Pennsylvania Bill Allocates Sports Betting Revenue Toward Property Tax Relief
A bill in Pennsylvania has been drafted which would reallocate revenue generated by sports betting toward offsetting property taxes. The bill was generated by Senator Doug Mastriano of Pennsylvania.
Pennsylvania taxpayers have been hit hard by the effects of the Coronavirus pandemic. Residents have been struggling to keep up with property tax payments, among other essential payments as deemed by the United States Government.
While sports betting revenue is usually allocated toward the General Fund, Senate Bill 1117 would place all sports betting revenue profit toward property tax relief.
The Current State of Pennsylvania
Governor of Pennsylvania Tom Wolf has had the state, or commonwealth, shutdown like other states in order to halt the spread of coronavirus. As unemployment has risen to six percent, Wolf is looking in many directions for solutions and support.
Unfortunately, we cannot flip a switch and reopen the commonwealth. There’s not going to be one big day. We need to be smart and make data-driven decisions.
The reallocation of sports betting funds in Pennsylvania could certainly be helpful in the short term. Unfortunately, the decreased player base in online and in-person betting inspires cynical projections on its long-term effectiveness.
While Governor Wolf would certainly want to stimulate the economy as quickly as possible, sector-by-sector rollouts are more likely.
Sports Betting in Pennsylvania
The sports betting atmosphere in Pennsylvania has taken a big hit due to the Coronavirus pandemic. While they reported $316 million in revenue during March of 2019, Pennsylvania only brought in a merger of $153 million during March of 2020.
With a mandated shutdown of businesses that are not ‘life-sustaining,’ many Pennsylvania families find themselves out of work with no income and have voiced concern about paying their property taxes. It is imperative that we help our citizens now during their greatest time of need, and temporarily re-allocate sports betting revenue toward property tax relief.
With the sports betting market in Pennsylvania slowing significantly, Governor Wolf has made it clear any revenue that isn’t life-sustaining can be put toward supporting Pennsylvania’s citizens. While Wolf’s intentions are to open up the industry a sector at a time, SB 1117 may help bridge the gap.
Pennsylvania Sports Betting FAQs
Is sports betting legal in Pennsylvania?
Yes. Sports betting was legalized in Pennsylvania in 2017, both online and in-person at regulated casinos and websites.
What is the most popular sport in Pennsylvania?
The most popular sport in Pennsylvania is football, specifically college football.
What professional sports teams are in Pennsylvania?
The state of Pennsylvania houses six major league sports teams. Four in Philadelphia, the Eagles (NFL), Flyers (NHL), 76ers (NBA), and Phillies (MLB), and three in Pittsburgh – the Penguins (NHL), Steelers (NFL), and Pirates (MLB).