ï»¿2016 Rio Summer Olympics Summary, Nevada Sports Betting Doesn’t Medal
The controversial 2016 Rio Summer Olympics are officially in the books, but the recreations publications in Nevada had interest that is little their outcome. 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 throughout the closing ceremonies. But Nevada sports books had little to wave a flag about by the end of the time.
Action was slower than slow, according to those who simply take wagers in nevada’ biggest casinos. Perhaps a few of the lesser known events just don’t jibe with the conventional American sports bettor. From badminton and canoe slalom, to rhythmic gymnastics and swimming that is synchronized Las Vegas recreations books lined up the odds, but few took them.
‘We most likely have actually taken about as much in Olympic wagers as we would on a big baseball game, regular period,’ Mirage oddsmaker Jay Rood stated this month.
The disappointing, yet not totally unexpected Olympics for Nevada gambling enterprises might lead to less passion for the 2018 Winter Olympics in Southern Korea because well. It was no effortless feat for oddsmakers to get ready lines on a host of athletic disciplines most had been utterly not really acquainted with.
Big Bets, Little Pay
Even the casual sports fan knows the name Michael Phelps, therefore the most decorated Olympian ever lived up to their hype. Phelps won five for the six events he competed in and departed his final Olympics with 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 was a -300 favorite in the 100m butterfly, 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 pelican pete slot machines the 800m freestyle. 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 in fact was a good bet, 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 guys had been -2500 favorites and the ladies were listed at -1400. Both won their tournaments.
Overall, Team USA won the greatest medal count of all participants with 121 total gold, silver, and bronze. China placed second with 70, and Great Britain 3rd at 67.
Host nation Brazil won 19 total medals, 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 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 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 completely took over the final times of the Olympics.
‘I over-exaggerated that story,’ Lochte told NBC within the week-end. ‘They put on a games being great . . [but] my immature behavior tarnished that a little, and I don’t want that.’
His mea culpas might have come too late, nonetheless. 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 bad choices because from it. It’s unclear whether his 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 to a developing nation anytime soon again, but nonetheless, left the nation on a good 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 sports betting for brand 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 create sports that are legal to Nyc State. Pretlow was instrumental in orchestrating the regulation of daily dream recreations in New York and views no good reason to stop while he’s on a roll.
Pretlow told the Democrat Chronicle this week that, like brand New Jersey in recent years, he desired to test federal opposition to sports betting, and much more particularly PASPA, the Professional and recreational Sports Protection Act 1992, which
‘I’m considering this present year putting in legislation similar to New Jersey’s legislation, and hopefully it gets to court in the Second Circuit, and hopefully we get yourself 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 activities gambling could be the right thing for New York, at any given time whenever state is cautious about passing more so-called ‘vice bills,’ following a legalization of casino gaming, MMA and now DFS. The question of legalizing sports wagering would also probably need an amendment to the state constitution by public referendum.
‘ Any conversation of legalizing sports betting in NY is premature only at that point,’ Pretlow conceded. ‘There are significant issues that are legal think about before undertaking this endeavor.’
It’s difficult to see how ny could succeed in the courts that are federal where New Jersey has failed at every turn. Previously this month, the United States Court of Appeals for the Third Circuit blocked New Jersey’s try to provide sports gambling at its casinos and racetracks once again, ruling so it would be described as a breach of PASPA.
PASPA ‘Not Fair’
‘It’s not fair that only one state is allowed to legally simply take recreations wagers,’ Pretlow said, inaccurately.
While Nevada is the state that is only offers full-scale recreations betting, Oregon, Delaware and Montana are also legally allowed to take action, having being exempted by PASPA because they had currently legalized prior to the passage of this bill in 1992. Delaware offers restricted activities betting at its racetracks, while Oregon and Montana simply choose not to.
The United states Gaming Association, which advocates for the legalization and licensing of sports betting, has said that 80 percent of Super Bowl watchers 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 an approximated $150 billion a year wagering on sports, just 3 percent of it legally.’
Glenn Straub Threatens to Abandon Revel Atlantic City
Revel Atlantic City owner Glenn Straub says time is running away for local officials to approve 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 his resurrection plans for Revel Atlantic City unless local officials in New Jersey change their ways that are governing.
The Florida-based property millionaire ended up being once again before 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 property to include a ropes and 13-floor cycling course.
The changes needed brand new traffic-flow allows from the CRDA, nevertheless the governing organization says it requires 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 manage the center’s gaming.
The CRDA argues Straub’s business, Polo North Country Club Inc., hasn’t filed the paperwork that is appropriate.
‘I can’t believe how much bureaucracy there is in this state. This is just what nj-new Jersey is well 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 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 acquire the bankrupt resort. However, that’s chunk change compared to the $500 million Straub initially focused on the venue that 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 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 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.’
After Which There Were Seven
When the Trump Taj Mahal closes on 10, only seven casinos will remain in Atlantic City october. The town’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 easy for Straub to bring straight back Revel.
Rather than doing everything in its power to expedite the procedure, the CRDA appears 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 decided to invest $150,000 in 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 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
As soon as best-known since the place to select crazy adult-themed bathtubs, the Pennsylvania Pocono Mountains’ Mount Airy area has very 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 heart-shaped tubs immediately jump in your thoughts. 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 is now referred to as the Pocono Mountains is doing something decidedly unromantic: fighting for its own money.
Mount Airy Casino Resort is asking the Pennsylvania Supreme Court to annul state gambling legislation that requires gambling enterprises to pay ten dollars 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 minimum ten dollars million, otherwise the casino is on the hook to make the difference up.
But none of Pennsylvania’s twelve casinos also came close to grossing $500 million from slots a year ago, meaning all had to write extra income 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’ real tax payment ended up being about $5.7 million. Meaning Adelson’s gaming company was forced to pay the $4.3 million difference.
The difference was even more substantial for Mount Airy. The northeast Pennsylvania casino pulled in simply $139.1 million in terminal income, meaning its two payment that is percent $2.78 million, with $7.22 million tacked on.