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w states Rival Pennsylvania in squeezing money from the gambling public. And legislators are looking to improve on that skill by expanding gambling into airports, the corner tavern and any home with a computer.
That would be a losing bet, according to a new study by the State University of New York.
In the study, by SUNY's Nelson A. Rockefeller Institute of Government, the Keystone State distinguishes itself by being arguably the nation's best at extracting revenue from state-sanctioned gambling,
with a total take of $2.4 billion in 2015.
But that's not a good thing, said Lucy Dadayan, the institute's senior policy analyst and author of the study. The 40-page report examines lottery, casino,
horse racing and video machine revenues pulled in by every state. It concludes that while the money brings short-term budget relief, the revenues ultimately decline, leaving states with budget holes to fill.
Gambling advocates argue that people are going to gamble in another state if Pennsylvania doesn't offer it.
So, it's better to regulate it and gain revenue that can help balance the state budget than allow that money to leave Pennsylvania for another state to tax.
Gambling is growing in Pennsylvania – despite predictions to the contrary
"We're not for or against gaming, but the numbers speak for themselves," Dadayan said. "They show that gambling revenues rise early, but decline as competition comes. As a budget revenue source, it's not sustainable."
That, argues state Rep. John Payne, R-Dauphin, is nonsense. The revenue it brings helps balance the budget, and the best way to keep other states from dipping into that revenue is to expand gambling here so that it remains a tourist attraction that creates jobs and revenue, Payne said.
SOURCE FULL STORY
That would be a losing bet, according to a new study by the State University of New York.
In the study, by SUNY's Nelson A. Rockefeller Institute of Government, the Keystone State distinguishes itself by being arguably the nation's best at extracting revenue from state-sanctioned gambling,
with a total take of $2.4 billion in 2015.
But that's not a good thing, said Lucy Dadayan, the institute's senior policy analyst and author of the study. The 40-page report examines lottery, casino,
horse racing and video machine revenues pulled in by every state. It concludes that while the money brings short-term budget relief, the revenues ultimately decline, leaving states with budget holes to fill.
Gambling advocates argue that people are going to gamble in another state if Pennsylvania doesn't offer it.
So, it's better to regulate it and gain revenue that can help balance the state budget than allow that money to leave Pennsylvania for another state to tax.
Gambling is growing in Pennsylvania – despite predictions to the contrary
"We're not for or against gaming, but the numbers speak for themselves," Dadayan said. "They show that gambling revenues rise early, but decline as competition comes. As a budget revenue source, it's not sustainable."
That, argues state Rep. John Payne, R-Dauphin, is nonsense. The revenue it brings helps balance the budget, and the best way to keep other states from dipping into that revenue is to expand gambling here so that it remains a tourist attraction that creates jobs and revenue, Payne said.
SOURCE FULL STORY
