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The bill, proposed by State Rep. Danilo Burgos (D-197), would bring the emerging industry under the PGCB\u2019s oversight. \u201cThis \u2018regulatory arbitrage\u2019 leaves our constituents vulnerable and deprives the Commonwealth of significant tax revenue,\u201d the memo said.<\/p>\n
The legislation, called the Event Market Regulatory Act, would mirror the framework established by Act 42 of 2017 for sports wagering, per the memo.<\/p>\n
Key components would include:<\/p>\n
Robust Oversight:\u00a0Grants the PGCB exclusive jurisdiction to license and audit all operators, ensuring markets are not manipulated.<\/p>\n
Fiscal Parity:\u00a0Implements a\u00a034% state tax\u00a0and\u00a02% local share assessment\u00a0on gross revenue, ensuring these platforms contribute their fair share to the General Fund and local communities, just as our casinos do.<\/p>\n
Consumer Protection:\u00a0Mandates the same strict\u00a0Anti-Money Laundering (AML)\u00a0and\u00a0Know Your Customer (KYC)\u00a0protocols used by our regulated sportsbooks to prevent underage participation and financial crime.<\/p>\n
Responsible Gaming:\u00a0Requires operators to integrate with the state\u2019s\u00a0Self-Exclusion List\u00a0and provide users with deposit and loss-limit tools.<\/p>\n
Strong Enforcement:\u00a0Empowers the\u00a0Pennsylvania Attorney General\u00a0to prosecute any unlicensed entities or violators of the Act.<\/p>\n
Rep. Burgos is seeking co-sponsors for the legislation. The bill has not yet been submitted for introduction.<\/p>\n
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