The budding sports betting field is one of the most debated topics in the past couple of weeks ever since the US Supreme Court made official its decision to lift the ban on wagering on sports events and give each state the freedom to make decisions on its own. Pennsylvania prepared for this ahead of time and now casino operators developing in the state can start submitting their applications for sports wagering permission.
The Keystone state might be one of the first gambling fields to introduce legal sports betting to its residents and the foreseeable future appears to be bright. It could be recalled that in the summer of 2017 the authorities of Pennsylvania made it clear that they are going to work towards devising a wide-ranging gambling expansion which is going to aim to improve the financial state of Pennsylvania and potentially fill the gaping hole in the state budget.
Within the range of the said expansion the Legislature and Gov. Tom Wolf put in the effort to not only provide the proper regulation to the future online gambling field and the 10 new Category 4 casino venue which were planned, but also to pave the way for sports betting. Now this proposed move is one step closer to both the players and the businesses preparing to develop in the field, as each casino operator who has a license for operation issued by the state of Pennsylvania now has the chance to file in their application for sports betting offerings.
Details around the Application Process
Under the new regulation which was issued by the Pennsylvania Gaming Control Board, every company which owns a category 1-3 license for operation now is able to apply for one of the special Sports Betting Certificates which amounts to some $10 million. With this document acquired they will have the green light to then provide their customers with their very own sports book which to ultimately launch sports wagering in the state.
The first step which would guarantee the acquisition of a license is for every casino developer to provide information regarding its financing status. This would guarantee that the business has prepared and is ready to invest in the new venture. There is also the requirement that each applicant provides the gaming regulator with its idea of how each player will be adequately protected while participating in sports betting activities and how the operation is going to be regulated in a way that is beneficial for all parties involved and their rights are respected.
Once an application is received by the gaming regulator, there is going to be a 120-day window dedicated to the background checks which are required by the state. In addition to that, there would also be a facility review performed for each casino developer which applies for such gaming permit. According to the regulations recently made public the venues where sports wagering is going to be provided should be physically connected to the main gambling venue of the given operator.
Nevertheless, it should be clear that the state is determined to take its time when it comes to the regulation and the licensing of businesses and for the time being, there is no intention to race with other states to the likings of Delaware and New Jersey.