
The controversial 2016 Rio Summer Olympics are officially in the publications, but the activities publications 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 with play pelican pete pokies 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 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 day.
Action was slower than slow, according to those who take wagers in Las Vegas’ biggest gambling enterprises. Perhaps a few of the lesser known events just don’t jibe with the typical sports that are american. 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 actually 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 gambling enterprises might result in less enthusiasm for the 2018 Winter Olympics in Southern Korea because well. It had been no easy feat for oddsmakers to organize lines for a host of athletic disciplines most were utterly new to.
Big Bets, Little Pay
Even the casual sports fan knows the name Michael Phelps, while the most decorated Olympian ever lived 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 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 butterfly that is 100m and his 4x200m freestyle relay group required 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 trying to profit 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 bet that is good 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 men had been -2500 favorites and the women had been 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. 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, criminal activity, and last but 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 stage, 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 athletes that are many have considered a cloud over their moment in the sunlight.
In what would later be a fable concocted by the 12-time medal winner, Lochte’s tale about being robbed at gunpoint almost totally took over the final times of the Olympics.
‘I over-exaggerated that story,’ Lochte told NBC within the week-end. ‘They place on a great games. . . [but] my immature behavior tarnished that a little, and I don’t desire that.’
Their mea culpas may too have come late, nonetheless. 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 making decisions that are bad of it. It’s unclear whether his other backers, including Gillette, Gatorade, and AT&T, does the same.
The International Olympic Committee (IOC) will likely not be rushing straight back up to a developing country anytime soon again, but however, left the country on a good note.
‘We arrived in 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 activities wagering for brand New York but admits you can find significant legal dilemmas in his way. (Image: Jefferson Siegel/New York Daily News)
New York Assemblyman Gary Pretlow wants to create legal recreations wagering to Nyc State. Pretlow was instrumental in orchestrating the regulation of daily fantasy recreations in New York and sees 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 wanted to test opposition that is federal sports wagering, and more especially PASPA, the expert and recreational Sports Protection Act 1992, which
‘I’m considering in 2010 putting in legislation similar to 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 recreations betting.’
Concern About ‘Vice Bills’
But first a legislative push would have to persuade both chambers that legal sports wagering could be the right thing for New York, at the same time when the state is cautious about passing more so-called ‘vice bills,’ after the legalization of casino gaming, MMA now DFS. The question of legalizing sports gambling would additionally probably require an amendment towards the state constitution by public referendum.
‘ Any conversation of legalizing sports betting in NY is premature at this point,’ Pretlow conceded. ‘There are significant legal issues to start thinking about 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 United States Court of Appeals for the Third Circuit blocked nj’s attempt to offer sports gambling at its casinos and racetracks once more, ruling it would be described as a violation of PASPA.
PASPA ‘Not Fair’
‘It’s not fair that only one state is allowed to lawfully simply take sports bets,’ Pretlow said, inaccurately.
While Nevada is the only state that offers full-scale activities betting, Oregon, Delaware and Montana are also lawfully permitted to do this, having being exempted by PASPA because they had currently legalized prior to the passage associated with the bill in 1992. Delaware offers restricted activities betting at its racetracks, while Oregon and Montana simply choose not to ever.
The American Gaming Association, which advocates for the legalization and licensing of sports betting, has said that 80 percent of Super Bowl people are in favor of 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. ‘People in america spend a predicted $150 billion a betting on sports, only 3 % from it legally. year’
Glenn Straub Threatens to Abandon Revel Atlantic City
Revel Atlantic City owner Glenn Straub states time is running out for local officials to approve 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 his resurrection plans for Revel Atlantic City unless local officials in New Jersey change their governing ways.
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 operate the resort.
Straub has performed renovations on the $2.4 billion shuttered property to add a ropes and cycling course that is 13-floor.
The changes required new traffic-flow permits through the CRDA, nevertheless the governing organization states it needs more 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 control the center’s gaming.
The CRDA argues Straub’s company, Polo North Country Club Inc., hasn’t filed the appropriate documents.
‘I can’t believe how much bureaucracy there is in this state. This is exactly what New Jersey is famous for,’ Straub opined to reporters during a break. ‘This state stinks.’
Straub said he’s got ‘other things you can 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 resort that is bankrupt. However, that’s amount change compared to the $500 million Straub initially devoted to the venue 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 destination to place money. It’s going to increase 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 facility that is hotel-only the recreational activities, unattained permits have kept the lights dark at Revel.
Straub is now aiming for an opening, but his patience is wearing thin october.
‘ I do not have enough time to be screwing with this stuff,’ Straub declared. ‘This is 10 times even 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 continue to be 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 not making it easy for Straub to bring right back Revel.
As opposed to doing everything in its power to expedite the process, the CRDA appears to be dedicated to non-gaming entertainment.
At its meeting last week, the agency approved two measures that have nothing to do utilizing the casino market.
The agency agreed to sponsor a summer that is fifth concert with real time 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 city,’ CRDA Executive Director John Palmieri stated in a press launch.
Unfortunately, at least for now, the CRDA isn’t attracting a half of a investor that is billion-dollar Straub.
Mount Airy Casino Challenges Pennsylvania’s $10 Million Annual Host Tax
As soon as best-known whilst the place to go with crazy adult-themed bathtubs, the Pennsylvania Pocono Mountains’ Mount Airy area 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 shower and heart-shaped tubs immediately jump to mind. Several decades back, the working-class resort area marketed the decidedly unique and memorable tubs to couples who desired some completely adult playtime.
But now, one casino in what’s now called 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 state gambling legislation that calls for gambling enterprises to spend ten dollars million yearly to its host city 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 truly are located. The kicker is the fact that two percent must equal at minimum $10 million, otherwise the casino is regarding the hook to make up the difference.
But none of Pennsylvania’s twelve casinos also came near to grossing $500 million from slots year that is last meaning all had to compose extra taxation checks.
Sheldon Adelson’s Sands Bethlehem is the largest casino, with regards to pure revenue, in Pennsylvania. During the final fiscal year, the vegas Sands property produced $288.9 million in gross terminal revenue.
At two percent, Sands’ true tax payment had been about $5.7 million. Meaning Adelson’s gaming business was 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 payment that is percent $2.78 million, with $7.22 million tacked on.
