
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 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 something bronze medal, carried a flag during the closing ceremonies. But Nevada sports books had little to wave a flag about at the conclusion of the day.
Action was slower than slow, according to those who simply take wagers in nevada’ biggest gambling enterprises. Perhaps a number of the lesser known events simply didn’t jibe with the normal 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’d on a big baseball game, regular season,’ Mirage oddsmaker Jay Rood stated this month.
The disappointing, yet not completely unanticipated Olympics for Nevada casinos might cause less enthusiasm for the 2018 Winter Olympics in South Korea as well. It was no simple feat for oddsmakers to get ready lines for a host of athletic disciplines most were utterly new to.
Big Bets, Little Pay
Also the casual sports fan knows the name Michael Phelps, therefore the most decorated Olympian ever lived up to his hype. Phelps won five associated with 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 within the 100m butterfly, and his 4x200m freestyle relay group required 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 trying to benefit off Ledecky’s dominance needed to wager a staggering $25,000 to win just $100.
As crazy as that noises, it in fact was a good bet, as Ledecky cruised to a world-record time and beat the silver medalist by nearly 12 seconds.
Team USA basketball men and women also wowed bookies in Nevada. The men had been -2500 favorites and the ladies were 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. China placed 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. Inadequate housing, contaminated water, crime, and final but most certainly 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 phase, with incidents of rape and robbery being reported in the 1st few days alone. But Lochte’s actions overshadowed much of the final few days of the Games, in what many 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 winner, Lochte’s tale about being robbed at gunpoint almost completely 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 want that.’
His mea culpas may too have come 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 making bad choices because of it. It’s unclear whether their other backers, including Gillette, Gatorade, and AT&T, is going to do the same.
The International Olympic Committee (IOC) will probably never be rushing back up to a developing nation anytime soon again, but however, left the country on a note that is positive.
‘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 betting for New York but admits you can find significant issues that are legal his way. (Image: Jefferson Siegel/New York Daily Information)
New York Assemblyman Gary Pretlow wants to bring sports that are legal to Nyc State. Pretlow was instrumental in orchestrating the regulation of day-to-day dream recreations in New York and sees no good 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 wagering, and more specifically PASPA, the Professional and recreational Sports Protection Act 1992, which
‘I’m considering this season putting in legislation much like nj’s legislation, and hopefully it gets to court within the Second Circuit, and hopefully we get 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 is the right thing for New York, at any given time as soon as the state is cautious about passing more alleged ‘vice bills,’ after the legalization of casino gaming, MMA now DFS. The question of legalizing sports gambling would also probably need 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 New York could succeed in the federal courts, where New Jersey has failed at every turn. Previously this month, the usa Court of Appeals for the Third Circuit blocked nj-new jersey’s make an effort to provide sports betting at its casinos and racetracks yet again, ruling it would be considered a breach of PASPA.
PASPA ‘Not Fair’
‘It’s not fair that only one state is allowed to legally simply take activities wagers,’ Pretlow said, inaccurately.
While Nevada is the only state that offers full-scale activities betting, Oregon, Delaware and Montana are also legally allowed to do this, having being exempted by PASPA because they had currently legalized ahead of the passage associated with the bill in 1992. Delaware offers limited activities betting 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 percent of Super Bowl audiences are and only regulation, while 65 percent believe regulated sports betting will either fortify 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 approximated $150 billion a betting on sports, only 3 per cent from it legally. year’
Glenn Straub Threatens to Abandon Revel Atlantic City
Revel Atlantic City owner Glenn Straub claims time is running away for local officials to approve their casino and hotel 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 real estate millionaire ended up being once again before nj’s Casino Reinvestment Development Authority (CRDA) last week. Straub is looking for a permit to operate the resort.
Straub has performed renovations on the $2.4 billion shuttered home to incorporate 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 requires more information. The CRDA has also dragged its legs in approving a casino permit for Revel, despite the fact that Straub has hired a gambling operator to control the center’s gaming.
The CRDA argues Straub’s company, Polo North nation Club Inc., hasn’t filed the paperwork that is appropriate.
‘I can’t believe just how much bureaucracy there is in this state. This is exactly what New Jersey is known for,’ Straub opined to reporters during a break. ‘This state stinks.’
Straub stated 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 stopping on his $82 million investment he paid in 2015 to get the resort that is bankrupt. However, that’s chunk change compared to the $500 million Straub initially devoted to the venue that first opened in 2012.
His plans of transforming the resort into a ‘recreation-based center along with casinos’ have hit one roadblock after another.
Just four months ago, Straub told Forbes, ‘Atlantic City is a place that is perfect place 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 start 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 time become screwing with this stuff,’ Straub declared. ‘This is 10 times even worse than exactly 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 fund the CRDA.
A series must be followed by the CRDA of regulations and licensing procedures, however the policies are definitely not making it easy myfreepokies.com for Straub to bring right back Revel.
In the place of doing everything in its capacity to expedite the procedure, the CRDA seems to be focused on non-gaming activity.
At its meeting a week ago, the agency approved two measures that have absolutely nothing to do aided by the casino market.
The agency agreed to sponsor a summer that is fifth concert with real time Nation, and additionally agreed to spend $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 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
When best-known since the place to select crazy adult-themed bathtubs, the Pennsylvania Pocono Mountains’ Mount Airy region has long found gaming, and with it, a tax fight. (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 to mind. A couple of decades right back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who wanted some entirely adult playtime.
But now, one casino in what 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 yearly to its host city 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 by which they are located. The kicker is the fact that two percent must equal at least $10 million, otherwise the casino is on the hook to make up the distinction.
But none of Pennsylvania’s twelve casinos even came near to grossing $500 million from slots this past year, meaning all had to compose extra tax checks.
Sheldon Adelson’s Sands Bethlehem is the biggest casino, with regards 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’ real tax payment ended up being about $5.7 million. Meaning Adelson’s gaming business ended up being forced to pay the $4.3 million difference.
For Mount Airy, the difference ended up being even bigger. 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.
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