2016 Rio Summer Olympics Wrap Up, Nevada Sports Betting Does Not Medal

The controversial 2016 Rio Summer Olympics are officially in the books, but the sports publications in Nevada had interest that is little their outcome. For the first time since the Sydney Games in 2000, sports betting was permitted in the Silver State with this year’s 16 days of competition, but evidently, bettors were less than excited about their options.
Us gymnast Simone Biles, who took home four gold plus one medal that is bronze carried a flag during the closing ceremonies. But Nevada sports books had little to wave a flag about at the conclusion of the time.
Action was slower than slow, according to those who just take wagers in nevada’ biggest casinos. Perhaps a few of the lesser known events merely don’t jibe with the normal sports that are american. From badminton and canoe slalom, to rhythmic gymnastics and swimming that is synchronized Las Vegas sports books lined up the odds, but few took them.
‘We most likely have actually taken about as much in Olympic wagers as we’d on a big baseball game, regular season,’ Mirage oddsmaker Jay Rood stated this thirty days.
The disappointing, yet not olympics that are totally unexpected Nevada casinos might trigger less enthusiasm for the 2018 Winter Olympics in Southern Korea since well. It was no simple feat for oddsmakers to prepare lines for a host of athletic disciplines most were utterly unfamiliar with.
Big Bets, Little Pay
Even the casual sports fan knows the name Michael Phelps, as well as the many decorated ever that is olympian up to their hype. Phelps won five regarding the six events he competed in and departed his olympics that are final a total of 23 gold medals.
And for bettors in the Silver State, the relative lines on Phelps were nearly off the chart.
At Bovada, Phelps was a -300 favorite within the 100m butterfly, and his 4x200m freestyle relay team required a $700 bet to win $100.
However it was fellow US swimmer Katie Ledecky who got the most respect in the pool with the freestyle that is 800m. Those trying to profit off Ledecky’s dominance needed to wager a staggering $25,000 to win simply $100.
As crazy as that noises, it was a bet that is good as Ledecky cruised to a world-record time and beat the silver medalist by nearly 12 moments.
Team USA basketball women and men also wowed bookies in Nevada. The men had been -2500 favorites and the ladies had been listed at -1400. Both won their tournaments.
Overall, Team USA won the greatest medal count of most participants with 121 total gold, silver, and bronze. Asia placed second with 70, and Great Britain 3rd at 67.
Host nation Brazil won 19 total medals, and garnered plenty of criticism as well. Insufficient housing, contaminated water, crime, and final but certainly not least, Zika, all plagued the lead-up to the competition.
Lochte and Loaded
The games had been definitely not without scandal before US swimmer Ryan Lochte took center stage, with incidents of rape and robbery being reported in the first days that are few. But Lochte’s actions overshadowed much of the last few days of the Games, in what numerous athletes might have considered a cloud over their moment in the sun.
In what would later on be a fable concocted by the 12-time medal winner, Lochte’s tale about being robbed at gunpoint almost completely took over the last days of the Olympics.
‘I over-exaggerated that story,’ Lochte told NBC throughout the weekend. ‘They place on a games that are great . . [but] my behavior that is immature tarnished a little, and I also don’t desire that.’
Their mea culpas might have come too late, nonetheless. Speedo terminated its sponsorship on Monday, amid Lochte’s late-out-of-the-gate admission he had way too much to drink that night making bad choices because from it. It’s unclear whether his other backers, including Gillette, Gatorade, and AT&T, does the same.
The International Olympic Committee (IOC) will more than likely not be rushing straight back to a developing nation anytime soon again, but nevertheless, left the nation on a positive note.
‘We arrived in Brazil as guests. Today we depart as your friends,’ IOC President Thomas Back said during the closing ceremony.
New York Assemblyman Pretlow to Drive for Legal Sport Betting
Assemblyman Gary Pretlow wants sports wagering for New York but admits you can find significant issues that are legal his way. (Image: Jefferson Siegel/New York Daily News)
New York Assemblyman Gary Pretlow wants to create legal sports betting to New York State. Pretlow was instrumental in orchestrating the regulation of day-to-day dream https://myfreepokies.com/pelican-pete/ sports in New York and views no reason to stop while he’s on a roll.
Pretlow told the Democrat Chronicle this week that, like New Jersey in recent years, he wished to test opposition that is federal sports wagering, and much more specifically PASPA, the Professional and Amateur Sports Protection Act 1992, which
‘I’m considering this present year putting in legislation similar to New Jersey’s legislation, and hopefully it gets to court into the Second Circuit, and hopefully we get yourself a different opinion,’ he said. ‘we am a believer in legalizing recreations wagering.’
Concern About ‘Vice Bills’
But first a legislative push would have to convince both chambers that legal recreations wagering is the right thing for New York, at the same time as soon as the state is cautious about passing more so-called ‘vice bills,’ after the legalization of casino gaming, MMA now DFS. The question of legalizing sports gambling would also most likely require an amendment towards the continuing state constitution by public referendum.
‘ Any discussion of legalizing sports betting in NY is premature at this true point,’ Pretlow conceded. ‘There are significant issues that are legal think about before undertaking this undertaking.’
It’s difficult to see how nyc could succeed in the courts that are federal where nj has failed at every turn. Early in the day this the United States Court of Appeals for the Third Circuit blocked New Jersey’s attempt to offer sports betting at its casinos and racetracks once again, ruling that it would be a violation of PASPA month.
PASPA ‘Not Fair’
‘It’s not fair that only one state is permitted to legitimately take sports bets,’ Pretlow said, inaccurately.
