Pennsylvania GCB passes first sports betting regulations

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Pennsylvania Gaming Control Board has determined a set of regulations concerning sports wagering within the state, after its representatives passed a decree in a meeting last Wednesday. According to betting framework in the works, casinos will be able to apply for licenses to engage in sports betting services. However, setting up a physical sports book with an accompanying Sports Betting Certificate will come at a colossal price of $10 million.

Furthermore, operators who want to apply for licenses will also be required to exhibit appropriate financing methods to successfully run a sports book, as well as to showcase experience and ability in providing security systems. However, participating casino groups will finally be able to apply for an interactive gaming license, which allows them to operate mobile betting within the state’s borders.

The Pennsylvania Gaming Control Board is bound to run background checks within 120 days after receiving the applicant’s complete documentation. In reference to the infrastructure, sports books must be physically attached to the casino’s gaming floor and fulfill an extensive list of strict licensing protocols. Since the regular season of major sporting events starts in September, the timing for operators to get a jump start on the market is crucial. Spokesman of the Pennsylvania GCB, Doug Harbach, said that the board’s role is to protect the public but also provide sports betting licenses. By staying cautious and choosing the right approach, we will not unleash wagering on sports in the Commonwealth, adds Harbach.

The state did not address so-called category 4 mini casinos, whose initial licensing revenues were pretty successful. If Pennsylvania starts a second round of auctions, this might change, and five mini casino licenses could get acquired in the following months. Speaking about the major beneficiaries of the newly passed regulations, Harbach said that SugarHouse, Parx and Harrah’s are among the first to make sports betting a reality, due to their financial and savvy influence.

Pennsylvania GCB passes first sports betting regulations was last modified: May 31st, 2018 by Natalie Stephanopoulos