Online Gambling Operators Invest Millions in US Lobbying
With the need to be in pole position when the US online betting market reopens currently of paramount importance, several gambling operators have invested tens of millions in lobbying legislators.
According to an article in the Telegraph, PartyGaming, PokerStars and Sportingbet have all invested in recruiting lobbyists to represent their specific interests in the America and attempt to turn the ears of US lawmakers in their favour.
With US law stipulating that all companies must disclose their expenditure on lobbying, recent reports have revealed that foreign operators are investing heavily in a bid to try and influence the future design of online gambling in the US.
Gaming insiders have speculated that the US-based companies will benefit from a huge advantage on licensing when the laws change, and the figures released by PartyGaming and Sportingbet clearly indicate that overseas operators are willing to spend big to try and prevent such pro-domestic changes from happening.
The size of the potential profit from the US market seen by these companies is clear from their determination to invest in lobbying, but there are further benefits to be had by overseas operators obtaining a favourable change in legislation.
Both PartyGaming and Sportingbet are currently involved in ongoing negotiations over previous online gaming actions, and a positive change in the law could save them millions in legal expenses and settlement pay-outs in addition to re-positioning them to enter the lucrative US gambling market when the new laws are applied.