The controversial 2016 Rio Summer Olympics are officially in the publications, but the recreations publications in Nevada had little interest in their outcome. For the time that is first the Sydney Games in 2000, sports betting was permitted in the Silver State for this year’s 16 days of competition, but apparently, bettors were less than excited about their options.
American gymnast Simone Biles, who took home four gold and one bronze medal, carried a flag during the closing ceremonies. But Nevada sports books had little to wave a flag about by the end of the day.
Action was slower than sluggish, according to those who just take wagers in Las Vegas’ biggest gambling enterprises. Perhaps a number of the lesser known events simply don’t jibe with the normal American sports bettor. From badminton and canoe slalom, to rhythmic gymnastics and swimming that is synchronized 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 might on a big baseball game, regular season,’ Mirage oddsmaker Jay Rood said this month.
The disappointing, yet not completely unanticipated Olympics for Nevada gambling enterprises might lead to less enthusiasm for the 2018 Winter Olympics in Southern Korea as well. It was no feat that is easy oddsmakers to prepare lines on a host of athletic disciplines most had been utterly unfamiliar with.
Big Bets, Little Pay
Even the casual sports fan understands the name Michael Phelps, as well as the most decorated ever that is olympian up to their hype. Phelps won five associated with the six events he competed in and departed his olympics that are final a total of 23 silver medals.
And for bettors in the Silver State, the lines on Phelps were nearly off the chart.
At Bovada, Phelps was a -300 favorite in the butterfly that is 100m and his 4x200m freestyle relay group needed 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 sounds, it in fact 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 gents and ladies also wowed bookies in Nevada. The guys had been -2500 favorites and the women were listed at -1400. Both won their tournaments.
Overall, Team USA won the medal count that is highest of most participants with 121 total gold, silver, and bronze. China put second with 70, and Great Britain third at 67.
Host country Brazil won 19 total medals, and garnered plenty of criticism as well. Insufficient housing, contaminated water, criminal activity, and last but most certainly not least, Zika, all plagued the lead-up to the competition.
Lochte and Loaded
The games were definitely not without scandal before US swimmer Ryan Lochte took center stage, with incidents of rape and robbery being reported in the 1st days that are few. But Lochte’s actions overshadowed a lot of the final few days of the Games, in what athletes that are many have considered a cloud over their moment in the sun’s rays.
In what would later be a fable concocted by the 12-time medal champion, Lochte’s tale about being robbed at gunpoint almost entirely took over the pelican pete pokie final times of the Olympics.
‘I over-exaggerated that story,’ Lochte told NBC over the week-end. ‘They place on a great games. . . [but] my behavior that is immature tarnished a little, and I also don’t want that.’
Their mea culpas may too have come late, nonetheless. Speedo terminated its sponsorship on Monday, amid Lochte’s late-out-of-the-gate admission that he had way too much to drink that night and made bad choices because from it. It’s unclear whether his other backers, including Gillette, Gatorade, and AT&T, is going to do the same.
The International Olympic Committee (IOC) will probably not be rushing back to a developing country anytime soon again, but however, left the united states on a good note.
‘We found its way to Brazil as guests. Today we depart as your friends,’ IOC President Thomas Back said during the closing ceremony.
New York Assemblyman Pretlow to Push for Legal Sport Betting
Assemblyman Gary Pretlow wants activities gambling for New York but admits there are significant legal dilemmas in his way. (Image: Jefferson Siegel/New York Daily Information)
New York Assemblyman Gary Pretlow wants to create legal recreations gambling to Nyc State. Pretlow was instrumental in orchestrating the regulation of day-to-day fantasy recreations in New York and sees no good reason to quit while he’s for a roll.
Pretlow told the Democrat Chronicle this week that, like brand New Jersey in recent years, he desired to test federal opposition to sports betting, and more particularly PASPA, the expert and Amateur Sports Protection Act 1992, which
‘I’m considering this present year putting in legislation just like nj’s legislation, and hopefully it gets to court in the Second Circuit, and hopefully we obtain a opinion that is different’ he said. ‘I am a believer in legalizing activities gambling.’
Concern About ‘Vice Bills’
But first a push that is legislative have to convince both chambers that legal recreations gambling is the right thing for New York, at any given time as soon as the state is cautious with passing more so-called ‘vice bills,’ following a legalization of casino gaming, MMA now DFS. The question of legalizing sports wagering would also probably need an amendment to 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 start thinking about before undertaking this endeavor.’
It’s difficult to see how ny could succeed in the federal courts, where nj-new jersey has failed at every turn. Previously this month, the United States Court of Appeals for the Third Circuit blocked New Jersey’s attempt to provide sports gambling at its casinos and racetracks once more, ruling it would be a breach of PASPA.
