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Is Pennsylvania’s Gambling Plan Irresponsible?

Is Pennsylvania’s Gambling Plan Irresponsible?

Pennsylvania’s state legislature is examining the possibility of expanding gambling in order to cover budget deficits. However, some are arguing that the state is over reliant upon gambling revenues and therefore putting those with gambling problems at greater risk.

Is Pennsylvania’s Gambling Plan Irresponsible?

Pennsylvania is considering allowing online gambling in order to collect more revenues, but many think that this is an irresponsible idea.

The state is currently considering legalizing online gambling. A recent study from a Philadelphia-based consultant found that online gambling could generate as much as $110 million per year for the state.

The study also found ways that the state could use in order to increase revenues from existing casinos such as lowering tax rates on gambling and allowing casinos to serve alcohol after 2am.

However, some argue that relying on gambling as a source of revenue is a bad idea.

They say that it often takes money from those that can least afford it and exploits their dreams of hitting it rich. On the other hand, many other states are doing this and Pennsylvania will ultimately suffer if it doesn’t find a way of bringing in extra money.

However as much as the state does allow gambling to expand, it will ultimately reach a maximum. At some point the state will need to find other sources of revenue, so regardless of one’s attitude towards gambling, it does seem sensible to investigate other possibilities.

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.

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