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PA Counting On Just $100M From Online Gambling, Sports Betting Licenses

In 2017, lawmakers were counting on $200 million  from online gambling alone in the current fiscal year. Almost none of that revenue has been realized. It’s not clear if the people responsible for crafting the budget are excluding some revenue that was planned from licensing in the 2017-2018 fiscal year, even though it hasn’t been realized. In either event, the federal sports betting ban was still on the books before New Jersey won its sports betting case in the US Supreme Court. The sports betting licenses were not factored into the 2017-2018 FY budget, and would be included in the budget for the first time this go-round. That, alone, would create $130 million in revenue if all were sold. The state has moved ahead with PA online lottery in the interim. It’s not clear if the people crafting the budget are just being conservative or if the $100 million figure has some basis in reality. After all — if all the licenses sold out, that would create more than a quarter of a million dollars.

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