How Parx Casino is changing PA Online Gambling

How Parx Casino is changing PA Online Gambling

What do you need to know about Parx Casino?

Parx Casino is an online gambling platform that offers horse racing games and other casino games. The casino is the largest online and casino gaming complex in Pennsylvania. Parx Casino is operated and owned by Greenwood Racing Inc. The casino allows its clients to enjoy state-of-the-art gaming infrastructure that includes live entertainment, thoroughbred racing, exciting events, and frequent promotions. The casino is built on a 260,000 square foot area with more space being in the Parx East, which is the home of the casino’s racing games. The establishment is just a 20 minutes’ drive north of Philadelphia City Center. Parx Casino boasts of 3,500 slot machines, 60 poker tables, 120 live table games, and live sports betting, thus making it one of the best PA online gambling venues.

PA Online Gambling Laws

PA online gambling is guided by the Pennsylvania gambling expansion law that was enacted in October 2017 and regulated by the PA Gaming Control Board (PGCB). The PA gambling expansion law that was passed by the Senate legalized online casino games, online poker, sports betting, and daily fantasy sports. The bill, H 271, expands the scope of online gambling beyond what the PA online casinos offered players.

The bill makes legal the following:

  • Daily fantasy sports
  • Video gambling terminals (VGT) for specific truck stops that meet the set criteria
  • 10 mini casinos
  • Online casino games including slots and table games
  • Online Poker
  • Sports Betting
  • It alters the category 3 casinos by removing membership fees, allowing for more slots, and allowing for a one-time fee.
  • Table gaming at specifically authorized airports

Tax Rates and Licensing Fees for PA Online Gambling

Taxation and licensing have been an issue of interest as far as the online gambling industry is concerned. The amendments made to the H 271 retained the tax rate for slots at 54 percent. The state now taxes the various products offered by online gambling casinos as follows:

  • Online slots: 54 %
  • Online poker and table games: 16%
  • Sports betting 36%
  • Daily fantasy sports: 15%

The products are also licensed distinctively. The H 271 bill establishes the following three separate licenses:

  • House-banked games
  • Online Slots
  • Online poker and other peer-to-peer online games

The law now requires online gambling companies to purchase licenses for each vertical they offer to players. A three bundle for all the three licenses is capped at $10 million and Parx Casino has already acquired this license. Purchasing a license for each vertical is more expensive since it has a single price tag of $4 million, which means that taking the licenses separately will mean casinos have to pay an extra licensing fee of $2 million.

Pennsylvania Online Gambling Payment Options

There are numerous payment options offered by online gambling casinos in Pennsylvania based on the gaming venue that you choose. The top payment options are:

  • PayPal: PayPal was established in 1998 to help people make payments for goods and services online. Most casinos in the country accept PayPal payments.
  • MasterCard: MasterCard is a common payment option in the world, implying that almost every casino accepts MasterCard payments.
  • American Express: American Express is a common payment option. Since about 25 percent of Americans use this form of payment, casinos have no worry of using it.
  • Visa: Visas are common payment options globally and players always want to enjoy the convenience that the payment option offers.
  • Skrill: Previously known as Moneybookers, this is a convenient online payment option for many online gamers.

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