The controversial 2016 Rio Summer Olympics are officially in the books, but the activities publications in Nevada had interest that is little their result. For the first time since 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.
Us gymnast Simone Biles, who took home four gold plus one bronze medal, carried a flag during the closing ceremonies. But Nevada sports books had little to wave a flag about at the end of the time.
Action was slower than sluggish, according to those who just take wagers in nevada’ biggest gambling enterprises. Perhaps some 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 Vegas recreations books lined up the odds, but few took them.
‘We probably 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 South Korea as well. It had been no simple feat for oddsmakers to organize lines for a host of athletic disciplines most were utterly not really acquainted with.
Big Bets, Little Pay
Even the casual sports fan knows the name Michael Phelps, while the most decorated ever that is olympian up to their hype. Phelps won five of this 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 had been a -300 favorite within the butterfly that is 100m and his 4x200m freestyle relay group 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 looking 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 people 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 placed second with 70, and Great Britain 3rd at 67.
Host country Brazil won 19 medals that are total and garnered plenty of criticism as well. Inadequate housing, contaminated water, crime, and last but not least, Zika, all plagued the lead-up to the competition.
Lochte and Loaded
The games had been certainly not without scandal before US swimmer Ryan Lochte took center phase, with incidents of rape and robbery being reported in the 1st 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’s rays.
In what would later on be a fable concocted by the 12-time medal champion, Lochte’s tale about being robbed at gunpoint almost entirely took over the last times of the Olympics.
‘I over-exaggerated that story,’ Lochte told NBC within the weekend. ‘They place on a games that are great . . [but] my behavior that is immature tarnished a little, and I don’t desire that.’
Their mea culpas may have come too late, but. Speedo terminated its sponsorship on Monday, amid Lochte’s late-out-of-the-gate admission he had way too much to drink that night and made decisions that are bad from it. It’s unclear whether his other backers, including Gillette, Gatorade, and AT&T, is going to do the exact same.
The International Olympic Committee (IOC) will probably never be rushing straight back to a developing nation anytime soon again, but nevertheless, left the country on a note that is positive.
‘We found its way to Brazil as guests. We depart as your friends,’ IOC President Thomas Back said during the closing ceremony today.
New York Assemblyman Pretlow to Push for Legal Sport Betting
Assemblyman Gary Pretlow wants recreations betting for New York but admits there are significant issues that are legal his way. (Image: Jefferson Siegel/New York Daily Information)
New York Assemblyman Gary Pretlow wants to bring legal sports betting to Nyc State. Pretlow was instrumental in orchestrating the regulation of daily fantasy sports in New York and sees no good reason to give up while he’s on a roll.
Pretlow told the Democrat Chronicle this week that, like New Jersey in recent years, he desired to test federal opposition to sports wagering, and much more particularly PASPA, the pro and recreational Sports Protection Act 1992, which
‘I’m considering this present year putting in legislation much like nj-new jersey’s legislation, and hopefully it gets to court in the Second Circuit, and hopefully we get yourself a different opinion,’ he said. ‘I am a believer in legalizing sports gambling.’
Concern About ‘Vice Bills’
But first a push that is legislative have to convince both chambers that appropriate activities betting is the right thing for New York, at any given time whenever state is wary of passing more so-called ‘vice bills,’ following legalization of casino gaming, MMA now DFS. The question of legalizing sports gambling would additionally 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 legal dilemmas to think about before undertaking this undertaking.’
It’s difficult to see how ny could succeed in the courts that are federal where New Jersey has failed at every turn. Earlier in the day this month, the United States Court of Appeals for the Third Circuit blocked nj’s try to offer sports wagering at its casinos and racetracks again, governing that it would be described as a violation of PASPA.
PASPA ‘Not Fair’
‘It’s not fair that only one state is allowed to legally take recreations wagers,’ Pretlow said, inaccurately.
While Nevada is the only state that offers full-scale sports betting, Oregon, Delaware and Montana are also lawfully permitted to do so, having being exempted by PASPA because they had already legalized ahead of the passage of the bill in 1992. Delaware offers sports that are limited at its racetracks, while Oregon and Montana simply choose not to ever.
