CEO Urges Against US Online Gambling

CEO Urges Against US Online Gambling

The US online gambling debate has experienced various ups and downs since efforts began to legalize gambling websites in the United States. With three states—Nevada, Delaware, and New Jersey—allowing its citizens to gamble online, experts have been predicting that the online gambling industry will grow into many other states. However, Las Vegas Sands CEO Sheldon Adelson is becoming an outspoken opponent of online gambling, causing many to wonder if other casino CEOs will follow in his path.

Adelson Seeks Ban on US Online Gambling

While most casinos are eager to embrace the legalization of online gambling, Adelson wants no part of it. Furthermore, he has made it widely known that he wants other casinos to have no part of it either. According to Forbes, Adelson states:

“As an industry leader, and more importantly as a father, grandfather, citizen and patriot of this great country, I am adamantly opposed to the legalization and proliferation of online casino gaming. With the expansion of internet gaming now taking place at the state level, I strongly urge Congress to either rewrite the Federal Wire Act, or pass new legislation making internet gaming illegal nationwide.”

Adelson runs the Las Vegas Sands casino, which has sister casinos in Hong Kong and Macau. Adelson is, as he says, and industry leader in gambling. He is often called one of the richest people in the world, and has been on top of the industry for years. Many cite his recent aversion to US online gambling as an effort to stay ahead of other casinos which will likely increase their profits exponentially by going online.

Coalition to Stop Internet Gambling

Adelson has gone so far as to start an advocacy group called The Coalition to Stop Internet Gambling which is dedicated to stopping US online gambling at a federal level. This is not the first foray into politics for Adelson—Forbes also reports that he has tried in the past to assert himself within the Republican party, and that his stance puts him at odds with presidential hopeful Gov. Chris Christie (R), who signed the online gambling bill into law in New Jersey. Regardless, experts claim that the creation and success of Adelson’s new group would tear apart the American Gaming Association–the gambling industry’s presence in Washington.

Adelson Faces Huge Challenges

If Sheldon Adelson wants to ban online gambling for everyone in the United States, he will face heavy opposition from his contemporaries in the industry. Other casinos, horse-racing tracks, state lotteries, and Native American tribes are all in agreement in supporting US online gambling. Along with many state legislatures seeing the potential benefits from allowing online gambling, Adelson and his supporters are heavily disfavored and outnumbered. He will have to convince the majority of Congress to back his plan and vote against online gambling, a measure that is already legal in three states.

Jason Field, the CEO of Instabill believes consumers today should have the right to decide for themselves whether or not they wish to gamble online or not. He comments: “Consumers can purchase flights, download music, movies, video games and pay for their medications online, so why shouldn’t they be able to play a game of cards or put some money down on his or her favourite sports team in the comfort of their own home or office? Today, people visit land-based casinos for the whole experience—cabaret shows, dinners and overnight getaways as well as visiting the tables and slot machines. As long as the online gambling industry is regulated and manages to protect those with addictions, everyone will benefit.”

US Online Gambling Merchant Accounts

If you have an online gambling website that needs a credit card processing solution, look no further. Instabill provides fast and reliable offshore merchant accounts for high risk merchants worldwide. Since the online gambling industry is picking up steam in the US, it is only a matter of time before US acquiring banks begin to accept online gambling merchants. With our wide range of domestic acquirers, Instabill will have domestic online merchant account solutions for you. Until that time, Instabill still has many offshore partners that will allow you to accept credit card payments on your gambling website. Take advantage of features like multi-currency and multi-card payments, real-time processing, tax benefits, reliable payouts, and more. To learn more about online gambling merchant accounts, contact us online or call 1-800-318-2713 to speak with a live representative today.

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