thriving, so we’re optimistic that this report will raise awareness of the US online gambling’s potential, possibly resulting in the laws finally being authorized and regulated on a nationwide scale.
In case you are interested in reading more on this topic, check out the story Legalise Online Gambling in Pennsylvania for a Billion-Dollar Industry.