Pennsylvania’s $5.7bn gambling revenue spurs credit card ban

Pennsylvania’s $5.7bn gambling revenue spurs credit card ban

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Pennsylvania’s $5.7bn gambling revenue spurs credit card ban

Fontana proposes banning credit cards for online betting at gaming sites, sportsbooks, and state lotteries in Pennsylvania.

Pennsylvania’s gambling industry brought in an unprecedented $5.7bn dollars last year, mostly from wagering on sports, fantasy sports, and internet gamlbing. A plan to outlaw the use of credit card payments for internet betting—including internet gaming sites, sportsbooks, and state lotteries—introduced by state senator Wayne Fontana.

According to a Pennsylvania State University research, over thirty-six percent of the state’s internet gamblers had a problem with their gambling. Furthermore, a recent investigation conducted by the Independent Fiscal Office of the state revealed that the average citizen has over 5,640 dollars in debt from their credit cards, which is twelve percent more than they had before the epidemic.

Fontana is worried about how credit card debt may be impacted by the increasing popularity of internet gaming, especially among young individuals. This measure seeks to outlaw the use of credit cards for internet gambling, joining states like Massachusetts, Tennessee, and Iowa in doing so. It also attempts to break the connection between debt on credit cards and digital betting.

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