Sheldon Adelson Wants Online Betting To Be Illegal

The owner of the Las Vegas Sands brand of casinos wrote an article in Forbes this week in which the casino mogul stated his desire to make internet gambling illegal within the United States.

While trying to strike fear into the hearts of readers by making claims that invoke the very extreme end of gambling, Adelson states: “I strongly urge Congress to either rewrite the Federal Wire Act, or pass new legislation making internet gaming illegal nationwide.”

To further his point against "The Big Bad Wolf" that is internet gabling, Adelson says that the land based gambling industry will suffer, causing the loss of 400,000 jobs in the U.S. and cause tribal casinos to disappear. Adelson makes these claims even though several studies have emerged which show that online gambling does not cannibalize the land business, but instead works in conjunction to help strengthen betting brands throughout legalized countries.

Even with his deep pockets, it is unlikely that Adelson will see online gambling being completely outlawed in the States. The industry is too lucrative for cash strapped states, and any positive results from the three already legalized markets will likely cause other states to adopt similar measures.