۲۰۱۶ Rio Summer Olympics Wrap Up, Nevada Sports Betting Doesn’t Medal

۲۰۱۶ Ri<span id="more-3736"></span>o Summer Olympics Wrap Up, Nevada Sports Betting Doesn’t Medal

The controversial 2016 Rio Summer Olympics are officially in the books, but the activities 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 with this year’s 16 days of competition, but evidently, bettors were less than excited about their options.

American gymnast Simone Biles, who took home four gold and another 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 time.

Action was slower than slow, according to those who simply take wagers in Las vegas, nevada’ biggest casinos. Perhaps some of the lesser known events simply did not jibe with the typical sports that are american. From badminton and canoe slalom, to rhythmic gymnastics and swimming that is synchronized Las Vegas sports 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 baseball that is big, regular season,’ Mirage oddsmaker Jay Rood said this month.

The disappointing, yet not completely unforeseen Olympics for Nevada casinos might cause less enthusiasm for the 2018 Winter Olympics in South Korea since well. It ended up being no easy feat for oddsmakers to organize lines on a host of athletic disciplines most had been utterly not really acquainted with.

Big Bets, Little Pay

Also the casual sports fan knows the name Michael Phelps, therefore the many decorated Olympian ever lived up to his hype. Phelps won five associated with 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 lines on Phelps were nearly off the chart.

At Bovada, Phelps was a -300 favorite into 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 800m freestyle. Those seeking to benefit off Ledecky’s dominance needed to wager a staggering $25,000 to win just $100.

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

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

Overall, Team USA won the greatest 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. Inadequate housing, contaminated water, criminal activity, and last but 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 first days that are few. But Lochte’s actions overshadowed much of the final few days of the Games, in what numerous athletes might have considered a cloud over their moment in the sun’s rays.

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

‘I over-exaggerated that story,’ Lochte told NBC over the week-end. ‘They place on a great games. . . [but] my immature behavior tarnished that 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 that he had way too much to drink that night making decisions that are bad from it. It’s unclear whether his other backers, including Gillette, Gatorade, and AT&T, does the same.

The International Olympic Committee (IOC) will probably never be rushing right back up to a developing nation anytime soon again, but however, left the united states on a note that is positive.

‘We found its way to 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 activities gambling for New York but admits you will find significant legal issues in his way. (Image: Jefferson Siegel/New York Daily News)

New York Assemblyman Gary Pretlow wants to create legal recreations wagering to Ny State. Pretlow was instrumental in orchestrating the regulation of daily dream activities in New York and views no 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 desired to test federal opposition to sports gambling, and more specifically PASPA, the Professional and recreational Sports Protection Act 1992, which

‘I’m considering in 2010 putting in legislation much like nj-new jersey’s legislation, and hopefully it gets to court within the Second Circuit, and hopefully we get yourself a different opinion,’ he said. ‘we am a believer in legalizing sports gambling.’

Concern About ‘Vice Bills’

But first a push that is legislative have to persuade both chambers that legal recreations wagering is pelican pete slot the right thing for New York, at a time if the 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 betting would additionally most likely need an amendment to the continuing 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 start thinking about before undertaking this endeavor.’

It’s difficult to see how ny could succeed in the courts that are federal where nj 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 make an effort to offer sports gambling at its casinos and racetracks again, ruling so it would be a breach of PASPA.

PASPA ‘Not Fair’

‘It’s not reasonable that only one state is permitted to lawfully simply take sports wagers,’ Pretlow said, inaccurately.

While Nevada is the state that is only offers full-scale activities gambling, Oregon, Delaware and Montana are also legitimately permitted to do so, having being exempted by PASPA because they had already legalized ahead of the passage associated with bill in 1992. Delaware offers restricted sports betting at its racetracks, while Oregon and Montana simply choose not to ever.

The American Gaming Association, which advocates for the legalization and certification of sports betting, has said that 80 % of Super Bowl audiences are and only regulation, while 65 believe that is percent 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 predicted $150 billion a year wagering on sports, just 3 percent of it lawfully.’

Glenn Straub Threatens to Abandon Revel Atlantic City

Revel Atlantic City owner Glenn Straub claims time is running down for local officials to approve his casino and resort 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 ways that are governing.

The Florida-based real-estate millionaire had been once again before nj-new jersey’s Casino Reinvestment Development Authority (CRDA) last week. Straub is looking for a permit to use the resort.

Straub has performed renovations on the $2.4 billion shuttered home to include a ropes and cycling course that is 13-floor.

The changes needed new traffic-flow allows through the CRDA, but the governing organization claims it takes additional 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 manage the center’s gaming.

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

‘I can’t believe just how much bureaucracy here is in this state. This is exactly what New Jersey is known for,’ Straub opined to reporters during a break. ‘This state stinks.’

Straub said 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 giving up 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 focused on the location 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 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 by announcing the closure of his Trump Taj Mahal month.

Originally scheduled to start 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 an opening, but his patience is wearing thin october.

‘ I do not have enough time become screwing with this stuff,’ Straub declared. ‘This is 10 times worse than what it would be anyplace else.’

And Then There Were Seven

When the Trump Taj Mahal closes on October 10, only seven gambling enterprises will remain in Atlantic City. 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 not making it easy for Straub to bring right back Revel.

As opposed to doing everything in its capacity to expedite the process, the CRDA seems to be dedicated to non-gaming entertainment.

At its meeting the other day, the agency approved two measures that have nothing to do using the casino market.

The agency agreed to sponsor a summer that is fifth concert with real time Nation, and additionally decided 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 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 a investor that is billion-dollar Straub.

Mount Airy Casino Challenges Pennsylvania’s $10 Million Annual Host Tax

Once best-known as the place to go with crazy adult-themed bathtubs, the Pennsylvania Pocono Mountains’ Mount Airy area has very long discovered video gaming, and with it, a tax battle. (Image: usatoday.com)

For many folks 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 straight 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 a continuing state gambling legislation that requires gambling enterprises to pay ten dollars million annually 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 by which they truly 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 up the difference.

But none of Pennsylvania’s twelve casinos even came near to grossing $500 million from slots year that is last meaning all had to compose additional 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 business was forced to pay the $4.3 million difference.

For Mount Airy, the difference was even bigger. 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.