There is a major war going on right now in the gambling world. Billionaire casino magnate, Sheldon Adelson, is pushing for a ban on online betting. This war is creating a great divide between the power groups in Washington, and the donations by the political interest groups.
WHO IS BEHIND ALL OF THIS
Adelson recently kicked off this push on Wednesday. He argues that online betting is bad for casinos and the gambling industry, as a whole. This bill would close the loophole. Many states have recently legalized online gambling. If this bill is pushed through, online gambling will be shutdown, indefinitely.
WHO IS SUPPORTING HIS EFFORTS
Senator Lindsay Graham recently endorsed Adelson’s bid to shut it all down. This comes on the heels of Graham accepting thousands of dollars in donations from Adelson’s own personal interest groups and other family members. Graham recently lobbied for this bill to be passed on Adelson’s behalf.
MR. ADELSON’S CLOUT
Mr. Adelson has already threatened to withdraw his support from many gambling groups, including the American Gaming Association. He threatened this recently, if the industry continued to back the efforts and support of online gaming.
Mr. Adelson is worth a reported $36 billion and he continues to lobby for many ideological issues of the Republican party. This is just one of the ways he shows his clout in politics and the industry itself.
AN ONGOING BATTLE
The casinos are gearing up for this ongoing battle. It seems that in the gambling industry there are only two sides. One side is for it, the other against it.
Mr. Adelson is already working on thing from his side too. He is getting a lot of support from other Republican leaders. He is also getting his support from some Democrats. The only Democrats supporting him, are those that feel a threat with online gaming. Some view this as a bad influence on minor. Mr. Adelson is using this to his own advantage.
THE GAMBLING INDUSTRY IS FGIHTING BACK
There are many who are siding with the gambling industry, including the Coalition for Consumer and Online Protection. The other unlikely resource for them is, former Republican house member Mr. Oxley. According to Oxley, “You can’t control the internet. The world has changed so much and there no good ever comes out of trying to control the internet.”
WHAT IS AT STAKE
For one, it’s the image. The gambling industry has been portrayed for a long time as family-friendly. But now, some worry that this fight could damage the reputation of the gambling industry, as a whole.
This fight is nothing new for the gambling industry. For a long time now, many have questioned whether or not online gaming should come to a close. Many have questioned if online betting is actually a good thing.
So for now, it seems as though the war is on. What will happen in the end? We will all have to wait and see.