2016 Rio Summer Olympics Wrap Up, Nevada Sports Betting Doesn’t Medal

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2016 Ri<span id="more-13255"></span>o Summer Olympics Wrap Up, Nevada Sports Betting Doesn’t Medal

The controversial 2016 Rio Summer Olympics are officially in the publications, but the sports books in Nevada had little interest in 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 apparently, bettors were less than excited about their options.

Us gymnast Simone Biles, who took home four gold and 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 simply take wagers in Las vegas, nevada’ biggest gambling enterprises. Perhaps a few of the lesser known events merely did not jibe with the conventional American sports bettor. From badminton and canoe slalom, to rhythmic gymnastics and swimming that is synchronized Vegas activities 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 baseball that is big, regular season,’ Mirage oddsmaker Jay Rood said this thirty days.

The disappointing, yet not totally unforeseen Olympics for Nevada casinos might lead to less passion for the 2018 Winter Olympics in Southern Korea because well. It had been no feat that is easy oddsmakers to get ready 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, as well as the many decorated ever that is olympian up to their 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 relative lines on Phelps were almost off the chart.

At Bovada, Phelps had been a -300 favorite into the butterfly that is 100m and his 4x200m freestyle relay group 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 seeking to profit off Ledecky’s dominance needed to wager a staggering $25,000 to win just $100.

As crazy as that noises, it was a bet that is good as Ledecky cruised to a world-record time and beat the silver medalist by almost 12 moments.

Team USA basketball gents and ladies also wowed bookies in Nevada. The guys were -2500 favorites and the ladies had been listed at -1400. Both won their tournaments.

Overall, Team USA won the highest medal count of all of the participants with 121 total gold, silver, and bronze. Asia put second with 70, and Great Britain third at 67.

Host country Brazil won 19 total medals, and garnered plenty of criticism as well. Insufficient 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 had been 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 final few days of the Games, in what athletes that are many have considered a cloud over their moment in the sun.

In what would later be a fable concocted by the medal that is 12-time, Lochte’s tale about being robbed at gunpoint almost totally took over the last days of the Olympics.

‘I over-exaggerated that story,’ Lochte told NBC over the week-end. ‘They put on a games which are great . . [but] my behavior that is immature tarnished a little, and I don’t want that.’

His mea culpas could 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, is going to do the exact same.

The International Olympic Committee (IOC) will more than likely never be rushing straight back to a developing country anytime soon again, but nonetheless, left the united states on a positive 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 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 create sports that are legal to New York State. Pretlow was instrumental in orchestrating the regulation of day-to-day fantasy recreations 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 brand New Jersey in recent years, he wished to test opposition that is federal sports betting, and much more especially PASPA, the pro and Amateur Sports Protection Act 1992, which

‘I’m considering this present year putting in legislation just like New Jersey’s legislation, and hopefully it gets to court into the Second Circuit, and hopefully we get yourself a different opinion,’ he said. ‘we am a believer in legalizing activities betting.’

Concern About ‘Vice Bills’

But first a legislative push would have to convince both chambers that appropriate sports gambling could be the right thing for New York, at a time whenever state is cautious with passing more alleged ‘vice bills,’ following legalization of casino gaming, MMA and now DFS. The question of legalizing sports wagering would additionally most likely need an amendment towards the state constitution by public referendum.

‘ Any conversation of legalizing sports betting in NY is premature as of this point,’ Pretlow conceded. ‘There are significant issues that are legal consider before undertaking this endeavor.’

It’s difficult to see how ny could succeed in the federal courts, where nj has failed at every turn. Earlier in the day this the United States Court of Appeals for the Third Circuit blocked New Jersey’s attempt to offer sports betting at its casinos and racetracks once again, ruling that it would be a violation of PASPA month.

PASPA ‘Not Fair’

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

While Nevada is the only state that offers full-scale sports betting, Oregon, Delaware and Montana are also legally allowed to do this, having being exempted by PASPA because they had already legalized ahead of the passage associated with the bill in 1992. Delaware offers sports that are limited 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 people are in favor of regulation, while 65 percent trust regulated 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. ‘People in america spend an estimated $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 states time is operating out for local officials to accept his 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 ended up being once again before nj-new jersey’s Casino Reinvestment Development Authority (CRDA) last week. Straub is looking for a permit to work the resort.

Straub has performed renovations in the $2.4 billion shuttered home to incorporate a ropes and 13-floor cycling course.

The changes required brand new traffic-flow allows through 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 center’s gaming.

The CRDA argues Straub’s business, Polo North nation Club Inc., hasn’t filed the appropriate paperwork.

‘I can’t think how much bureaucracy there is in this state. This is just what nj-new Jersey is known for,’ Straub opined to reporters during a break. ‘This state stinks.’

Straub stated he’s got ‘other things 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 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 really 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 aiming for A october opening, but his patience is using thin.

‘ I do not have 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 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, however the policies are certainly not making it possible for Straub to bring straight back Revel.

As opposed to doing everything in its power to expedite the process, the CRDA seems to be centered 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 summer that is fifth concert with real time Nation, and additionally decided to spend $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 city,’ CRDA Executive Director John Palmieri stated in a press launch.

Unfortunately, pelican pete slot wins 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

As soon as best-known while the place to go for crazy bathtubs that are adult-themed the Pennsylvania Pocono Mountains’ Mount Airy region has long discovered video 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 shower 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 playtime that is entirely adult.

But now, one casino in what’s now referred 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 state gambling regulation that requires gambling enterprises to spend ten dollars million yearly to its host town 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 in which they truly are located. The kicker is that the two percent must equal at minimum $10 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 write additional income tax checks.

Sheldon Adelson’s Sands Bethlehem is the casino that is largest, when it comes to pure revenue, in Pennsylvania. During the last fiscal year, the Las Vegas Sands home created $288.9 million in gross terminal revenue.

At two percent, Sands’ real tax payment had been about $5.7 million. Meaning Adelson’s gaming company was forced to pay the $4.3 million difference.

For Mount Airy, the huge difference had been even more substantial. 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.

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