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The Pennsylvania Gaming Control Board has granted a sports betting license to Harrah's.
PA licenses cost $10 million while taxes are expected to be among the highest in the nation. These costs will be passed onto sports bettors, thus making the idea of starting one's own online sportsbook a lucrative business.
Harrah’s intends to build out a 4,322-square-foot sportsbook facility inside its existing facility in Philadelphia.
Furthermore, the sportsbook will feature 40 flat-screen TVs and betting packages on all major professional and college sports. The sportsbook area will also have an odds board, several teller windows, self-betting kiosks, horseracing terminals and stadium seating.
The state has plenty of casinos and licenses to go around, though up to this point, operators have been reluctant primarily due to the high tax implications.
Harrah’s has now become the fifth of 13 casinos in Pennsylvania to receive a sports betting license. In addition, the PGCB also gave sports betting licenses to Rivers Casino Pittsburgh and Sugarhouse Casino in Philadelphia on Wednesday.
Parx Casino outside of Philadelphia is set to offer a sportsbook.
The US 5th largest city also has one of the most rabid sports fan bases, many of whom will be anxious to place bets on their local teams. The NFL franchise Eagles are currently reigning Super Bowl champs.
Philadelphia residents already have sports betting options. In addition to being able to play online with international bookmakers, Philadelphia area residents can also travel 45 minutes to check out the new Atlantic City sportsbooks.
- Aaron Goldstein, Gambling911.com
