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> A coalition backed by billionaire casino executive Sheldon Adelson lobbied the Justice Department in 2017 to reconsider its 2011 decision that cleared the way for states to allow online gambling. Adelson was a major financial supporter of Trump and the GOP in 2016 vis-à-vis the Future 45 Super PAC. His wife was recently awarded the Presidential Medal of Freedom. This decision was bought and paid for.
No one has yet described the actual consequences of this, and as far as I can tell, there haven't been any.
> A coalition backed by billionaire casino executive Sheldon Adelson lobbied the Justice Department Crony capitalism 101
I don't care what side of the aisle you're on, if you don't see this as textbook corruption, you're on the take, period.
This isn't even a conspiracy theory, this is just obvious fact. Adelson paid for this with his billions, in an effort to stamp out a business concern.
> A coalition backed by billionaire casino executive Sheldon Adelson lobbied the Justice Department in 2017 to reconsider its 2011 decision that cleared the way for states to allow online gambling.
California made $7 billion from their lottery last year alone. But you can't run one!
I see this as a bad thing, but I've still been able to place sports bets in the US online for years, and I logged into ACR today and played an hour of NL holdem, and my computer wasn't seized by the FBI. No one has yet described the actual consequences of this, and as far as I can tell, there haven't been any.
As it may be of interest, here's the related portion of the Wire Act: Whoever being engaged in the business of betting or wagering knowingly uses a wire communication facility for the transmission in interstate or foreign commerce of bets or wagers or information assisting in the placing of bets or wagers on any sporting event or contest, or for the transmission of a wire communication which entitles the recipient to…
https://gist.github.com/jeremyaboyd/6012e7c0d80138f366064d69...
What does this say about prediction markets? I wouldn't implicitly consider them gambling, just as the financial markets are not precisely gambling.
It's splitting hairs IMHO. Lots of things we find acceptable are basically gambling like the stock/bond/futures markets, insurance, and prediction markets. Maybe a better answer is why we ban gambling at all. There are people who have a problem with it, but maybe a better solution is to get them help to break the cycle instead of banning it in some cases but not others.
There are huge social consequences to gambling. If you look at an entire society you have some people that will have problems with it and some people that won't. You may fall into the "won't" pile but surely society benefits if we prevent a large number of our members from falling prey to addiction.
I see this as a bad thing, but I've still been able to place sports bets in the US online for years, and I logged into ACR today and played an hour of NL holdem, and my computer wasn't seized by the FBI. No one has yet described the actual consequences of this, and as far as I can tell, there haven't been any.
Those offshore sites are scams. The scam is they take your money but if you ever win big you will never see it payed out (deposited in a real bank account belonging to you). You will then become one that post on forums on how you can't get your money out, until they finally close shop and run once enough people have been scammed.