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Online Casino Sites Part of Huge British Lobby Group in U.S.

A Washington newspaper reported this week that British companies, including some of biggest operators in online casino sites and gambling have spent over $165 million in the past 8 years, attempting to gain sympathetic ears in US legislative circles. The report claims that there have been rumors of corruption and monetary offers in exchange for recognition of the online casino sites and other gaming sites. US Democrats have quoted saying that the practice of online casinos being involved in lobbying in ‘poisonous’.

Online casino sites and gambling in the United States is part of the grey laws in society at the moment. Most states still consider it illegal. Some states however are more vigilant about imposing the laws against online casino sites and gambling, while some are more lax in their approach. Online casinos are generally legalized offshore in smaller countries which are happy for the tax revenues that this type of industry generates.

Because online casino sites and gambling are a global pastime, it is understandable that the foreign companies would want to lobby the United States for complete recognition – receiving recognition from the United States would open up the online casino sites market to a massive untapped source of clientele. British foreign lobbyists include UK betting group Sporting bet – reported to have spent $1.62 million since 1998, and $760 000 in 2004 alone.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.