03 October 2022 - Firm News
On November 15, 2018 Pennsylvania took its first live money sports wagers. Following the federal ban repeal in May, Pennsylvania is now the seventh state where legal sports betting exists, joining Nevada, New Jersey, New Mexico, Delaware, Mississippi and West Virginia. Currently, the Hollywood Casino at Penn National Race Course is the only casino accepting sports wagers. However, in spite of the Pennsylvania Gaming Control Board, which oversees the states gambling, instituting a thirty-six percent (36%) tax rate and $10 million sports betting license fee, five additional casinos have applied for sports betting licenses. Interestingly, the casino’s sportsbook will be managed by William Hill US, a subsidiary of the large United Kingdom sports book, which has slowly been striking deals with other casinos and sports teams throughout the United States.
This article was written with contributions from Tim Piscatelli.