Sheldon Adelson is a very rich man. He’s a billionaire. He owns casinos. Lots of them. So you’d think that he would be pro-gambling. He’s not. Well, not online gambling.
The billionaire casino magnate is spending a disgusting amount of money to put a stop to Internet gambling. With New Jersey, Nevada, and Delaware currently offering online casino and poker games, and with other states looking to do the same, Adelson is worried about a federal online gambling bill that could regulate the industry across the country.
For most Americans, this is a great thing. They could freely play at Internet casinos knowing their money is safe and secure. Not all sites are reputable like Prism Casino is. Not all sites pay their players fast like Prism does. Not all sites enforce over-21 gambling requirements to make sure that players aren’t violating the law.
With a regulated US market, players wouldn’t have to worry about playing at some of our competition’s websites, which might not be on the up and up.
But Adelson is against that. He says it’s for moral reasons. He claims it’s to stop gambling from reaching those who are underage. He says it’s to stop terrorists from funneling money, or at least so are the messages of his Stop Internet Gambling coalition. I might buy into some of Adelson’s concerns if it weren’t for one simple fact. He’s a rich man who just wants to get richer.
Case in point? Adelson is investing a ton of money in an effort to become the main player when Japan opens up its market to casino play. The untapped market is highly coveted thanks to the high number of billionaires and its close proximity to China.
If degenerate gamblers were to enter his new casinos in Japan—those who are about to lose their last shirt on their back—would Adelson turn them away from the tables? Do his casinos turn away people in the United States? I don’t think so.
In fact, online casinos allow you to set spending limits and limit how often you play. You can self-exclude yourself from playing online, but you can’t do that live. Sure, some land-based casinos offer self-ban programs, but they don’t always work. Online, it’s easier to enforce.
I also wonder if Adelson will be pro-Internet gambling in Japan if he ends up being the only major player. I think he will, not because he’ll have a change of heart. But instead because he would be the main player.
That’s the main problem. If Internet gambling opens to regulation on a national scale, it will be Adelson who loses money. Bigger players will end up grabbing the market. That’s happening in New Jersey right now, with The Borgata taking most of the poker market.
My opinion isn’t that Adelson is morally better than the rest of us. It’s that he doesn’t want to lose money to the big players.
Unfortunately, Adelson is forgetting one thing. Internet gambling doesn’t steal business from land-based. They actually complement each other. Talk to any of the New Jersey land-based casinos. Golden Nugget, for example, recently held a job fair for 50 openings. Over 1,300 people showed up. I don’t think the land-based properties have much to worry about. So, Adelson, your billions are safe, no matter what happens.
*The opinions expressed are those of the writer only and do not reflect the opinions of PrismCasino.com or its management.