PASPA ‘Not Fair’
‘It’s not reasonable that only one state is allowed to lawfully take activities wagers,’ Pretlow said, inaccurately.
While Nevada is the state that is only offers full-scale recreations gambling, Oregon, Delaware and Montana are also legitimately allowed to do so, having being exempted by PASPA because they had currently legalized prior to the passage for the bill in 1992. Delaware offers limited sports betting at its racetracks, while Oregon and Montana simply choose not to.
The United states Gaming Association, which advocates for the legalization and certification of sports betting, has said that 80 per cent of Super Bowl watchers are in support of regulation, while 65 percent believe regulated sports betting will either strengthen the integrity of games or have no impact on game outcomes.
‘This law [PASPA] has failed miserably,’ said AGA Chairman Geoff Freeman recently. ‘Americans spend an estimated $150 billion a betting on sports, only 3 % from it legally. year’
Glenn Straub Threatens to Abandon Revel Atlantic City
Revel Atlantic City owner Glenn Straub states time is running away for local officials to accept their hotel and casino 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 ways that are governing.
The Florida-based property millionaire ended up being once again before nj-new jersey’s Casino Reinvestment Development Authority (CRDA) last week. Straub is seeking a permit to operate the resort.
Straub has performed renovations regarding the $2.4 billion shuttered home to incorporate a ropes and cycling course that is 13-floor.
The changes needed brand new traffic-flow permits from the CRDA, however the governing organization states it requires information that is additional. The CRDA has also dragged its feet 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 paperwork that is appropriate.
‘I can’t believe exactly how much bureaucracy here is in this state. This is exactly what New Jersey is famous for,’ Straub opined to reporters during a break. ‘This state stinks.’
Straub stated he’s got ‘other activities to do’ then wait on brand New Jersey and Atlantic City officials.
Straub seemed resolute in professing their willingness to abandon Revel in its entirety, but that would mean giving up on his $82 million investment he paid in 2015 to acquire the bankrupt resort. However, that’s chunk change set alongside the $500 million Straub initially dedicated to the venue that very first opened in 2012.
His plans of transforming the resort into a ‘recreation-based facility along with casinos’ have hit one roadblock after another.
Just four months ago, Straub told Forbes, ‘Atlantic City is really a perfect place to put money. It’s going to increase 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 A october opening, but his patience is putting on thin.
‘ I do not have enough time become screwing with this stuff,’ Straub declared. ‘This is 10 times worse than just what it would be anyplace else.’
Then There Were Seven
When the Trump Taj Mahal closes on October 10, only seven gambling enterprises will continue to be in Atlantic City. The city’s casinos all pay 1.25 percent of gross gaming revenues to finance the CRDA.
The CRDA must follow a series of regulations and licensing procedures, however the policies are certainly not making it possible for Straub to create back Revel.
In the place of doing everything in its capacity to expedite the procedure, the CRDA appears to be centered on non-gaming activity.
The agency approved two measures that have nothing to do with the casino market at its meeting last week.
The agency agreed to sponsor a summer that is fifth concert with Live Nation, and additionally 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 said in a press launch.
Unfortunately, at least for now, the CRDA isn’t attracting a half of a billion-dollar investor in Straub.
Mount Airy Casino Challenges Pennsylvania’s $10 Million Annual Host Tax
Once best-known as the place to go with crazy adult-themed bathtubs, the Pennsylvania Pocono Mountains’ Mount Airy area has long found gaming, and along 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 heart-shaped tubs immediately jump in your thoughts. A few years straight back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who desired some playtime that is entirely adult.
But now, one casino in what’s now referred to as the Pocono Mountains is doing something distinctly unromantic: fighting for its own cash.
Mount Airy Casino Resort is asking the Pennsylvania Supreme Court to annul a continuing state gambling regulation that calls for gambling enterprises to spend $10 million annually 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 are located. The kicker is that the two percent must equal at least ten dollars million, otherwise the casino is in the hook to make the difference up.
But none of Pennsylvania’s twelve gambling enterprises also came close to grossing $500 million from slots last year, meaning all had to write extra tax checks.
Sheldon Adelson’s Sands Bethlehem is the largest casino, with regards to pure revenue, in Pennsylvania. During the last fiscal year, the Las Vegas Sands home produced $288.9 million in gross terminal revenue.
At two percent, Sands’ true tax payment had been about $5.7 million. Meaning Adelson’s gaming business 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 simply $139.1 million in terminal income, meaning its two payment that is percent $2.78 million, with $7.22 million tacked on.