
The controversial 2016 Rio Summer Olympics are officially in the publications, but the recreations books 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 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 bronze medal, carried a flag throughout the closing ceremonies. But Nevada sports books had little to wave a flag about at the conclusion of the time.
Action was slower than sluggish, according to those who simply take wagers in Las Vegas’ biggest gambling enterprises. Perhaps a number 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, Las Vegas sports books lined up the odds, but few took them.
‘We probably have 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 unforeseen Olympics for Nevada gambling enterprises might induce less enthusiasm for the 2018 Winter Olympics in South Korea as well. It ended up being no easy feat for oddsmakers to prepare lines on a host of athletic disciplines most had been utterly not really acquainted with.
Big Bets, Little Pay
Also the casual sports fan understands the name Michael Phelps, while the most 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 lines on Phelps were almost off the chart.
At Bovada, Phelps was a -300 favorite into 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 seeking to benefit off Ledecky’s dominance needed to wager a staggering $25,000 to win just $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 seconds.
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 all of the participants with 121 total gold, silver, and bronze. China put second with 70, and Great Britain third at 67.
Host country Brazil won 19 medals that are total and garnered plenty of criticism as well. Insufficient housing, contaminated water, criminal activity, and final but certainly 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 a lot of the final 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 entirely took over the last days of the Olympics.
‘I over-exaggerated that story,’ Lochte told NBC on the weekend. ‘They place on a games being great . . [but] my immature behavior tarnished that a little, and I don’t desire that.’
His mea culpas may have come too late, however. 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, will do the exact same.
The International Olympic Committee (IOC) will likely never be rushing straight back to a developing nation anytime soon again, but nevertheless, left the united states on a good note.
‘We arrived in Brazil as guests. We depart as your friends,’ IOC President Thomas Back said during the closing ceremony today.
New York Assemblyman Pretlow to Drive for Legal Sport Betting
Assemblyman Gary Pretlow wants recreations gambling for New York but admits you will 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 gambling to Nyc State. Pretlow was instrumental in orchestrating the regulation of day-to-day fantasy activities in New York and views no reason to stop while he’s for 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 betting, and much more particularly PASPA, the pro and Amateur Sports Protection Act 1992, which
‘I’m considering in 2010 putting in legislation much like nj-new jersey’s legislation, and hopefully it gets to court within the Second Circuit, and hopefully we obtain a different opinion,’ he said. ‘we am a believer in legalizing sports betting.’
Concern About ‘Vice Bills’
But first a legislative push would have to convince both chambers that appropriate recreations betting could be the right thing for New York, at a time once 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 also most likely need 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 start thinking about before undertaking this undertaking.’
It’s difficult to see how nyc could succeed in the courts that are federal where nj-new jersey has failed at every turn. Early in the day this month, the usa Court of Appeals for the Third Circuit blocked nj-new jersey’s try to provide sports betting at its casinos and racetracks once again, ruling it would be a breach of PASPA.
PASPA ‘Not Fair’
‘It’s not fair that only one state is allowed to lawfully just take activities bets,’ Pretlow said, inaccurately.
While Nevada is the state that is only offers full-scale sports wagering, Oregon, Delaware and Montana are also legally allowed to do this, having being exempted by PASPA because they had currently legalized before 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 United states Gaming Association, which advocates for the legalization and certification of sports betting, has said that 80 % of Super Bowl viewers are in support of regulation, while 65 percent trust regulated sports betting will either bolster the integrity of games or have no impact on game outcomes.
‘This law [PASPA] has failed miserably,’ stated AGA Chairman Geoff Freeman recently. ‘People in america spend a believed $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 says time is operating down for local officials to accept their casino and resort permits, otherwise he’s ready 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-new jersey’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 myfreepokies.com to incorporate a ropes and 13-floor cycling program.
The changes required new traffic-flow permits from the CRDA, but the governing organization states 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 center’s gaming.
The CRDA argues Straub’s business, Polo North nation Club Inc., hasn’t filed the appropriate paperwork.
‘I can’t believe 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 brand 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 giving up on his $82 million investment he paid in 2015 to find the bankrupt resort. However, that’s amount change set alongside the $500 million Straub initially focused on 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 place that is perfect 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 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 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 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 10, only seven casinos will remain in Atlantic City october. 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 bring straight back Revel.
In the place of doing everything in its power to expedite the procedure, the CRDA appears to be focused 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 fifth summer time beach concert with Live Nation, and also decided to invest $150,000 in 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 a billion-dollar investor in Straub.
Mount Airy Casino Challenges Pennsylvania’s $10 Million Annual Host Tax
When best-known since the place to go for crazy adult-themed bathtubs, the Pennsylvania Pocono Mountains’ Mount Airy area has long discovered 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 bath and tubs that are heart-shaped jump in your thoughts. A couple of decades straight back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who wanted some totally adult playtime.
But now, one casino in what exactly 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 a continuing state gambling legislation that requires casinos to pay 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 minimum ten dollars million, otherwise the casino is on the hook to make up the distinction.
But none of Pennsylvania’s twelve gambling enterprises also came near to grossing $500 million from slots a year ago, meaning all had to compose extra income tax checks.
Sheldon Adelson’s Sands Bethlehem is the casino that is largest, with regards to pure revenue, in Pennsylvania. During the last fiscal year, the Las vegas, nevada Sands home generated $288.9 million in gross terminal revenue.
At two percent, Sands’ true tax payment had been about $5.7 million. Meaning Adelson’s gaming company had been forced to pay the $4.3 million difference.
For Mount Airy, the difference had been also bigger. The northeast Pennsylvania casino pulled in simply $139.1 million in terminal income, meaning its two percent payment ended up being $2.78 million, with $7.22 million tacked on.