If you live in Texas . . . there goes your office pool.
Texas Attorney General Ken Paxton made an Obama-like executive action on Tuesday and declared Daily Fantasy Sports (known as DFS) illegal in the state.
Paxton played the “duty” card by saying, “It’s my duty as Attorney General to look to the law, as passed by the people’s representatives, to answer the questions put to this office. Paid daily ‘fantasy sports’ operators claim they can legally operate as an unregulated house, but none of their arguments square with existing Texas law. Simply put, it is prohibited gambling in Texas if you bet on the performance of a participant in a sporting event and the house takes a cut.”
The real target of the Texas AG’s action was online betting site, which takes away from Vegas money in a way that has brick-and-mortar casino owners throwing money at lobbyists to shut them down.
The biggest spender to stop online gambling has been Sheldon Adelson who said he’s “willing to spend whatever it takes” to stop people from placing bets from the comfort of their armchairs.
For those who don’t know who Adelson is, he’s the CEO of the Las Vegas Sands. He also owns the Las Vegas Review-Journal.
Adelson, a Democrat turned Republican, has used the force of government to shut down a competitor – rather than choosing to compete in the free market.
The billionaire’s tactics are straight out of Atlas Shrugged.
And in the Lone Star State, Adelson and his lobbyists won.
If you’re a fan of Fantasy Sports, don’t think that Texas is an anomaly. A dozen more states are being targeted by opponents of online gaming, and there’s a strong likelihood that your state is next.