The controversial 2016 Rio Summer Olympics are officially in the books, 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 for this year’s 16 days of competition, but evidently, bettors were myfreepokies.com less than excited about their options.
American gymnast Simone Biles, who took home four gold and something medal that is bronze carried a flag through the closing ceremonies. But Nevada sports books had little to wave a flag about at the conclusion of the time.
Action was slower than sluggish, according to those who take wagers in Las Vegas’ biggest gambling enterprises. Perhaps some of the lesser known events simply don’t jibe with the normal American sports bettor. From badminton and canoe slalom, to rhythmic gymnastics and synchronized swimming, Vegas activities books lined up the odds, but few took them.
‘We most likely have 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 completely unforeseen Olympics for Nevada gambling enterprises might lead to less passion for the 2018 Winter Olympics in Southern Korea as well. It had been no feat that is easy oddsmakers to prepare lines on a host of athletic disciplines most had been utterly new to.
Big Bets, Little Pay
Also the casual sports fan understands the name Michael Phelps, and the many decorated ever that is olympian up to their hype. Phelps won five associated with 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 almost off the chart.
At Bovada, Phelps was a -300 favorite into the butterfly that is 100m and his 4x200m freestyle relay team needed 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 benefit 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 had been -2500 favorites and the women were listed at -1400. Both won their tournaments.
Overall, Team USA won the medal count that is highest of all participants with 121 total gold, silver, and bronze. Asia placed 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, crime, and final but most certainly not least, Zika, all plagued the lead-up to the competition.
Lochte and Loaded
The games had been definitely not without scandal before US swimmer Ryan Lochte took center phase, with incidents of rape and robbery being reported in the 1st days that are few. But Lochte’s actions overshadowed a lot of the last few days of the Games, in what athletes that are many have considered a cloud over their moment in sunlight.
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 final times 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 wish 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 and made decisions that are bad of it. It’s unclear whether their other backers, including Gillette, Gatorade, and AT&T, is going to do the same.
The International Olympic Committee (IOC) will likely never be rushing back to a developing nation anytime soon again, but however, left the country 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 recreations gambling for New York but admits you will find significant issues that are legal his way. (Image: Jefferson Siegel/New York Daily News)
New York Assemblyman Gary Pretlow wants to bring legal sports betting to New York State. Pretlow was instrumental in orchestrating the regulation of daily dream sports 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 New Jersey in recent years, he wished to test opposition that is federal sports wagering, and more particularly PASPA, the pro and recreational Sports Protection Act 1992, which
‘I’m considering this present year putting in legislation similar to nj-new jersey’s legislation, and hopefully it gets to court in the Second Circuit, and hopefully we obtain a opinion that is different’ he said. ‘we am a believer in legalizing activities wagering.’
Concern About ‘Vice Bills’
But first a legislative push would have to convince both chambers that legal activities betting is the right thing for New York, at the same time whenever state is cautious with passing more alleged ‘vice bills,’ following a legalization of casino gaming, MMA and now DFS. The question of legalizing sports gambling would also probably need an amendment towards the continuing 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 consider before undertaking this undertaking.’
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. Previously 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 reasonable that only one state is permitted to legally just take sports bets,’ Pretlow said, inaccurately.
While Nevada is the state that is only offers full-scale sports gambling, Oregon, Delaware and Montana are also legitimately allowed to do so, having being exempted by PASPA because they had currently legalized before the passage associated with the bill in 1992. Delaware offers limited recreations betting at its racetracks, while Oregon and Montana simply choose not to ever.
The United states Gaming Association, which advocates for the legalization and licensing of sports betting, has said that 80 per cent 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,’ said AGA Chairman Geoff Freeman recently. ‘People in america spend a predicted $150 billion a year wagering on sports, just 3 percent from it legally.’
Glenn Straub Threatens to Abandon Revel Atlantic City
Revel Atlantic City owner Glenn Straub claims time is operating away for local officials to approve his hotel and casino 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 real-estate millionaire ended up being once again before nj’s Casino Reinvestment Development Authority (CRDA) last week. Straub is looking for a permit to work the resort.
Straub has performed renovations on the $2.4 billion shuttered home to incorporate a ropes and 13-floor cycling course.
The changes required new traffic-flow allows from the CRDA, nevertheless 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 manage the center’s gaming.
The CRDA argues Straub’s business, Polo North nation Club Inc., hasn’t filed the appropriate paperwork.
‘I can’t believe exactly how much bureaucracy here is in this state. This is just what New Jersey is famous for,’ Straub opined to reporters during a break. ‘This state stinks.’
Straub said he’s got ‘other things to 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 stopping 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 very 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 perfect destination to 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 month by announcing the closure of his Trump Taj Mahal.
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 intending for A october opening, but his patience is using thin.
‘ I do not have enough time to be screwing with this stuff,’ Straub declared. ‘This is 10 times even worse than what it would be anyplace else.’
Then There Were Seven
When the Trump Taj Mahal closes on October 10, only seven casinos will remain in Atlantic City. The city’s casinos all pay 1.25 percent of gross gaming revenues to fund the CRDA.
A series must be followed by the CRDA of regulations and licensing procedures, however the policies are certainly not making it simple for Straub to bring straight back Revel.
Rather than doing everything in its power to expedite the process, the CRDA appears to be dedicated to non-gaming activity.
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 5th summer beach concert with Live Nation, and also consented to invest $150,000 in the Garden State Film Festival over the next two years.
‘ The CRDA continues its mission to attract events and visitors to the city,’ CRDA Executive Director John Palmieri said 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 because the place to opt for crazy adult-themed bathtubs, the Pennsylvania Pocono Mountains’ Mount Airy region has long discovered video 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 years 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’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 a continuing state gambling legislation that calls for casinos to pay 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 are located. The kicker is that the two percent must equal at least $10 million, otherwise the casino is regarding the hook to make up the distinction.
But none of Pennsylvania’s twelve casinos even came near to grossing $500 million from slots year that is last meaning all had to write additional taxation checks.
Sheldon Adelson’s Sands Bethlehem is the biggest casino, when it comes to pure revenue, in Pennsylvania. During the final fiscal year, the Las vegas, nevada Sands home produced $288.9 million in gross terminal revenue.
At two percent, Sands’ true tax payment ended up being about $5.7 million. Meaning Adelson’s gaming company ended up being forced to pay the $4.3 million difference.
For Mount Airy, the distinction was even more substantial. The northeast Pennsylvania casino pulled in just $139.1 million in terminal income, meaning its two percent payment had been $2.78 million, with $7.22 million tacked on.