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

2016 Ri<span id="more-6890"></span>o 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 for this year’s 16 days of competition, but evidently, bettors were less than excited about their options.

American gymnast Simone Biles, who took home four gold and one bronze medal, carried a flag through the closing ceremonies. But play pelican pete slot machine free Nevada sports books had little to wave a flag about by the end of the time.

Action was slower than sluggish, according to those who just take wagers in vegas’ biggest casinos. Perhaps some of the lesser known events just did not jibe with the typical American sports bettor. From badminton and canoe slalom, to rhythmic gymnastics and synchronized swimming, Vegas recreations books lined up the odds, but few took them.

‘We probably have taken about as much in Olympic wagers as we might on a baseball that is big, regular season,’ Mirage oddsmaker Jay Rood stated this thirty days.

The disappointing, yet not totally unforeseen Olympics for Nevada gambling enterprises might induce less passion for the 2018 Winter Olympics in Southern Korea because well. It ended up being no effortless feat for oddsmakers to prepare lines for a host of athletic disciplines most were utterly new to.

Big Bets, Little Pay

Also the casual sports fan understands the name Michael Phelps, plus the most decorated Olympian ever lived up to his hype. Phelps won five of this 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 lines on Phelps were almost off the chart.

At Bovada, Phelps had been a -300 favorite in the 100m butterfly, and his 4x200m freestyle relay team needed a $700 bet to win $100.

Nonetheless 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 good bet, as Ledecky cruised to a world-record time and beat the silver medalist by almost 12 moments.

Team USA basketball people also wowed bookies in Nevada. The guys had been -2500 favorites and the ladies 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. Asia placed second with 70, and Great Britain third at 67.

Host nation Brazil won 19 medals that are total and garnered plenty of criticism as well. Inadequate housing, contaminated water, criminal activity, and final but not least, Zika, all plagued the lead-up to the competition.

Lochte and Loaded

The games were certainly not without scandal before US swimmer Ryan Lochte took center stage, with incidents of rape and robbery being reported in the first few days alone. But Lochte’s actions overshadowed much of the last few days of the Games, in what athletes that are many have considered a cloud over their moment in the sunlight.

In what would later on be a fable concocted by the 12-time medal champion, Lochte’s tale about being robbed at gunpoint almost completely took over the final times of the Olympics.

‘I over-exaggerated that story,’ Lochte told NBC within the weekend. ‘They place on a great games. . . [but] my immature behavior tarnished that a little, and I also don’t desire that.’

Their mea culpas might have come too late, nevertheless. Speedo terminated its sponsorship on Monday, amid Lochte’s late-out-of-the-gate admission which he had way too much to drink that night making decisions that are bad of it. It’s unclear whether their other backers, including Gillette, Gatorade, and AT&T, will do the same.

The International Olympic Committee (IOC) will probably not be rushing straight back to a developing country anytime soon again, but however, left the nation on a positive 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 recreations wagering for New York but admits there are significant legal dilemmas in his way. (Image: Jefferson Siegel/New York Daily News)

New York Assemblyman Gary Pretlow wants to bring sports that are legal to Ny State. Pretlow was instrumental in orchestrating the regulation of daily dream activities in New York and views no reason to quit while he’s on a roll.

Pretlow told the Democrat Chronicle this week that, like New Jersey in recent years, he wished to test federal opposition to sports betting, and much more specifically PASPA, the pro and recreational Sports Protection Act 1992, which

‘I’m considering in 2010 putting in legislation just like nj-new jersey’s legislation, and hopefully it gets to court into 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 persuade both chambers that legal recreations betting could be the right thing for New York, at a time when the state is wary of passing more alleged ‘vice bills,’ following the legalization of casino gaming, MMA and now DFS. The question of legalizing sports gambling would additionally probably require an amendment to the 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 consider before undertaking this endeavor.’

It’s difficult to see how nyc could succeed in the federal courts, where nj-new jersey has failed at every turn. Early in the day this month, the United States Court of Appeals for the Third Circuit blocked nj’s attempt to provide sports wagering at its casinos and racetracks again, ruling so it would be considered a breach of PASPA.

PASPA ‘Not Fair’

‘It’s not fair that only one state is permitted to lawfully just take sports bets,’ Pretlow said, inaccurately.

While Nevada is the state that is only offers full-scale activities betting, Oregon, Delaware and Montana are also lawfully allowed to do this, 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.

The United states Gaming Association, which advocates for the legalization and licensing of sports betting, has said that 80 per cent of Super Bowl audiences are and only regulation, while 65 believe that is percent sports betting will either fortify the integrity of games or have no impact on game outcomes.

‘This law [PASPA] has failed miserably,’ stated AGA Chairman Geoff Freeman recently. ‘Americans spend a projected $150 billion a year wagering on sports, only 3 percent of it legally.’

Glenn Straub Threatens to Abandon Revel Atlantic City

Revel Atlantic City owner Glenn Straub claims time is running down 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 ways that are governing.

The Florida-based real-estate millionaire was once again before nj’s Casino Reinvestment Development Authority (CRDA) last week. Straub is seeking a permit to use the resort.

Straub has performed renovations on the $2.4 billion shuttered property to include a ropes and 13-floor cycling program.

The changes needed new traffic-flow permits through the CRDA, but the governing organization says it requires additional information. The CRDA has also dragged its feet in approving a casino permit for Revel, despite the fact that Straub has hired a gambling operator to manage the facility’s gaming.

The CRDA argues Straub’s company, Polo North Country Club Inc., hasn’t filed the paperwork that is appropriate.

‘I can’t believe how much bureaucracy there is in this state. This is exactly what New Jersey is well known for,’ Straub opined to reporters during a break. ‘This state stinks.’

Straub stated he’s got ‘other activities to 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 get the bankrupt resort. However, that’s chunk change set alongside the $500 million Straub initially committed to the location that very first opened in 2012.

His plans of transforming 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 really a perfect spot to place money. It’s going to multiply 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 month by announcing the closure of his Trump Taj Mahal.

Originally scheduled to start 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 time to be screwing with this stuff,’ Straub declared. ‘This is 10 times even worse than what it would be anyplace else.’

After Which 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, nevertheless the policies are certainly not making it easy for Straub to bring right back Revel.

As opposed to doing everything in its capacity to expedite the procedure, the CRDA appears to be centered on non-gaming activity.

At its meeting last week, the agency approved two measures that have absolutely nothing to do with all the casino market.

The agency agreed to sponsor a 5th summer beach concert with Live Nation, and also agreed to invest $150,000 regarding the Garden State movie Festival over the next two years.

‘ The CRDA continues its mission to attract events and visitors to the populous city,’ CRDA Executive Director John Palmieri stated in a press launch.

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 as the place to opt for crazy bathtubs that are adult-themed the Pennsylvania Pocono Mountains’ Mount Airy region has long discovered gaming, and with it, a tax fight. (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 in your thoughts. A couple of decades right back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who wanted some completely adult playtime.

But now, one casino in what is now referred to as the Pocono Mountains is doing something decidedly unromantic: fighting for its very own cash.

Mount Airy Casino Resort is asking the Pennsylvania Supreme Court to annul state gambling regulation that requires casinos to spend ten dollars million yearly 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 regarding the hook to make the difference up.

But none of Pennsylvania’s twelve gambling enterprises also came close to grossing $500 million from slots year that is last 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 business was forced to pay the $4.3 million difference.

For Mount Airy, the huge difference had been also larger. The northeast Pennsylvania casino pulled in just $139.1 million in terminal income, meaning its two percent payment was $2.78 million, with $7.22 million tacked on.

Leave a Reply

You must be logged in to post a comment.