Pennsylvania has been at the forefront of the online gaming industry for a few years now. In fact, it has proven to be one of the most successful states to have been able to implement gambling regulations and reap the rewards that have been gained since then.
As a result, ever since lawmakers passed a bill legalizing online casinos and poker in October 2017, companies have been rushing to set up shop in the state and look to try and obtain a slice of the pie that has been created.
Of course, it can be argued that there are several reasons why Pennsylvania is seen as an online gaming paradise, with many of them perhaps more evident and obvious than others.
Nonetheless, we will discuss five of them in this blog post and help to highlight why so many operators have already set themselves up within the state, whilst also providing you with an insight into what the thought process may have been, too!
What are the five reasons?
Firstly, let’s provide you with an outlook of the five reasons this article will highlight as being why companies believe the state is an online gaming paradise:
- Population size and potential of the market
- High tax rate
- Well-regualted industry
- Range of gaming options
- A growing number of casinos
With those five reasons listed above, it is quite clear how obvious some of them really are and why so many companies have already decided to enter the market within the state, although there may be a couple of factors above that might be more intriguing than others.
Let’s take a look at each of those reasons in detail and highlight why they have made Pennsylvania appear to be an online gaming paradise for many operators:
1. Potential market size
The first reason is the size of the potential market. Pennsylvania has a population of over 12 million people, which is more than that of any other state with legal online gaming. This means that there is a large pool of potential customers for companies to target.
Naturally, with the greater market size to try and target, and a market of almost 13 million, it only ever really made sense for operators to look to expand into the region and try to take advantage of the situation that has been presented to them. In fact, many would argue that it would have been rather shocking if they had not done so in the first instance.
2. High tax rate
Secondly, Pennsylvania has a very high tax rate on gambling revenue. This may seem like a negative at first glance, but it actually gives companies an incentive to set up shop in the state. The high tax rate means that there is more money to be made from gambling in Pennsylvania than in other states.
Of course, the more money that is generated is going to be a huge factor in why so many companies believe Pennsylvania is the online gaming paradise that many have talked about.
3. Well-regulated industry
Thirdly, Pennsylvania has a well-regulated online gaming industry. The state has put in place strict regulations to ensure that only licensed and reputable operators can offer games to residents. This provides a level of protection for players that are not found in other states.
Furthermore, Pennsylvania has a very supportive regulatory environment for online gaming. The Pennsylvania Gaming Control Board is responsible for regulating all forms of gambling in the state, and they have been very supportive of the online gaming industry. This has made it easy for companies to obtain licenses and operate in the state.
In fact, there are a number of licensed casinos by the Pennsylvania Gaming Control Board that is already just waiting to be used by punters within the state, and the number of options continues to grow as they are able to provide punters with a number of different benefits in line with the regulations that have been set out!
4. A wide range of gaming options is available
Fourthly, Pennsylvania offers a wide range of online gaming options. In addition to casinos and poker, the state also offers sports betting and daily fantasy sports. This gives players a lot of choices when it comes to finding games to play.
Naturally, whilst players can immediately benefit, online gaming companies are able to benefit as well. It means they can provide as many of their titles to punters, thus potentially attracting more and more players as they are able to cater to various gaming needs and desires.
We all enjoy having the ability to be able to pick and choose what we want to play, and with companies given a wider scope of the type of products that they can make available, this is just one of the biggest reasons why so many already see Pennsylvania as a gaming paradise.
5. A growing industry
Finally, whilst the state may have already shown that it can be a state that is full of potential and extremely successful at the same time, it continues to remain a region where the industry is able to continue to grow and expand at an exponential rate.
We already know that Pennsylvania has a growing number of brick-and-mortar casinos, whilst we have also seen the number of online platforms being offered continue to increase in their numbers, too. These casinos provide a great way for companies to promote their online offerings to a wider audience. The presence of these casinos also helps to create jobs and boost the economy, thus having a direct benefit on the state itself in more ways than one!
Conclusion
Overall, there are many reasons why Pennsylvania is seen as an online gaming paradise by companies in the industry. The state offers a large potential market, high tax rates, a well-regulated industry, a wide range of gaming options, and a growing industry. All of these factors make Pennsylvania an attractive destination for businesses in the online gaming industry.
