Sheldon Adelson’s Gambling Ban Would Affect Thousands
As you have undoubtedly heard by now, whether it’s through this site or elsewhere on the Internet, Sheldon Adelson wants to stop online gambling. He feels threatened by the lucrative no deposit bonuses that online casino offers while publicly saying that it’s because of the dangers posed by online gambling. To fight online gambling, he introduced a bill titled the Restoration of America’s Wire Act.
The Restoration of America’s Wire Act, or RAWA, was presented in 2014. The bill calls for the closure of the “loophole” that allows states to legalize and regulate online gambling, and in doing so, would completely outlaw online gambling. Sheldon Adelson has been trying to drum up support anywhere he can get it, but fortunately, the bill failed to pass in 2014.
That doesn’t mean the bill is dead – far from it, actually. It’s a minor inconvenience for Sheldon Adelson, but he’s still going to press forward on the issue. He’s now in the back pocket of Senator Harry Reid, and that could be a problem in 2015, when the Restoration of America’s Wire Act will likely be reintroduced.
Just for fun (because, hopefully, this will never be passed), let’s take a look at what would happen if the Restoration of America’s Wire Act were to pass.
The first and most obvious thing that would happen is that Internet gambling would cease to exist. That’s right – the second the bill passes, it would render the online casino industries in New Jersey, Nevada, and Delaware illegal under federal law. It doesn’t matter how much money it’s brought in, or how much it’s helped out the state – it would be considered illegal under federal law and would have to cease operations.
It takes people to run those industries, right? They’d all be out of a job. It’s not just one person sitting behind a computer and flicking a switch, either, we’re talking thousands of people out of work in New Jersey, Nevada, and Delaware. This would put a tremendous strain on those three states.
The impact would stretch beyond that – what about the companies that process payments? How about the companies that verify the identity and location of all players? Gone. Those people would be out of work as well.
Most importantly, the states would hurt.
Take a look at New Jersey. It’s strapped for cash, especially with the closure of several of its casinos. Fortunately, they’re not posting a loss in that industry for 2014. Why? Online gambling. Thanks to online gambling, New Jersey will have $18mm in direct tax revenue.
The Restoration of America’s Wire Act isn’t just bad for the online gaming industry, it’s bad for the country. Its impact would be felt nationwide, and its passing would destroy what so many people have fought so hard for.