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Study Finds Online Gambling Would Benefit Pennsylvania

Study Finds Online Gambling Would Benefit Pennsylvania

Last week the Pennsylvania Legislative Budget and Finance Committee released the results of a study into the potential effects of online gambling on the state if it is legalized.

Study Finds Online Gambling Would Benefit Pennsylvania

A study published last week found that online gambling would bring more benefits to Pennsylvania than harm.

The study was carried out by Econsult Solutions of Philadelphia. As well as looking into the monetary benefits of online gambling, the study also examined any potential knock-on effect it would have on the state’s 12 casinos.

The study found that online gambling could bring in as much as $184 million in its first year of operation. The state could go on to receive additional revenues of up to $307 million per year in successive years.

It is thought that $178 million would come from online casinos and $128 million from online poker rooms.

Those in favor of online gambling are hoping that the study will help further the cause. At present it is thought that the state’s budget deficit will soon grow to over $1 billion and any extra revenue is likely to be welcomed.

The study also found that online gambling would be likely to compliment the land-gambling industry. For example online poker rooms could hold tournaments which feature finals in land casinos.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.