While Nevada is the only state that offers full-scale activities wagering, Oregon, Delaware and Montana are also lawfully permitted to take action, having being exempted by PASPA because they had currently legalized before the passage regarding the bill in 1992. Delaware offers sports that are limited at its racetracks, while Oregon and Montana simply choose not to.
The American Gaming Association, which advocates for the legalization and licensing of sports betting, has said that 80 % of Super Bowl watchers are in favor of regulation, while 65 believe that is percent sports betting will either bolster the integrity of games or have no impact on game outcomes.
‘This law [PASPA] has failed miserably,’ said AGA Chairman Geoff Freeman recently. ‘People in america spend a believed $150 billion a betting on sports, only 3 percent from it legally. year’
Glenn Straub Threatens to Abandon Revel Atlantic City
Revel Atlantic City owner Glenn Straub says time is running down for local officials to accept his casino and hotel permits, otherwise he’s ready to abandon ship. (Image: Jacqueline Urgo/Philadelphia Inquirer)
Developer Glenn Straub says he’s considering abandoning his resurrection plans for Revel Atlantic City unless local officials in New Jersey change their governing ways.
The Florida-based property millionaire was once again before nj-new jersey’s Casino Reinvestment Development Authority (CRDA) last week. Straub is seeking a permit to work the resort.
Straub has performed renovations in the $2.4 billion shuttered home to add a ropes and cycling course that is 13-floor.
The changes needed brand new traffic-flow allows from the CRDA, however the governing organization claims it needs extra information. The CRDA has also dragged its legs in approving a casino permit for Revel, even though Straub has hired a gambling operator to manage the facility’s gaming.
The CRDA argues Straub’s business, Polo North nation Club Inc., hasn’t filed the appropriate paperwork.
‘I can’t think exactly how much bureaucracy here is in this state. This is just what New Jersey is known for,’ Straub opined to reporters during a break. ‘This state stinks.’
Straub said he’s got ‘other things you can do’ then wait on New Jersey and Atlantic City officials.
Straub’s Bluff?
Straub seemed resolute in professing his willingness to abandon Revel in its entirety, but that would mean quitting on his $82 million investment he paid in 2015 to find the resort that is bankrupt. However, that’s amount change set alongside the $500 million Straub initially devoted to the place that very first opened in 2012.
His plans of converting the resort into a ‘recreation-based center along with casinos’ have struck one roadblock after another.
Just four months ago, Straub told Forbes, ‘Atlantic City is a perfect spot to put money. It’s going to grow ten times what it’s now worth.’
Straub and billionaire Carl Icahn both pledged to revitalize the gaming coastline town. Icahn changed his mind this month by announcing the closure of his Trump Taj Mahal.
Originally scheduled to open on June 15 as a hotel-only facility featuring the recreational activities, unattained permits have kept the lights dark at Revel.
Straub is now intending for an opening, but his patience is wearing thin october.
‘ I don’t have enough time to be screwing with this stuff,’ Straub declared. ‘This is 10 times worse than just what it would be anyplace else.’
After Which There Were Seven
When the Trump Taj Mahal closes on October 10, only seven casinos will continue to be in Atlantic City. The city’s casinos all pay 1.25 percent of gross gaming revenues to finance the CRDA.
A series must be followed by the CRDA of regulations and licensing procedures, however the policies are most certainly not making it simple for Straub to create back Revel.
In the place of doing everything in its power to expedite the process, the CRDA appears to be centered on non-gaming entertainment.
At its meeting last week, the agency approved two measures that have nothing to do with the casino market.
The agency agreed to sponsor a 5th summer beach concert with real time Nation, and also consented to invest $150,000 in the Garden State movie Festival over the next two years.
‘ The CRDA continues its mission to attract events and visitors to the city,’ CRDA Executive Director John Palmieri stated in a press release.
Unfortunately, at least for now, the CRDA isn’t attracting a half of the investor that is billion-dollar Straub.
Mount Airy Casino Challenges Pennsylvania’s $10 Million Annual Host Tax
As soon as best-known due to the fact place to select crazy bathtubs that are adult-themed the Pennsylvania Pocono Mountains’ Mount Airy region has long discovered video gaming, and with it, a tax battle. (Image: usatoday.com)
For many people over 40, say ‘Mount Airy in the Poconos,’ and images of eight-foot-tall champagne bubble shower and tubs that are heart-shaped jump to mind. A couple of decades straight back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who desired some totally adult playtime.
But now, one casino in what is now called to as the Pocono Mountains is doing something decidedly unromantic: fighting for its own money.
Mount Airy Casino Resort is asking the Pennsylvania Supreme Court to annul state gambling legislation that requires gambling enterprises to spend ten dollars million yearly to its host town or town.
Senate Bill 862, signed and passed into law back in 2006, mandates that casinos pay two percent of gross slots revenue to the township in which they truly are located. The kicker is that the two percent must equal at minimum $10 million, otherwise the casino is regarding the hook to make up the difference.
But none of Pennsylvania’s twelve gambling enterprises even came close to grossing $500 million from slots a year ago, meaning all had to compose additional taxation checks.
Sheldon Adelson’s Sands Bethlehem is the casino that is largest, when it comes to pure revenue, in Pennsylvania. The Las Vegas Sands property generated $288.9 million in gross terminal revenue during the last fiscal year.
At two percent, Sands’ true tax payment was about $5.7 million. Meaning Adelson’s gaming company had been forced to pay the $4.3 million difference.
The difference was even more substantial for Mount Airy. The northeast Pennsylvania casino pulled in just $139.1 million in terminal income, meaning its two payment that is percent $2.78 million, with $7.22 million tacked on.