
The controversial 2016 Rio Summer Olympics are officially in the publications, but the recreations books in Nevada had little interest in their result. For the time that is first 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 and another medal that is bronze carried a flag through the closing ceremonies. But Nevada sports books had little to wave a flag about by the end of the day.
Action was slower than slow, according to those who just take wagers in Las Vegas’ biggest casinos. Perhaps a number of the lesser known events merely don’t jibe with the conventional American sports bettor. From badminton and canoe slalom, to rhythmic gymnastics and synchronized swimming, Vegas activities 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 period,’ Mirage oddsmaker Jay Rood said this thirty days.
The disappointing, yet not olympics that are totally unexpected Nevada casinos might lead to less enthusiasm for the 2018 Winter Olympics in Southern Korea as well. It ended up being no simple feat for oddsmakers to prepare 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, and 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 almost off the chart.
At Bovada, Phelps was a -300 favorite into the 100m butterfly, and his 4x200m freestyle relay team needed a $700 bet to win $100.
But it was fellow US swimmer Katie Ledecky who got the most respect in the pool with the freestyle that is 800m. Those looking to benefit off Ledecky’s dominance needed to wager a staggering $25,000 to win simply $100.
As crazy as that sounds, it 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 men and women also wowed bookies in Nevada. The men were -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. China put 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, criminal activity, and final 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 phase, with incidents of rape and robbery being reported in the first days that are few. But Lochte’s actions overshadowed much of the last 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 medal that is 12-time, 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 put on a games being great . . [but] my behavior that is immature tarnished a little, and I also don’t want that.’
His mea culpas may too have come late, nonetheless. 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 bad choices because of it. It’s unclear whether their other backers, including Gillette, Gatorade, and AT&T, can do the same.
The International Olympic Committee (IOC) will probably never be rushing right back up to a developing country anytime soon again, but nevertheless, left the united states 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 Drive for Legal Sport Betting
Assemblyman Gary Pretlow wants activities wagering for brand New York but admits you can find significant issues that are legal his way. (Image: Jefferson Siegel/New York Daily News)
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 activities in New York and sees no good reason to stop while he’s for a roll.
Pretlow told the Democrat Chronicle this week that, like New Jersey in recent years, he wanted to test federal opposition to sports wagering, and much more especially PASPA, the pro and Amateur Sports Protection Act 1992, which
‘I’m considering this present year putting in legislation similar to nj-new jersey’s legislation, and hopefully it gets to court into the Second Circuit, and hopefully we get a opinion that is different’ he said. ‘I am a believer in legalizing sports betting.’
Concern About ‘Vice Bills’
But first a legislative push would have to persuade both chambers that legal activities wagering could be the right thing for New York, at the same time as soon as the state is wary of passing more so-called ‘vice bills,’ following the legalization of casino gaming, MMA and now DFS. The question of legalizing sports wagering would additionally most likely require 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 appropriate dilemmas to consider before undertaking this endeavor.’
It’s difficult to see how nyc could succeed in the courts that are federal where New Jersey has failed at every turn. Earlier in the day this month, the usa Court of Appeals for the Third Circuit blocked nj-new jersey’s attempt to offer sports gambling at its casinos and racetracks once more, governing it would be considered a violation of PASPA.
PASPA ‘Not Fair’
‘It’s not reasonable that only one state is allowed to legitimately just take recreations wagers,’ Pretlow said, inaccurately.
While Nevada is the only state that offers full-scale recreations gambling, Oregon, Delaware and Montana are also lawfully allowed to take action, having being exempted by PASPA because they had already legalized prior to the passage regarding the bill in 1992. Delaware offers limited sports 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 % of Super Bowl viewers 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,’ stated AGA Chairman Geoff Freeman recently. ‘People in america spend a projected $150 billion a year betting on sports, just 3 percent from it legally.’
Glenn Straub Threatens to Abandon Revel Atlantic City
Revel Atlantic City owner Glenn Straub claims time is running out for local officials to approve 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 real estate millionaire had been once again before New Jersey’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 property to add a ropes and 13-floor cycling course.
The changes required new traffic-flow permits through the CRDA, however the governing organization claims it needs information that is additional. 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 manage the facility’s gaming.
The CRDA argues Straub’s company, Polo North Country Club Inc., hasn’t filed the appropriate documents.
‘I can’t think how much bureaucracy there is in this state. This is just what nj-new Jersey is famous for,’ Straub opined to reporters during a break. ‘This state stinks.’
Straub said he’s got ‘other activities to do’ then wait on New Jersey and Atlantic City officials.
Straub’s Bluff?
Straub seemed resolute in professing their willingness to abandon Revel in its entirety, but that would mean stopping on his $82 million investment he paid in 2015 to find the resort that is bankrupt. However, that’s chunk change compared to the $500 million Straub initially focused on the location that very first opened in 2012.
His plans of transforming 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 just a perfect destination 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 aiming for A october opening, but his patience is using thin.
‘ I don’t have enough time become screwing with this stuff,’ Straub declared. ‘This is 10 times even worse than exactly what it would be anyplace else.’
After Which There Were Seven
When the Trump Taj Mahal closes on October 10, only seven casinos will stay 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, nevertheless the policies are not making it possible for Straub to bring straight back Revel.
Rather than doing everything in its power to expedite the procedure, the CRDA seems to be dedicated to 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 summer that is fifth concert with Live Nation, and also consented to invest $150,000 on 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 release.
Unfortunately, at least for now, the CRDA isn’t attracting a half of the investor that is billion-dollar Straub.
Mount Airy Casino Challenges Pennsylvania’s $10 Million Annual Host Tax
Once best-known due to the fact place to opt for crazy bathtubs that are adult-themed the Pennsylvania Pocono Mountains’ Mount Airy area has very long discovered gaming, and along 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 heart-shaped tubs immediately 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’s now introduced to as the Pocono Mountains is doing something decidedly unromantic: fighting for its very 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’re located. The kicker is the fact that two percent must equal at least $10 million, otherwise the casino is regarding the hook to make up the distinction.
But none of Pennsylvania’s twelve casinos even came near to grossing $500 million from slots a year ago, meaning all had to write extra tax checks.
Sheldon Adelson’s Sands Bethlehem is the casino that is largest, 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’ true tax payment ended up being 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 just $139.1 million in terminal income, meaning its two percent payment ended up being $2.78 million, with $7.22 million tacked on.