Excerpted with permission from The Washington Monthly.

We should know that too much of anything, even a good thing, may prove to be our undoing...[We] need ... to set definite boundaries on our appetites."
--The Book of Virtues, by William J. Bennett

No person can be more rightly credited with making morality and personal responsibility an integral part of the political debate than William J. Bennett. For more than 20 years, as a writer, speaker, government official, and political operative, Bennett has been a commanding general in the culture wars. As Ronald Reagan's chairman of the National Endowment for the Humanities, he was the scourge of academic permissiveness. As drug czar under George H.W. Bush, he applied a get-tough approach to drug use, arguing that individuals have a moral responsibility to own up to their addiction.

Upon leaving public office, Bennett wrote "The Book of Virtues," a compendium of parables snatched up by millions of parents and teachers across the political spectrum. Bennett's crusading ideals have been adopted by politicians of both parties, and implemented in such programs as character education classes in public schools--a testament to his impact. During the impeachment of Bill Clinton, Bennett was among the president's most unrelenting detractors. His book, The Death of Outrage, decried, among other things, the public's failure to take Clinton's sins more seriously.

His best-selling "The Book of Virtues" spawned an entire cottage industry, from children's books to merchandizing tie-ins to a PBS cartoon series. Bennett commands $50,000 per appearance on the lecture circuit and has received hundreds of thousands of dollars in grants from such conservative benefactors as the Scaife and John M. Olin foundations.

There is one vice, however, that has largely escaped Bennett's wrath: gambling. This is a notable omission, since on this issue morality and public policy are deeply intertwined. If Bennett hasn't spoken out more forcefully on an issue that would seem tailor-made for him, perhaps it's because he is himself a heavy gambler. The Washington Monthly and Newsweek have learned that over the last decade Bennett has made dozens of trips to casinos in Atlantic City and Las Vegas, where he is a "preferred customer" at several of them.

Bennett has been a high-roller since at least the early 1990s. A review of one 18-month stretch of gambling showed him visiting casinos, often for two or three days at a time (and enjoying a line of credit of at least $200,000 at several of them). The documents show that in one two-month period, Bennett wired more than $1.4 million to cover losses.

On July 12 of last year, Bennett lost $340,000 at Caesar's Boardwalk Regency in Atlantic City. And just three weeks ago, on April 5 and 6, he lost more than $500,000 at the Bellagio in Las Vegas. "There's a term in the trade for this kind of gambler," says a casino source who has witnessed Bennett at the high-limit slots in the wee hours. "We call them losers."

Bennett likes to be discreet. "He'll usually call a host and let us know when he's coming," says one source. "We can limo him in. He prefers the high-limit room, where he's less likely to be seen and where he can play the $500-a-pull slots. He usually plays very late at night or early in the morning--usually between midnight and 6 a.m." His desire for privacy is evident in his customer profile at one casino, which lists as his residence the address for (the Web site of Empower America, the non-profit group Bennett co-chairs). Typed across the form are the words: "NO CONTACT AT RES OR BIZ!!!"

Bennett's gambling has not totally escaped public notice. In 1999, The Washington Times reported that Bennett had been spotted at the new Mirage Resorts Bellagio casino in Las Vegas, where he was reputed to have won a $200,000 jackpot. Bennett admitted to the Times that he had visited the casino, but denied winning $200,000. Documents show that, in fact, he won a $25,000 jackpot on that visit--but left the casino down $625,000.

Asked by Newsweek columnist and Washington Monthly contributing editor Jonathan Alter to comment on the reports, Bennett admitted that he gambles but not that he has ended up behind. "I play fairly high stakes. I adhere to the law. I don't play the 'milk money.' I don't put my family at risk, and I don't owe anyone anything." The documents offer no reason to contradict Bennett on these points. Bennett claims he's beaten the odds: "Over 10 years, I'd say I've come out pretty close to even."

"You can roll up and down a lot in one day, as we have on many occasions," Bennett explains. "You may cycle several hundred thousand dollars in an evening and net out only a few thousand."

"I've made a lot of money [in book sales, speaking fees and other business ventures] and I've won a lot of money," adds Bennett. "When I win, I usually give at least a chunk of it away [to charity]. I report everything to the IRS."

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