If Senate Majority Leader Harry Reid, (D-NV) gets his way on line poker will be run by Casinos in Nevada and throughout the United States. Reid’s staffers are floating a proposed bill that will legalize the game.

In 2006 American financial institutions were prohibited from processing on line gambling transactions. That move cost the industry billions. Online poker is a growing addiction worth $25 billion a year, according to ABC.

The bill which has not been officially introduced on the Senate floor has drawn criticism from the GOP. Republican lawmakers say it’s a ploy to pray on the addicted in an effort to pay down the national debt.

Rep. Spencer Bachus, in a letter obtained by the Wall Street Journal, wrote “ Congress should not take advantage of the young, the weak and the vulnerable in the name of new revenues to cover more government spending”

Opponents do acknowledge that legalizing it would increase addiction. However they feel if it was regulated states could keep tabs on the industry and intervene if necessary.

“We’re very strictly regulated, but then in the online space there are all these unregulated, untaxed groups running internet gambling.” Alan Feldman, spokesperson for MGM Resorts International told ABC.

In an interesting twist, Harry Reid had previously opposed legalizing online gambling. Apparently the sizable campaign donations by American Casinos have changed his mind.

 

Tags: harry reid, online gambling, american casinos
Categories: Casino News