The American Gaming Association, which advocates for the legalization and certification of sports betting, has said that 80 percent of Super Bowl audiences are in support of regulation, while 65 percent trust 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. ‘People in america spend an estimated $150 billion a betting on sports, only 3 per cent of it legally. year’
Glenn Straub Threatens to Abandon Revel Atlantic City
Revel Atlantic City owner Glenn Straub claims time is operating out for local officials to accept their hotel and casino permits, otherwise he’s prepared to abandon ship. (Image: Jacqueline Urgo/Philadelphia Inquirer)
Developer Glenn Straub says he’s considering abandoning their resurrection plans for Revel Atlantic City unless local officials in New Jersey change their governing ways.
The Florida-based property millionaire ended up being once again before nj’s Casino Reinvestment Development Authority (CRDA) last week. Straub is seeking a permit to work the resort.
Straub has performed renovations on the $2.4 billion shuttered home to include a ropes and cycling course that is 13-floor.
The changes needed brand new traffic-flow allows from the CRDA, but the governing organization states it needs 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 control the facility’s gaming.
The CRDA argues Straub’s business, Polo North nation Club Inc., hasn’t filed the appropriate documents.
‘I can’t think just how much bureaucracy there 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 activities to do’ then wait on brand New Jersey and Atlantic City officials.
Straub seemed resolute in professing his willingness to abandon Revel in its entirety, but that would mean stopping on his $82 million investment he paid in 2015 to acquire the resort that is bankrupt. However, that’s chunk change set alongside the $500 million Straub initially devoted to the venue that first opened in 2012.
His plans of converting the resort into a ‘recreation-based facility along with casinos’ have struck one roadblock after another.
Just four months ago, Straub told Forbes, ‘Atlantic City is really a place that is perfect place money. It’s going to increase ten times what it’s now worth.’
Straub and billionaire Carl Icahn both pledged to revitalize the gaming beach town. Icahn changed his mind this by announcing the closure of his Trump Taj Mahal month.
Originally scheduled to open on June 15 as a facility that is hotel-only 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 do not have enough time to be screwing with this stuff,’ Straub declared. ‘This is 10 times worse than what it would be anyplace else.’
Then There Were Seven
When the Trump Taj Mahal closes on 10, only seven casinos will remain in Atlantic City october. The city’s casinos all pay 1.25 percent of gross gaming revenues to fund the CRDA.
The CRDA must follow a series of regulations and licensing procedures, however the policies are not making it easy for Straub to bring straight back Revel.
As opposed to doing everything in its power to expedite the process, the CRDA seems to be focused on non-gaming entertainment.
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 fifth summer time beach concert with Live Nation, and also decided to spend $150,000 on the Garden State Film 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 billion-dollar investor in Straub.
Mount Airy Casino Challenges Pennsylvania’s $10 Million Annual Host Tax
When best-known whilst the place to go after crazy adult-themed bathtubs, the Pennsylvania Pocono Mountains’ Mount Airy area has very long found video gaming, and along with it, a tax battle. (Image: usatoday.com)
For many folks over 40, say ‘Mount Airy in the Poconos,’ and images of eight-foot-tall champagne bubble bath and tubs that are heart-shaped jump to mind. A couple of years straight back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who desired some entirely adult playtime.
But now, one casino in what exactly is now introduced to as the Pocono Mountains is doing something distinctly unromantic: fighting for its own money.
Mount Airy Casino Resort is asking the Pennsylvania Supreme Court to annul a continuing state gambling regulation that requires casinos to spend $10 million annually to its host town or town.
Senate Bill 862, passed and signed 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 $10 million, otherwise the casino is on the hook to make the difference up.
But none of Pennsylvania’s twelve gambling enterprises even came near to grossing $500 million from slots year that is last meaning all had to compose extra taxation checks.
Sheldon Adelson’s Sands Bethlehem is the biggest casino, in terms of 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’ real tax payment had been 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 simply $139.1 million in terminal income, meaning its two percent payment was $2.78 million, with $7.22 million tacked on.