2016 Rio Summer Olympics Wrap Up, Nevada Sports Betting Does Not Medal

2016 Ri<span id="more-2315"></span>o Summer Olympics Wrap Up, Nevada Sports Betting Does Not 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 time that is first the Sydney Games in 2000, sports betting was permitted in the Silver State for 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 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 day.

Action was slower than slow, according to those who just take wagers in Las vegas, nevada’ biggest gambling enterprises. Perhaps a number of the lesser known events simply don’t jibe with the normal American sports bettor. From badminton and canoe slalom, to rhythmic gymnastics and swimming that is synchronized Vegas sports books lined up the odds, but few took them.

‘We probably have actually taken about as much in Olympic wagers as we would on a baseball that is big, regular season,’ Mirage oddsmaker Jay Rood said this month.

The disappointing, yet not olympics that are totally unexpected Nevada gambling enterprises might lead to less passion for the 2018 Winter Olympics in pelican pete free slots Southern Korea because well. It ended up being no feat that is easy oddsmakers to prepare lines for a host of athletic disciplines most were utterly unfamiliar with.

Big Bets, Little Pay

Also the casual sports fan understands the name Michael Phelps, and the many decorated ever that is olympian up to his hype. Phelps won five regarding 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 nearly off the chart.

At Bovada, Phelps had been a -300 favorite within 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 the freestyle that is 800m. Those seeking to profit off Ledecky’s dominance needed to wager a staggering $25,000 to win simply $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 nearly 12 moments.

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

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

Host nation Brazil won 19 medals that are total and garnered plenty of criticism as well. Inadequate housing, contaminated water, crime, and final but 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 phase, with incidents of rape and robbery being reported in the 1st few days alone. But Lochte’s actions overshadowed a lot of the final few days of the Games, in what many athletes might have considered a cloud over their moment in sunlight.

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

‘I over-exaggerated that story,’ Lochte told NBC throughout the weekend. ‘They put on a games that are great . . [but] my immature behavior tarnished that a little, and I also don’t desire that.’

His mea culpas may have come too 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 decisions because 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 back up to a developing country anytime soon again, but nevertheless, left the country on a good note.

‘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 recreations betting for brand New York but admits you can find significant legal problems in his way. (Image: Jefferson Siegel/New York Daily Information)

New York Assemblyman Gary Pretlow wants to bring legal sports gambling to Nyc State. Pretlow was instrumental in orchestrating the regulation of daily dream recreations in New York and sees 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 wanted to test federal opposition to sports wagering, and more specifically PASPA, the pro and recreational Sports Protection Act 1992, which

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

Concern About ‘Vice Bills’

But first a legislative push would have to persuade both chambers that appropriate activities betting is the right thing for New York, at a time when the state is cautious with passing more so-called ‘vice bills,’ following legalization of casino gaming, MMA now DFS. The question of legalizing sports gambling would additionally most likely require an amendment to the state constitution by public referendum.

‘ Any discussion of legalizing sports betting in NY is premature at this true point,’ Pretlow conceded. ‘There are significant issues that are legal think about before undertaking this endeavor.’

It’s difficult to see how New York could succeed in the courts that are federal where nj-new jersey has failed at every turn. Early 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 betting at its casinos and racetracks once more, ruling so it would be described as a violation of PASPA.

PASPA ‘Not Fair’

‘It’s not fair that only one state is allowed to legitimately simply take recreations bets,’ Pretlow said, inaccurately.

While Nevada is the only state that offers full-scale sports betting, Oregon, Delaware and Montana are also lawfully permitted to do this, having being exempted by PASPA because they had currently 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 United states Gaming Association, which advocates for the legalization and licensing of sports betting, has said that 80 per cent of Super Bowl watchers are and only 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 projected $150 billion a year betting on sports, just 3 percent from it legitimately.’

Glenn Straub Threatens to Abandon Revel Atlantic City

Revel Atlantic City owner Glenn Straub claims time is operating out for local officials to approve their casino and hotel permits, otherwise he’s ready 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 property millionaire ended up being once again before nj’s Casino Reinvestment Development Authority (CRDA) last week. Straub is looking for a permit to operate the resort.

Straub has performed renovations regarding the $2.4 billion shuttered property to include a ropes and 13-floor cycling course.

The changes needed brand new traffic-flow allows through the CRDA, however the governing organization states it requires information that is additional. The CRDA has also dragged its legs in approving a casino permit for Revel, even though Straub has hired a gambling operator to handle the center’s gaming.

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

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

Straub stated he’s got ‘other activities to do’ then wait on brand 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 quitting on his $82 million investment he paid in 2015 to find the resort that is bankrupt. However, that’s amount change set alongside the $500 million Straub initially focused on the location that first opened in 2012.

His plans of converting 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 just 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 intending for an opening, but his patience is wearing thin october.

‘ I don’t have enough time to be screwing with this stuff,’ Straub declared. ‘This is 10 times even worse than exactly what it would be anyplace else.’

And Then There Were Seven

When the Trump Taj Mahal closes on 10, only seven casinos will remain in Atlantic City october. 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 create back Revel.

As opposed to doing everything in its power to expedite the process, the CRDA appears to be focused on non-gaming entertainment.

At its meeting last week, the agency approved two measures that have absolutely nothing to do because of the casino market.

The agency agreed to sponsor a 5th summer time beach concert with real time Nation, and also agreed to spend $150,000 on the Garden State Film 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 launch.

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

Once best-known as the place to go after crazy bathtubs that are adult-themed the Pennsylvania Pocono Mountains’ Mount Airy area has long found 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 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 desired some playtime that is entirely adult.

But now, one casino in what is now referred to as the Pocono Mountains is doing something decidedly unromantic: fighting for its very own cash.

Mount Airy Casino Resort is asking the Pennsylvania Supreme Court to annul a continuing state gambling regulation that requires casinos to spend $10 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 by which they truly are located. The kicker is that the two percent must equal at least $10 million, otherwise the casino is in the hook to make up the distinction.

But none of Pennsylvania’s twelve gambling enterprises also came near to grossing $500 million from slots this past year, meaning all had to write extra taxation checks.

Sheldon Adelson’s Sands Bethlehem is the largest casino, in terms of pure revenue, in Pennsylvania. During the final fiscal year, the Las Vegas Sands property created $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 ended up being 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.

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