New Pennsylvania Bill Would Ban Credit Cards for Online Gambling
Senator Wayne Fontana of Pennsylvania has introduced Senate Bill 1159, a legislative proposal to address the issue of credit card funding for online gambling accounts.
If passed, the bill would enact a comprehensive ban on using credit cards to fund various online gambling activities in the state, including online casinos, iLottery, daily fantasy sports, and sports betting apps.
Fontana’s rationale behind the bill is grounded in concerns over the increasing gambling debt among young adults aged 18 to 30. Citing data from a Penn State University report, Fontana underscores that 36% of Pennsylvania’s gambling clientele has reported facing at least one gambling-related problem, highlighting the urgency for preventive measures.
Additionally, Fontana draws attention to the average credit card debt carried by Pennsylvanians, which exceeds $5,600, further accentuating the potential risks associated with using credit cards for online gambling.
If enacted, Pennsylvania would join a handful of states, including Iowa, Massachusetts and Tennessee, in outlawing credit card funding for online gambling activities. However, the bill does not seek to impede online gambling entirely but rather encourages alternative funding methods.
Users would still be able to fund their accounts through cash deposits using popular apps such as PayPal and Venmo, as well as through debit cards and ACH transfers, promoting more controlled and transparent means of managing gambling expenditures.
Fontana’s bipartisan approach has garnered support from both sides of the political spectrum. Six co-sponsors, including Republican Senator Lisa Baker, have rallied behind the bill. This bipartisan support shows the universal recognition of the need to address gambling-related issues comprehensively, transcending political affiliations.
In terms of the legislative process, Fontana aims to expand the bill’s support base by recruiting more co-sponsors and advocating for an expeditious committee hearing within the coming weeks.
In the event of any setbacks during the current legislative session, Fontana remains committed to reintroducing the bill in subsequent sessions, demonstrating his persistence in tackling the issue.
Meanwhile, the online table games sector in Pennsylvania is experiencing significant growth. Projected revenue for 2024 is estimated to exceed $586.4 million, marking a substantial increase of over $100 million from the previous year.
While table games may not rival the revenue generated by slots, their steady growth trajectory is a testament to their recent popularity. Operators’ strategic expansion of live dealer offerings further contributes to the surge in PA online casino revenue, reflecting the evolving preferences of online gamblers and the industry’s responsiveness to meet these demands.
- Other news categories:
- SlotsUp's news
